Digilogic Systems Limited, a city-based automated test equipment systems and application software provider to the defence and aerospace sector, on Saturday announced that its Initial Public Offering (IPO) will open for subscription on January 20.

Digilogic Systems IPO opens Jan 20; price band set at ₹98-₹104

Digilogic Systems Limited Announces Initial Public Offering

Digilogic Systems Limited, a leading provider of automated test equipment systems and application software to the defence and aerospace sector, has announced the opening of its Initial Public Offering (IPO) for subscription on January 20.

IPO Details

Date of Anchor Portion: January 19
Date of Issue Conclusion: January 22
Issue Size: Up to ₹80 crore (fresh issue and offer for sale combined)
Price Band: ₹98 - ₹104 per share
Lot Size: 1,200 equity shares

The IPO will comprise a fresh issue of equity shares aggregating 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.

Book Running Lead Manager and Registrar

Book Running Lead Manager: Indorient Financial Services Ltd
Registrar to the Offer: KFIN Technologies Ltd

Utilisation of IPO Proceeds

According to the Red Herring Prospectus (RHP), Digilogic Systems intends to utilise ₹51.73 crore of the total IPO proceeds for capital expenditure towards setting up of a new facility and ₹8 crore for pre-payment/re-payment, in part or full, of certain outstanding borrowings availed by the company.

The company plans to use remaining capital towards general corporate purposes and offer-related expenses.