Digilogic Systems IPO opens: Check subscription details, objectives, price band, lot size and key dates

Digilogic Systems IPO: Automated test equipment systems and application software provider Digilogic Systems' initial public offering hit the primary market on Tuesday, January 20. The issue will end on Thursday, January 22. The price band has been set at ₹98 to ₹104 per share.

The ₹81.01 crore initial share sale consists of a fresh issuance of ₹69.68 crore and an offer for sale of ₹11.33 crore by promoter Madhusudhan Varma Jetty.

The money generated will be utilised for capital expenditure for establishing a proposed new facility, debt repayment and corporate general purposes.

"We expect to receive the benefits of listing of the equity shares on BSE Limited (SME Platform), which include enhancement of our company’s visibility and brand image and creation of a public market for our equity shares in India, among others," the company said in its red herring prospectus.

Digilogic Systems IPO Day 1: Subscription status

The IPO has been booked 29% so far on the first day of subscription, with bids for 17,38,800 shares as against 59,79,600 shares on offer, according to the BSE data until 3:40 pm.

Digilogic Systems IPO: Lot size

A lot consists of 1,200 shares. The minimum investment for an individual investor is two lots or 2,400 shares.

Half of the net offer has been reserved for qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional investors.

Digilogic Systems IPO: Allotment and listing date

• Subscription period: January 20 to January 22
• Basis of allotment: January 23
• Refund initiation: January 27
• Credit of Shares to Demat account: January 27
• Listing on BSE SME: January 28

Digilogic Systems is a technology-led company involved in the design, development, integration, manufacturing, supply and support of automated test equipment (ATE) systems, radar and electronic warfare environmental simulators, application software, and embedded signal processing solutions for the defence and aerospace engineering sector. It generally gets purchase orders directly from government entities through the tendering process and indirectly through third-party vendors supplying to government entities.