Digikore Studios, a prominent player in the visual effects industry, known for its work on popular TV shows and Hollywood blockbusters such as Stranger Things, Deadpool, Star Trek, Thor: Love and Thunder, and Titanic, is poised to launch its initial public offering (IPO) on September 25, 2023. The IPO will remain open for subscription until September 27.
The company has priced its IPO between Rs 168-171 per share. The offering comprises a total of 17,82,400 shares. This includes 1,260,800 new shares and an offer for sale of 5,21,600 existing shares. Investors can place their bids in multiples of 800 shares - the minimum lot size. Sarthi Capital Advisors Private is managing the book-running process for this IPO while Bigshare Services Private will act as the registrar.
This move comes on the back of Digikore Studios' strong financial performance in recent years. The company's revenue surged to Rs 35.56 crore in FY23 from Rs 24.88 crore in FY22. Simultaneously, net profit rose significantly to Rs 4.37 crore (approx. $525,900) from Rs 46.54 lakh (approx. $56,000). In the quarter ending June 2023, Digikore reported revenue of Rs 11.83 crore and a net profit of Rs 2.80 crore.
The visual effects company recently concluded a pre-IPO funding round that saw investments from several individuals including Nikhil Vora, Vijay Khetan, Mrinal Singh, Pramod Kasat among others.
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This development follows the successful debut of Basilic Fly Studio, another visual effects studio based in Chennai on the NSE Emerge platform earlier this month.
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