Digicore Studios created history

Mumbai. In a historic development, Pune-based world-class visual effects (VFX) studio, Digicore Studios has achieved a remarkable feat with its successful IPO launch. With this it has become the third largest SME IPO subscription in the history of India. Shares of this company have been listed on NSE Emerge at Rs 270 with a premium of 57.8 percent against the issue price of Rs 171. With this, the company is now in a position to add a new chapter to its illustrious business.

Expressing his excitement, Abhishek More, Founder and CEO, Digicore Studios, said, “We are extremely excited to achieve this important milestone. This is a symbol of the tremendous confidence and support of our investors. The VFX and animation industry in India is undergoing a significant transformation due to the increasing demand for high quality visual experiences in cinema, television, and advertising. “With ever-evolving technology, we are in a better position to take on more ambitious and innovative projects.”

The recent IPO launch in September 2023 took the investment market by storm as it garnered a whopping 18.78 times oversubscription on the very first day. Retail investors showed tremendous enthusiasm and this category witnessed an astonishing 32.73 times oversubscription. At the same time, non-institutional buyers subscribed 15.02 times more. Qualified Institutional Buyers (QIBs) also subscribed 7.09 times their allotted share, showing strong confidence.

By the end of the second day, Digicore’s IPO was oversubscribed by an impressive 65.59 times, further cementing its position as a future leader in the VFX industry. The peak of excess buying came on the last day of the IPO, when applications worth Rs 5,411 crore were received, with an incredible 243.11% more subscription than the limit. Investors bid for a handsome 31,64,27,200 equity shares, much more than the total offered shares of 13,01,600. This demand confirms Digicore’s position as one of the most attractive IPOs in recent times.