NSE SME Digikore Studios rallies on listing

Shares of Digikore Studios was up 3.67% at Rs 279.90 on the NSE, soaring 64% compared with the issue price of Rs 171.

The scrip was listed at Rs 270, up 58% over the initial public offer (IPO) price. The counter hit a high of Rs 283.50 and a low of Rs 270 so far. About 9.20 lakh shares of the company changed hands at the counter.

The IPO of Digikore Studios was subscribed 18.78 times. It opened for bidding on 25 September 2023 and it closed on 27 September 2023. The price band of the IPO was set at Rs 168-171 per share.

The IPO comprised fresh issue of 12,60,800 shares and an offer for sale (OFS) up to Rs 5,21,600 crore by selling shareholders. The company intends to utilize the net proceeds for funding working capital requirements and general corporate purpose.

Ahead of the IPO, Digikore Studios on 22 September 2023, raised Rs 8.22 crore from the anchor investors. The board allotted 4,80,800 shares at Rs 171 per share to three anchor investors.

Digikore Studios specializes in delivering Visual Effects (VFX) for a diverse range of projects such as films, web series, TV series, documentaries, and commercials. It offers a comprehensive suite of visual effects services, overseen by an experienced production team.

The company recorded revenue from operations of Rs 11.83 crore and net profit of Rs 2.79 crore for the period as on 30 June 2023.

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