In a historic turn of events, Pune-based Digikore Studios, a world-class visual effects (VFX) studio, achieved a remarkable milestone with its successful IPO launch, securing the
prestigious title of the 3 rd largest SME IPO subscription in India’s history. The company now stands on the threshold of a new chapter in its remarkable journey, with its shares being listed at Rs 270 on the NSE Emerge, against the issue price of Rs 171, indicating a 57.8 percent premium.
Abhishek More, Founder and CEO of Digikore Studios, expressed his excitement, saying, “We are thrilled to reach this significant milestone, which reflects the tremendous trust and support from our investors. The VFX and animation industry in India is experiencing a remarkable transformation, driven by a growing appetite for top-tier
visual experiences in cinema, television, and advertising. With ever-evolving technology, we are empowered to take on more ambitious and inventive projects.”
The recent IPO launch in September 2023 sent shockwaves through the investment landscape as it garnered an astounding oversubscription rate of 18.78 times on the very first day. Retail investors showcased remarkable enthusiasm, oversubscribing by a staggering 32.73 times their allocated portion, while non-institutional buyers demonstrated their eagerness by subscribing 15.02 times. Qualified Institutional Buyers (QIBs) too expressed unwavering confidence, subscribing to their allotted portion by 7.09 times.
By the end of the second day, Digikore’s IPO had been oversubscribed by an impressive 65.59 times, further solidifying its position as a future leader in the VFX industry. The crescendo came on the final day, with an incredible oversubscription of 243.11 times amounting to applications worth Rs. 5,411 crores. Investors bid for a remarkable 31,64,27,200 equity shares, far exceeding the total offering of 13,01,600 shares. This
demand reaffirmed Digikore’s status as one of the hottest IPOs in recent memory.