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

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.

A press release from the company said the anchor portion will be opened on January 19, and the issue will conclude on January 22. The company intends to raise up to ₹69.67 crore from the fresh issue and up to ₹11.33 crore from offer for sale. The company aims to be listed on the BSE SME platform.

The price band for the issue has been fixed at ₹98 - ₹104 per share, and the lot size will be 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, it said.

Indorient Financial Services Ltd is the Book Running Lead Manager, and KFIN Technologies Ltd is the Registrar to the offer.

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, it added.