Digikore Studios Ltd IPO Timeline

Digikore Studios Ltd IPO opens on 25-Sep-2023, and closes on 27-Sep-2023. The Digikore Studios Ltd IPO bid date is from 25-Sep-2023 to 27-Sep-2023. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Digikore Studios Ltd IPO Opening Date 25-Sep-2023
Digikore Studios Ltd IPO Closing Date 27-Sep-2023
Basis of Allotment 29-Sep-2023
Initiation of Refunds 03-Oct-2023
Credit of Shares to Demat 03-Oct-2023
Digikore Studios Ltd IPO Listing Date 04-Oct-2023

Digikore Studios Ltd IPO Lot Size

Digikore Studios Ltd IPO lot size is 800 shares. A retail-individual investor can apply for up to 1 lots (800 shares or 136800).

Application Lots Shares Amount
Minimum 1 800 ₹136800
Maximum 1 800 ₹136800

Digikore Studios Ltd IPO Details

Digikore Studios Ltd IPO Date 25-Sep-2023 to 27-Sep-2023
Digikore Studios Ltd IPO Face Value Shares of ₹10 per share
Digikore Studios Ltd IPO Price ₹171 per share
Digikore Studios Ltd IPO Lot Size 800
Issue Size Shares of ₹10 (aggregating up to ₹30.48 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹21.56 Cr)
Offer for Sale Shares of ₹10 (aggregating up to ₹8.92 Cr)
Issue Type Book Building - SME
Listing At NSE - SME
QIB Shares Offered -
Retail Shares Offered -
NII (HNI) Shares Offered -
Company Promoters Abhishek Rameshkumar More, Shree M P J Cement Works LLP.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Funding Working Capital Requirements
  • 2 General Corporate Purposes

Company Financials

Digikore Studios Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2023 19.12 35.56 4.37
03-2022 8.25 24.88 0.47
03-2021 8.00 6.17 0.03
Amount in ₹ Crore
  • State of the Art Technology.
  • Consistent track record of profitable growth due to a scalable business model.
  • Established and proven track record.
  • Leveraging the experience of our Promoter.
  • Experienced management team and motivated employees.
  • Cordial relations with its customers.
  • Major portion of the company revenue generated from operation are through exports, any change in the government laws or policies may affect its business.
  • The company top 10 and top 5 customers contribute majority of its revenues from operations for the financial year ended March 31, 2023, March 31, 2022 and March 31, 2021. Any loss of business from one or more of them may adversely affect the company revenues and profitability.
  • The Company operates in the constantly evolving VFX market, which is subject to rapidly changing client's behaviour and tastes, and depends on audience acceptance of content for which the Company provides VFX services and the long-term popularity of the brands.
  • The company ability to remain competitive may be adversely affected by rapid technological changes and its ability to access such technology.
  • Intensified competition may restrict the company ability to access content and/or talent.
  • The company has substantial working capital requirements and may require additional financing to meet working capital requirements in the future. A failure in obtaining such additional financing at all or on terms favourable to it could have an adverse effect on its results of operations and financial condition.
  • The company do not own the premises in which its registered office and Corporate Office are located and the same are on lease arrangement. Any termination of such lease/license and/or non-renewal thereof and attachment by Property Owner could adversely affect the company operations.
  • The Company, its Promoters and Directors are involved in certain legal proceeding(s). Any adverse decision in such proceeding(s) may render us/them liable to liabilities/penalties and may adversely affect its business and results of operations.
  • The company Auditor has not considered the financials for the audit report year ending on March 31, 2023 & March 31, 2022 for one of its foreign subsidiaries.
  • The company has one wholly owned foreign subsidiary Company named Digikore Visual Effects Inc., Canada, for which no prior approval of Reserve Bank of India ("RBI") for making Overseas Direct Investment ("ODI") is taken.
  • Success is dependent on the company people. Its ability to attract and maintain people qualified technical personnel, will affect the results of operations and financial condition.
  • In past the Company has made delay in filing of Statutory Returns and delayed in dispensing of statutory fees.
  • The Company requires several statutory and regulatory permits, licenses and approvals for its operations. The company inability to obtain, renew or maintain the statutory and regulatory licenses, permits and approvals required to operate its business may have a material adverse effect on the company business & operations.
  • The company operate in an industry which is highly sensitive with regard to maintenance of secrecy of the projects and its contents. Any failure on the company part to maintain secrecy of the projects, will have an adverse effect on its results of operations and financial condition.
  • The company depends on its relationships with production house and film directors and other industry participants to exploit its film content.
  • The Company has availed and may in the future avail, unsecured loans that may be recalled by the lenders at any time.
  • The Company had negative cash flows from its Operating activities, investing activities as well as financing activities in some of the previous year(s):
  • The company Promoters have provided personal guarantees to loan facility availed by it, which if revoked may require alternative guarantees, repayment of amount due or termination of the facilities.
  • Within the parameters as mentioned in the chapter titled "Objects of the Offer" beginning on page 60 of this Draft Red Herring Prospectus, the Company's management will have flexibility in applying the proceeds of this Offer. The fund requirement and deployment mentioned in the Objects of this Offer have not been appraised by any bank or financial institution.
  • The company indebtedness and the restrictions imposed by its financing arrangements could adversely affect the company ability to conduct its business and operations.
  • There may be potential conflict of interests between the Company, Subsidiary and Group Company promoted by our directors or Promoter Group Members/ Entities.
  • The company has in the past entered into related party transactions and may continue to do so in the future.
  • The company inability to adapt to rapidly changing post production technology in a timely manner or at all may adversely affect its profitability and results of operation.
  • The company success depends largely upon the services of the Promoters and other Key Managerial Personnel and its ability to retain them. The company inability to attract and retain them may adversely affect the operations of the Company.
  • There may be potential conflicts of interest if the company Promoters or Directors get involved in any business activities that compete with or are in the same line of activity as its business operations.
  • The company logo is not registered. In case of no registration its brand building efforts may be hampered which might lead to an adverse effect on the company business.
  • Lockdown and suspension of commercial operations will affect the growth of its business and cash flows.
  • The company is subject to stringent labour laws or other industry standards and any strike, work stoppage, Lock-out or increased salary demand by its employees or any other kind of disputes with the company employees could adversely affect its business, financial condition and results of operations.
  • Changes in government regulations or their implementation could disrupt The company operations and adversely affect its business and results of operations.
  • The company Promoters and members of the Promoter Group will continue jointly to retain majority control over the Company even after the Issue which will allow them to determine the outcome of matters submitted to shareholders for approval.
  • The company insurance coverage may not be adequate and this may have a material adverse effect on its business financial condition and results of operation.
  • The company has issued Equity Shares during the last one year at a price that is below the Issue Price.
  • The average cost of acquisition of Equity Shares by the Promoters is lower than the Offer Price.
  • In case of any inability arise to source business opportunities effectively, the company may not achieve its financial objectives.
  • The company future funds requirements, in the form of fresh issue of capital or securities and/or loans taken by it, may be prejudicial to the interest of the shareholders depending upon the terms on which they are eventually raised.
  • The deployment of funds raised through this Offer shall not be subject to any Monitoring Agency and shall be purely dependent on the discretion of the management of the Company.
  • The requirements of being a public listed company may strain its resources and impose additional requirements.
  • The company growth will depends on its ability to build the company brand and failure to do so will negatively impact its ability to effectively compete in this industry.
  • The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
  • The company has not independently verified certain industry data in this Draft Red Herring Prospectus.
  • Enhance customer base by entering new geographies.
  • Leveraging its Market skills and Relationships.
  • Focus on quality.

Digikore Studios Ltd IPO Promoter Holding

Pre Issue Share Holding 89.06%
Post Issue Share Holding 63.09%

Digikore Studios Ltd IPO Subscription Status (Bidding Detail)

The Digikore Studios Ltd IPO is subscribed - times on Sep 27, 2023 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) - - - - -

Digikore Studios Ltd IPO Prospectus

Digikore Studios Ltd IPO Listing Date

Listing Date 04 Oct 23
BSE Script 75460
Listing In NSE - SME
IPO Price ₹171
Face Value ₹10

Digikore Studios Ltd IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91 22 6263 8200;
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com

Digikore Studios Ltd IPO Lead Manager(s)

  1. Sarthi Capital Advisors Pvt Ltd

FAQs on Digikore Studios Ltd IPO

Digikore Studios Ltd IPO, which opens for subscription from 25-Sep-2023 to 27-Sep-2023 has an issue size of ₹30.48 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Digikore Studios Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

Digikore Studios Ltd IPO Opens for subscription from 25-Sep-2023 to 27-Sep-2023.

The lot size of Digikore Studios Ltd is 800 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹136800 and ₹136800 respectively.

Allotment date for Digikore Studios Ltd is 29-Sep-2023 and refund of application amount (in case allotment is not received) will begin from 03-Oct-2023. If your allotment goes through, then shares will be credited in your Demat account by 03-Oct-2023.

The registrar for Digikore Studios Ltd IPO is Bigshare Services Pvt Ltd . You can check your IPO allotment status on the registrar's website.

The shares of Digikore Studios Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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