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

Hyderabad, Jan 17 (PTI) 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 Rs 69.67 crore from the fresh issue and up to Rs 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 Rs 98 - Rs 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 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, 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 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, it added. PTI GDK KH