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Digilogic Systems IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details
Digilogic Systems Limited is an India-based electronics manufacturing services (EMS) company engaged in designing and manufacturing electronic modules and systems. The company earns revenue through end-to-end product development, manufacturing, testing, and supply of electronic solutions. Its products are used across automotive electronics, industrial automation, defence, medical devices, and IoT applications, catering to OEMs requiring customised and high-reliability electronic systems .
Digilogic Systems, an Book Built Issue, amounting to ₹
81.01 Crore,consisting an fresh issue of
0.67 crore shares aggregating to ₹
69.68 crores and offer for sale of
0.11 crore shares aggregating to ₹
11.33 crores.The subscription period for the Digilogic Systems IPO opens on January 20, 2026, and closes on January 22, 2026. The allotment is expected to be finalized on or about 23 January 2026, Friday, and the shares will be listed on the BSE SME with a tentative listing date set on or about Wednesday, January 28, 2026.
The Share Price Band of Digilogic Systems IPO is set at ₹98 to ₹104 per share per equity share. The Market Capitalisation of the Digilogic Systems at IPO price of ₹104 per equity share will be ₹
301.10 Crores. The lot size of the IPO is 41 shares. Retail investors are required to invest a minimum of ₹
249,600, 2 lots (
2,400 shares), while the minimum investment for High-Net-Worth Individuals (HNIs) is
3 lots (
3,600 shares), amounting to ₹
374,400.
INDORIENT FINANCIAL SERVICES LIMITED are the book running lead manager of the Digilogic Systems Ltd. while KFIN TECHNOLOGIES LIMITED is the registrar for the issue,The Market Maker of the company is Pace Stock Broking Services Private Limited.
Digilogic Systems Limited IPO GMP Today
The Grey Market Premium of Digilogic Systems IPO is expected to be ₹0 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.
Digilogic Systems Limited IPO Live Subscription Status Today: Real-Time Update
As of 06:30 PM on 22 January 2026, the Digilogic Systems IPO live subscription status shows that the IPO subscribed 1.10 times on its Final Day of subscription period. Check the Digilogic Systems IPO Live Subscription Status Today at BSE.
Digilogic Systems Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online
Digilogic Systems IPO allotment date is 23 January 2026, Friday, Digilogic Systems IPO Allotment will be out on 23 January 2026, Friday, and will be live on Registrar Website from the allotment date.
KFIN TECHNOLOGIES LIMITED IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select Digilogic Systems IPO from the dropdown list of IPO
- Enter your application number, PAN, or DP Client ID
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.
Objectives of Digilogic Systems Limited IPO
Digilogic Systems to utilise the Net Proceeds towards the following objects:
1. ₹5,173.78 Lakhs is required for Capital expenditure towards setting up of Proposed New Facility
2. ₹800.00 Lakhs is required for Pre-payment/ re-payment, in part or full, of certain outstanding borrowings availed by our Company
3. General Corporate Purposes
Refer to Digilogic Systems Limited RHP for more details about the Company.
Digilogic Systems Limited Day Wise IPO GMP Trend
| GMP Date | Issue Price | Expected Listing Price | GMP | Last Updated |
|---|---|---|---|---|
| January 15, 2026 | ₹ 104 | ₹ 104 | ₹0(0.0%) | 15 January 2026; 03:16 PM |
Digilogic Systems IPO Details
| Market Capitalization | ₹301.10 Cr. |
| IPO Date | January 20, 2026 to January 22, 2026 |
| Listing Date | January 28, 2026 |
| Face Value | ₹2 Per Share |
| Price Band | ₹98 to ₹104 per share |
| Issue Price | ₹104 per share |
| Employee Discount | NA |
| Lot Size | 1200 Equity Shares |
| Total Issue Size | 77,89,196 Equity Shares (aggregating to ₹81.01 Cr) |
| Fresh Issue | 66,99,596 Equity Shares (aggregating to ₹69.68Cr) |
| Offer for Sale | 10,89,600 Equity Shares (aggregating to ₹11.33 Cr) |
| Issue Type | Book Built Issue |
| Listing At | BSE SME |
| Share holding pre issue | 2,22,52,630 |
| Share holding post issue | 2,89,52,226 |
| Rating | Avoid |
Digilogic Systems IPO Anchor Investors Details
| Bid Date | N/A |
| Shares Offered | N/A |
| Anchor Portion Size (In Cr.) | N/A |
| Anchor lock-in period end date for 50% shares (30 Days) | N/A |
| Anchor lock-in period end date for remaining shares (90 Days) | N/A |
Digilogic Systems IPO Timeline (Tentative Schedule)
| IPO Open Date | Tue, Jan 20, 2026 |
| IPO Close Date | Thu, Jan 22, 2026 |
| Basis of Allotment | Fri, Jan 23, 2026 |
| Initiation of Refunds | Tue, Jan 27, 2026 |
| Credit of Shares to Demat | Tue, Jan 27, 2026 |
| Listing Date | Wed, Jan 28, 2026 |
| Cut-off time for UPI mandate confirmation | Fri, Jan 23, 2026 |
Digilogic Systems IPO Reservation
| Investor Category | Shares Offered | Reservation % |
|---|---|---|
| QIB Portion | 3,699,598 | Not less than 50% of the Net Offer |
| Non-Institutional Investor Portion | 1,109,879 | Not more than 15% of the Net Issue |
| Retail Shares Offered | 2,589,719 | Not more than 35% of the Net Offer |
| Market Maker Portion | 390,000 | - |
Digilogic Systems IPO Promoter Holding
| Share Holding Pre Issue | 88.50% |
| Share Holding Post Issue | 68.02% |
Digilogic Systems IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | ₹249,600 |
| Retail (Max) | 2 | 2,400 | ₹249,600 |
| S-HNI (Min) | 3 | 3,600 | ₹374,400 |
| S-HNI (Max) | 8 | 9,600 | ₹998,400 |
| B-HNI (Min) | 9 | 10,800 | ₹1,123,200 |
Digilogic Systems IPO Subscription Status
| Investor Category | Shares Offered | Shares Bid For | No of Times Subscribed | Last Upadeted |
|---|---|---|---|---|
| Qualified Institutional Buyers (QIB) | 16,83,600 | 26,95,200 | 1.60x | 23 January 2026; 05:01 PM |
| Non Institutional Investors(NIIS) | 15,62,400 | 4,90,800 | 0.31x | 23 January 2026; 05:01 PM |
| Retail Individual Investors (RIIs) | 27,33,600 | 29,47,200 | 1.08x | 23 January 2026; 05:01 PM |
| Total | 59,79,600 | 61,33,200 | 1.03x | 23 January 2026; 05:01 PM |
About Digilogic Systems Limited
Digilogic Systems Limited is an India-based electronics manufacturing services (EMS) company engaged in designing and manufacturing electronic modules and systems. The company earns revenue through end-to-end product development, manufacturing, testing, and supply of electronic solutions. Its products are used across automotive electronics, industrial automation, defence, medical devices, and IoT applications, catering to OEMs requiring customised and high-reliability electronic systems .
Key Clients and Manufacturing Facilities
The company serves reputed clients across automotive, defence, industrial, and healthcare segments, including domestic OEMs and technology-driven enterprises. Digilogic operates its manufacturing facility located in Kochi, Kerala, equipped with Surface Mount Technology (SMT) lines, testing infrastructure, and quality control systems. These facilities support high-mix, low-to-medium volume production, ensuring precision, reliability, and compliance with customer specifications .
Product Portfolio, Order Book, and Execution
Digilogic’s product portfolio includes embedded electronic modules, power electronics, control units, and communication boards. These products typically lie in the growth and maturity stages of client product life cycles, ensuring recurring demand. The company maintains a segment-wise order book with execution spread across automotive, industrial, and defence verticals. Strong in-house engineering enables timely execution and efficient order fulfilment .
Mergers, Capex, and Expansion Plans
The company has undertaken strategic restructuring and consolidation to streamline operations and improve scalability. Proceeds from the IPO are proposed to be utilised for capital expenditure, working capital requirements, and capacity expansion, including upgrading manufacturing lines and strengthening R&D infrastructure. These initiatives aim to support higher order inflows, improved margins, and long-term growth execution .
Employees and Banker Details
December 31, 2025, the company had 102 employees. The Banker to the Company is Axis Bank Limited.
Management and Vision
The management team comprises experienced professionals with strong backgrounds in electronics design, manufacturing, and operations. Their near-term vision focuses on scaling revenues through higher order intake, improving operational efficiencies, and expanding client relationships. Long-term targets include becoming a preferred EMS partner in high-reliability electronics segments. Funding for capex and expansion will be arranged through IPO proceeds, internal accruals, and prudent debt utilisation, ensuring a balanced capital structure .
Industry Overview
Digilogic operates in the Indian Electronics Manufacturing Services (EMS) industry, which is supported by government initiatives like Make in India and PLI schemes. The Indian EMS market is estimated at USD 30–35 billion, growing at a CAGR of 20–25%. Globally, the EMS industry exceeds USD 500 billion, growing at 5–7% annually. Key growth drivers include EVs, industrial automation, medical electronics, and defence electronics, with global leaders including Foxconn and Jabil .
Key Risk Factors
- Client Concentration Risk
A significant portion of revenue is derived from a limited number of clients. Loss of any major customer could adversely impact revenues, margins, and overall financial performance. - Technology Obsolescence Risk
Rapid changes in electronic technologies may require continuous investments in R&D. Failure to upgrade capabilities could reduce competitiveness and order inflows. - Raw Material Price Volatility
Fluctuations in semiconductor and electronic component prices may affect cost structures and profitability if not passed on to customers. - Execution and Capacity Risk
Delays in capacity expansion or execution challenges may impact timely order fulfilment and customer satisfaction. - Regulatory and Compliance Risk
The company operates in regulated sectors like defence and medical electronics, where non-compliance could result in penalties or order cancellations.
Key Strengths, Moat, and Opportunities
- End-to-End EMS Capability
Digilogic offers complete solutions from design to manufacturing, creating a strong entry barrier and long-term client stickiness. - Diversified End-Use Segments
Presence across automotive, industrial, defence, and healthcare reduces dependence on any single sector. - Strong Engineering and R&D Team
In-house design and testing capabilities enhance product reliability and support customised solutions. - Scalable Manufacturing Infrastructure
Modern SMT lines and testing facilities support efficient execution of complex and high-value orders. - Favourable Industry Tailwinds
Government incentives and rising demand for domestic electronics manufacturing present strong growth opportunities. - Long-Term Client Relationships
Repeat orders and long-standing client relationships provide revenue visibility and stability.
Digilogic Systems Limited Financial Information (Restated Consolidated)
Amount in (₹ in Lakhs)
| Period Ended | Sep 30, 2025 | Mar 31, 2025 | Mar 31, 2024 | Mar 31, 2023 |
|---|---|---|---|---|
| Reserve of Surplus | 3,062.22 | 2,900.96 | 1,148.45 | 908.50 |
| Total Assets | 6,452.55 | 7,257.35 | 3,555.43 | 3,549.21 |
| Total Borrowings | 2,203.91 | 1,334.14 | 810.86 | 1,091.86 |
| Fixed Assets | 944.62 | 879.40 | 870.70 | 911.07 |
| Cash | 150.12 | 125.52 | 17.98 | 56.56 |
| Cash flow from operating activities | 320.11 | -1,051.78 | 549.45 | -665.32 |
| Cash flows from investing activities | -1,080.44 | -512.59 | -137.31 | -62.68 |
| Cash flow from financing activities | 771.51 | 1,563.31 | -410.66 | 407.82 |
| Net Borrowing | 2,053.79 | 1,208.62 | 792.88 | 1,035.30 |
| Revenue | 1,828.06 | 7,219.33 | 5,171.30 | 5,611.56 |
| EBITDA | 334.26 | 1,339.96 | 544.45 | 527.65 |
| PAT | 161.26 | 811.35 | 239.96 | 217.51 |
| PAT Margin | 8.82% | 11.24% | 4.64% | 3.88% |
| EPS | 0.72 | 3.89 | 1.2 | 1.09 |
Note 1:- RoE, ROCE & RoNW calculation in KPI is based on 31st Mar, 2025 Data, given in RHP.
Note 2:- Pre EPS and Post EPS calculation in KPI is based (Profit/Loss for the Year) on 31st Mar, 2025 Data, given in RHP.
Note 3:- RoNW calculation in KPI is based on 31st Mar, 2025 Data, given in RHP.
Note 4:- Price to Book Value calculation in KPI is based on Cap Price Post Issue Data, given in FINANCIAL EXPRESS.
Key Performance Indicator
| KPI | Values |
|---|---|
| EPS Pre IPO (Rs.) | 3.89 |
| EPS Post IPO (Rs.) | 2.80 |
| Adjusted 12M EPS Post IPO (Rs.) | 1.11 |
| P/E Pre IPO | 26.74 |
| P/E Post IPO | 37.11 |
| Adjusted 12M P/E Post IPO | 93.36 |
| ROE | 34.57% |
| ROCE | 34.27% |
| P/BV | 6.91 |
| Debt/Equity | 0.4 |
| RoNW | 34.57% |
| EBITDA Margin | 18.60% |
| PAT Margin | 11.24% |
Digilogic Systems Limited IPO Peer Comparison
| Company Name | EPS | P/E (x) | ROE | ROCE | P/BV | Debt/Equity | RoNW (%) |
|---|---|---|---|---|---|---|---|
| Digilogic Systems | 2.80 | 37.11 | 34.57% | 34.27% | 6.91 | 0.40 | 34.57% |
| DCX Systems | 3.49 | 53.65 | 3.11 % | 5.10 % | 1.82 | 0.00 | 3.14 % |
| Zen Technologies | 32.07 | 40.31 | 26.1 % | 37.2 % | 6.17 | 0.01 | 27.85% |
| Data Patterns (India) | 39.62 | 66.91 | 15.2 % | 21.0 % | 9.85 | 0.00 | 15.66% |
| Apollo Micro System | 1.86 | 132.45 | 10.2 % | 14.5 % | 12.95 | 0.29 | 10.02% |
Digilogic Systems Limited Contact Details
Digilogic Systems Limited
Phone: + 040 4547 4601
Email: cs@digilogicsystems.com
Website: http://www.digilogicsystems.com
Digilogic Systems IPO Registrar and Lead Manager(s)
KFIN TECHNOLOGIES LIMITED
Phone: +91 40 6716 2222
Email: digilogic.ipo@kfintech.com
Website: http://www.kfintech.com
INDORIENT FINANCIAL SERVICES LIMITED
Phone: +91-79772 12186
Email: compliance-ifsl@indorient.in
Website: http://www.indorient.in
Digilogic Systems IPO Review
Digilogic Systems Limited is an India-based electronics manufacturing services (EMS) company engaged in designing and manufacturing electronic modules and systems. The company earns revenue through end-to-end product development, manufacturing, testing, and supply of electronic solutions. Its products are used across automotive electronics, industrial automation, defence, medical devices, and IoT applications, catering to OEMs requiring customised and high-reliability electronic systems .
The Company is led by Promoter, i.e.,MR. MADHUSUDHAN VARMA JETTY, MRS. RADHIKA VARMA JETTY, MR. JETTY SHASHANK VARMA AND MR. HITESH VARMA JETTY
The Revenues from operations for the Period ended on Sep 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 1,828.06 Lakh, ₹ 7,219.33 Lakh, ₹ 5,171.30 Lakh, and ₹ 5,611.56 Lakh, The EBITDA for the Period ended on Sep 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 334.26 Lakh, ₹ 1,339.96 Lakh, ₹ 544.45 Lakh, and ₹ 527.65 Lakh, The Profit after Tax for the Period ended on Sep 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were were ₹ 161.26 Lakh, ₹ 811.35 Lakh, ₹ 239.96Lakh, and ₹ 217.51 Lakh, respectively. This indicates a steady growth in financial performance.
The Company Key Performance Indicates the pre-issue EPS of ₹ 3.89 and post-issue EPS of ₹ 2.80 for FY25. The pre-issue P/E ratio is 26.74x,while the post-issue P/E ratio is 37.11x against the Industry P/E ratio is 86.38x The company's ROE for FY25 is 34.57% and RoNW is 34.57%The Annualised EPS is ₹ 1.11x and P/E is ₹ 93.36x, These metrics suggest that the IPO is Fully priced.
The Grey Market Premium (GMP) of Digilogic Systems showing listing gains of 0%.Given the company's financial performance and the valuation of the IPO, we recommend Investors to Avoid to the Digilogic Systems Limited. IPO for Listing gain or Long Term Purposes.
Disclaimer: The information provided in this IPO review is for educational and informational purposes only and should not be construed as financial advice or an offer to buy or sell securities. The review must not be used as a singular basis of any investment decision. The views herein are of a general nature and do not consider the risk appetite or the particular circumstances of an individual investor; readers are requested to take professional advice before investing. Nothing in this document should be construed as investment advice. The content is based on publicly available information and market perceptions as of the date of publication and is subject to change. Neither the author nor the website is responsible for any losses or damages arising from the use of this information. We also use Artificial Intelligence (AI) tools to enhance the efficiency and quality of our research services, including data retrieval, analysis, and report summarization. 1.“Registration granted by SEBI, membership of a SEBI recognized supervisory body (if any) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.” 2. “Investment in securities market are subject to market risks. Read all the related documents carefully before investing.” 3. To read the Disclaimers, Disclosures, Investor Charter, Investor Complaints please visit Legal our website abhayvarn.com
About the Author
CA Abhay Kumar (Also known as CA Abhay Varn) is a qualified Chartered Accountant by profession and cleared CA at age 21. He is a SEBI Registered Research Analyst with Registration Number - INH300008465. He Possesses 8+ years of experience in the Stock Market Field and has also worked in Big CA firms.
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