Digilogic Systems Ltd IPO to open on Jan 20 with price band at Rs 98 - Rs 104

Digilogic Systems Limited Announces Initial Public Offering

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

• The anchor portion of the IPO will be opened on January 19.
• The issue will conclude on January 22.

The company intends to raise up to Rs 69.67 crore from the fresh issue and up to Rs 11.33 crore from offer for sale.

• Key IPO Details:
• Price band: Rs 98 – Rs 104 per share
• Lot size: 1,200 equity shares

The IPO will comprise a fresh issue of equity shares aggregating up to Rs 69.67 crore and an offer for sale of up to 11.50 lakh equity shares with a face value of Rs 2 each, aggregating up to Rs 11.33 crore.

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

According to the Red Herring Prospectus (RHP), Digilogic Systems intends to utilise Rs 51.73 crore of the total IPO proceeds for capital expenditure towards setting up of a new facility and Rs 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.