Digikore Studios initiates IPO process; submits draft papers to NSE Emerge platform
Proceeds from the fresh issue will be used to further enhance the company's operations, expand its capabilities, and drive its growth trajectory.
Digikore Studios Limited, a prominent player in the visual effects (VFX) industry, is gearing up for its entry into the stock market with an upcoming IPO. The leading VFX studio has recently lodged its Draft Red Herring Prospectus (DRHP) with NSE Emerge, the platform dedicated to the listing of small and medium-sized enterprises.
The company intends to raise capital through a fresh issue of shares, with the proceeds earmarked for enhancing operational capabilities, expanding technical expertise, and facilitating growth.
The impending IPO is set to include a total of 17,82,400 equity shares. This composition involves the issuance of 12,60,800 fresh equity shares and the sale of 5,21,600 equity shares through an Offer for Sale (OFS). The primary goal of this initiative is to infuse Digikore Studios with additional capital to enhance operational capacities, expand technical prowess, and fund growth initiatives.
To ensure a smooth IPO process, Digikore Studios has appointed Sarthi Capital Advisors Private Limited as the Book Running Lead Manager. Bigshare Services Private Limited will act as the Registrar for the IPO. In a pre-IPO funding round, the studio received strategic investments from industry veterans, including prominent figures like Nikhil Vora, Mrinal Singh, and Pramod Kasat.
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Company overview of Digikore Studios
Founded in 2000, Digikore Studios quickly rose to prominence by contributing to more than 200 Hollywood films and TV series. The studio's portfolio boasts a range of successful productions, including iconic movies like Thor: Love and Thunder, Black Panther: Wakanda Forever, Deadpool, Star Trek, Jumanji, Stranger Things, and Game of Thrones.
The company is one of the few Indian VFX entities endorsed by major industry giants such as Disney/Marvel, Netflix, Apple, Paramount, Warner Bros and Lionsgate. Additionally, Digikore Studios' capabilities have been validated through rigorous audits conducted by authoritative bodies like TPN.
The rapid growth of the over-the-top (OTT) entertainment sector has driven substantial expansion in the VFX industry. With the trust and recognition of key industry players, Digikore Studios is positioned to establish itself as a leading global force in the realm of VFX.
Disclaimer: The article is for informational purposes only and not investment advice.