IPO Schedule and Structure
Digilogic Systems Limited, a city-based automated test equipment systems and application software provider serving the defence and aerospace sector, has announced the launch of its Initial Public Offering. The IPO will open for public subscription on January 20 and will close on January 22. The anchor book is scheduled to open on January 19.The company aims to list its equity shares on the BSE SME platform.
Issue Size and Price Band
The IPO comprises a fresh issue of equity shares worth up to ₹69.67 crore and an offer for sale of up to 11.50 lakh equity shares with a face value of ₹2 each, aggregating up to ₹11.33 crore. The total issue size stands at ₹81 crore.The price band has been fixed at ₹98 to ₹104 per equity share, with a lot size of 1,200 equity shares.
Utilisation of IPO Proceeds
As outlined in the Red Herring Prospectus, Digilogic Systems plans to utilise a significant portion of the net proceeds for capacity expansion and balance sheet strengthening. The company intends to deploy ₹51.73 crore towards capital expenditure for setting up a new facility.Additionally, ₹8 crore will be used for pre-payment or repayment of certain outstanding borrowings, either partially or fully. The remaining proceeds will be allocated towards general corporate purposes and issue-related expenses.
Issue Management Details
Indorient Financial Services Ltd has been appointed as the Book Running Lead Manager to the issue, while KFIN Technologies Ltd will act as the Registrar to the Offer.About Digilogic Systems
Digilogic Systems Limited operates in the niche domain of automated test equipment systems and application software, catering primarily to defence and aerospace applications. The upcoming public issue marks a key milestone in the company’s growth journey as it looks to expand its operational infrastructure and strengthen its financial position ahead of listing on the BSE SME platform.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.