Digikore Studios
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 25 Sep 2023 – 27 Sep 2023
- Listing date
- 04 Oct 2023
- Face value
- ₹10 per share
- Issue price
- ₹171 per share
- Lot size
- 800 shares
- Issue type
- Book Building issue
- Total issue size
- ₹30.48 Cr
- Market cap at offer price
- ₹108 Cr
- Promoter holding
- 93.38% → 66.55% pre-issue → post-issue
- ISIN
- INE0QJ901011
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Sarthi Capital Advisors Pvt.Ltd.
- Registered office
- C/o Poona Bottling Company Private Limited., 410/1, 411/2, Mumbai Pune Road, Dapodi, Maharashtra
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 4,80,800 | — | — |
| Market maker | 1,78,400 | — | — |
Application size
Minimum 800 shares per lot, in multiples, at ₹171
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 800 | ₹1,36,800 |
| S-HNI (min) | 2 | 1,600 | ₹2,73,600 |
| S-HNI (max) | 7 | 5,600 | ₹9,57,600 |
| B-HNI (min) | 8 | 6,400 | ₹10,94,400 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 36.95 | — |
| P/E (×) | 4.63 | — |
| Market cap | — | ₹108 Cr |
Key performance indicators
- Return on net worth
- 74.03%
- ROCE
- 92.23%
- Debt / equity
- 1.03
- PAT margin
- 12.30%
- NAV per share
- ₹49.91
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Digikore Studios
Digikore Studios Limited was incorporated on July 25, 2000 in Pune and was established by Mr. Abhishek Rameshkumar More, who remains Promoter and Managing Director. After early years in animation and comics colouring, it forayed into VFX for Hollywood films and TV series in 2011 (first project Ghost Rider: Spirit of Vengeance, followed by work on Titanic 3D) and today specializes in delivering Visual Effects for Films, Web Series, TV Series, Documentaries and Commercials, with credits including Thor: Love and Thunder, Black Panther: Wakanda Forever, Glass Onion: A Knives Out Mystery, Deadpool, Star Trek, Jumanji, Stranger Things and Black Adam. It is a TPN-audited (Trusted Partner Network) VFX studio approved for projects from production houses like Disney/Marvel, Netflix, Amazon, Apple, Paramount, Warner Bros. and Lionsgate, operates a wholly owned Canadian subsidiary, Digikore Visual Effects Inc. (incorporated October 19, 2021), and had 357 employees as of July 31, 2023. It makes money by executing VFX shots on a project basis and invoicing clients once all shots are approved; revenue is overwhelmingly export-driven (98.34% of FY2022-23 revenue from operations, with North America contributing 85.83%). Restated standalone FY2022-23 total revenue was ₹3,555.83 lakhs with profit after tax of ₹437.46 lakhs. The IPO comprises a fresh issue of 12,60,800 equity shares and an offer for sale of 5,21,600 shares by promoter M/s Shree M P J Cement Works LLP, with listing proposed on the NSE Emerge (SME) platform.
Company Analysis
from RHPDigikore Studios Limited is a Pune-based visual effects (VFX) studio serving the global media and entertainment industry, delivering VFX for films, web series, TV series, documentaries and commercials.
Digikore Studios Limited was incorporated on July 25, 2000 in Pune and was established by Mr. Abhishek Rameshkumar More, who remains Promoter and Managing Director. After early years in animation and comics colouring, it forayed into VFX for Hollywood films and TV series in 2011 (first project Ghost Rider: Spirit of Vengeance, followed by work on Titanic 3D) and today specializes in delivering Visual Effects for Films, Web Series, TV Series, Documentaries and Commercials, with credits including Thor: Love and Thunder, Black Panther: Wakanda Forever, Glass Onion: A Knives Out Mystery, Deadpool, Star Trek, Jumanji, Stranger Things and Black Adam. It is a TPN-audited (Trusted Partner Network) VFX studio approved for projects from production houses like Disney/Marvel, Netflix, Amazon, Apple, Paramount, Warner Bros. and Lionsgate, operates a wholly owned Canadian subsidiary, Digikore Visual Effects Inc. (incorporated October 19, 2021), and had 357 employees as of July 31, 2023. It makes money by executing VFX shots on a project basis and invoicing clients once all shots are approved; revenue is overwhelmingly export-driven (98.34% of FY2022-23 revenue from operations, with North America contributing 85.83%). Restated standalone FY2022-23 total revenue was ₹3,555.83 lakhs with profit after tax of ₹437.46 lakhs. The IPO comprises a fresh issue of 12,60,800 equity shares and an offer for sale of 5,21,600 shares by promoter M/s Shree M P J Cement Works LLP, with listing proposed on the NSE Emerge (SME) platform.
Objects of the Issue
- Funding Working Capital Requirement ₹1695.78 lakhs p.68
- General Corporate Purposes ₹[●] p.68
- Offer Expenses ₹[●] p.68
Issue Structure
- Total Issue
- 17,82,400 Equity Shares aggregating up to ₹[●] lakhs
- Fresh Issue
- 12,60,800 Equity Shares aggregating up to ₹[●] lakhs
- Offer for Sale
- 5,21,600 Equity Shares aggregating up to ₹[●] lakhs by M/s Shree M P J Cement Works LLP (Selling Shareholder)
- Price Band
- Rs. 168 to Rs. 171
- Lot Size
- 800 Equity Shares and in multiples thereof
- Face Value
- ₹10.00 each
Business Model
Earns revenue by providing VFX services on a project basis to film producers, web-series producers, TV serial producers and commercial-ad producers, invoicing clients once all shots in a project are approved; revenue is predominantly from exports (98.34% of FY2022-23 revenue from operations), led by North America (85.83% of FY2022-23 revenue from operations).
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| M/s. Shree M P J Cement Works LLP | Promoter (also Selling Shareholder in the Offer for Sale) | 61.89% | 41.33% |
| Abhishek Rameshkumar More | Promoter & Managing Director | 27.17% | 21.76% |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.