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Investor Confidence Grows as Digikore’s IPO Continues to Shine on Day 2: Oversubscribed by 72 times at the end of Day 2

Mumbai, September 26, 2023: The future of innovation in the visual effects (VFX) industry, Digikore Studios, is making waves as it continues to attract significant investments on the second day of its IPO. Just like a masterful VFX composition, Digikore’s IPO is capturing the imagination of investors, demonstrating the brand’s unwavering potential for growth and expansion. The sheer enthusiasm displayed by investors underscores the trust they have in Digikore’s future roadmap.

Digikore is offering shares within a price band of Rs. 168 to Rs. 171 per equity share, allowing investors to become a part of its remarkable journey. Bid for 800 shares in 1 lot, and be a part of its legacy. The company is committed to inclusivity, with reserved portions for qualified institutional buyers, non-institutional investors, and retail investors, ensuring that everyone can participate in its success story. Digikore plans to utilize the net proceeds from the IPO to fuel its strategic growth initiatives, including further innovation and expansion in the dynamic digital entertainment landscape.

Digikore’s financial performance for the year ended March’23 speaks volumes, with remarkable revenues and profits. In the fiscal year 2022-23, the company reported a significant increase in revenue, reaching Rs. 35.56 crores, compared to Rs. 24.88 crores in the previous fiscal year. The net profit for the same period surged to Rs. 4.37 crores, a substantial increase from Rs. 46.54 lakhs in FY22. For the quarter ending June 2023, the company recorded revenue of Rs. 11.83 crores, accompanied by a net profit of Rs. 2.80 crores.

Sarthi Capital Advisors Private Limited, recognized for their expertise, have been appointed as the Book Running Lead Manager to the offer, while Bigshare Services Private Limited, a name synonymous with trust, will serve as the Registrar to the Offer. The market maker for the IPO is Gretex Share Broking Limited.

The final allotments will be announced on September 29th, and refunds will be processed on October 3rd. The shares will list on the NSE EMERGE platform on October 4th, marking a new chapter in Digikore’s journey.

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