Digikore Studios files draft papers with NSE Emerge for IPO

Digikore Studios Limited, a prominent player in the visual effects (VFX) field, is preparing for its market debut with an initial public offering (IPO). The leading VFX studio recently filed its Draft Red Herring Prospectus (DRHP) with NSE Emerge, the platform for listing of small and medium enterprises.

The impending IPO will comprise a total of 17,82,400 equity shares. This composition entails the introduction of 12,60,800 fresh equity shares and the sale of 5,21,600 equity shares through an Offer for Sale (OFS). The core impetus behind this move is to infuse Digikore Studios with more capital to amplify operational capabilities, expand technical prowess and to fund growth plans.

With a keen focus on ensuring a seamless IPO process, Digikore Studios has appointed Sarthi Capital Advisors Private Limited as the Book Running Lead Manager.

Bigshare Services Private Limited will be the Registrar for the IPO. In a pre-IPO funding round, the studio witnessed the influx of strategic investments from industry stalwarts, which included notable names like Nikhil Vora, Mrinal Singh and Pramod Kasat.

In its DRHP, Digikore Studios has also unveiled its strong financial indicators for the fiscal year 2022-2023 (FY23). The company reported a total revenue of Rs 35.55 crore in FY23. Its earnings before interest, taxes, depreciation, and amortisation (EBITDA) stood at Rs 7.48 crore and Profit After Tax (PAT) was Rs 4.37 crore.  

Rise of Digikore Studios as a leading VFX player

Digikore Studios was founded in 2000 and it swiftly ascended to prominence by virtue of its involvement in over 200 Hollywood films and TV series. The portfolio boasts an array of successful productions, including iconic titles such as Thor: Love and Thunder, Black Panther: Wakanda Forever, Deadpool, Star Trek, Jumanji, Stranger Things, and Game of Thrones.

Digikore Studios is among the select Indian VFX entities endorsed by major industry luminaries including Disney/Marvel, Netflix, Apple, Paramount, Warner Bros., and Lionsgate. Furthermore, the studio's mettle has been put to the test and validated by stringent audits conducted by authoritative entities such as TPN.

The rapid surge of the over-the-top (OTT) entertainment domain has galvanized substantial growth within the VFX landscape. Having garnered the trust and acknowledgment of major industry players, Digikore Studios stands poised to emerge as a preeminent global VFX powerhouse.