Digikore Studios listing at 57% premium
时间:2024-06-16 20:14:12 阅读(143)
Visual effects company, Digikore Studios listed its shares on the National Stock Exchange on Wednesday at a premium of 57% over the IPO price. The Pune-based VFX company IPO was oversubscribed by 243.11 times with the company receiving applications worth Rs 5,411 crore, making it the third largest SME IPO subscription in the country.
The Rs 30.48 crore Digikore issue was priced at Rs 171 per share and was listed at Rs 270 on the NSE Emerge on Wednesday. Investors bid for a 31.64 crore share, exceeding the total offering of 13.01 lakh shares.
Digikore works with Disney, Marvel, Netflix, Amazon, Apple, Warner Brothers, Sony, Paramount, and Lionsgate.
Digikore Studios started as a 2D animation and ventured into VFX with James Cameron’s Titanic 3D project. Digikore has been focused on Hollywood films. Since Covid, the online streaming platforms have emerged as an significant customer segment for the company. It now accounts for 25% of their revenues. The OTT platforms will account for 80% of revenues in future, he said.
The VFX industry is undergoing a shift toward virtual production, and Digikore has been an early adopter of this technology. This would drive substantial revenue and profits in the coming years, he added.
Digikore has provided VFX for films such as Thor: Love and Thunder, Black Panther: Wakanda Forever, Deadpool, Star Trek, Jumanji, Stranger Things, Game of Thrones, The Last Ship, and Ghost Rider: Spirit of Vengeance, among others.
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If the current trend continues for a longer period of time, not only oil mills but oilseeds growers will also not be able to get good rates of their produce, says Samir Shah, president of Gujarat State Edible Oils and Oil Seeds Association (GEOA). Shah who is also past president of SOMA says that due to various international factors rates of edible oils had gone up considerably, especially imported oils earlier this year.
“With a view to curb rising prices of edible oil, the Government of India reduced import duty on edible oils. Considering the fact that India is producing hardly 30 percent of its edible oil requirement, the decision was right at that point of time. Now when international prices of edible oils have gone down by 15 percent to 25 percent and high production period has started in edible oil exporting countries, the government should gradually increase import duty to protect local oil mills and oilseeds growers,” said Shah. GEOA has also made representation before Union Minister for Commerce & Consumer Affairs, Piyush Goyal to increase import duty.
In June import duty on edible oils was ranging from 35 to 55 percent, since then the government gradually reduced import duty and at present it is ranging from zero percent to 15 percent on different edible oils, he said.
Just a month back prices of edible oils were through the roof and the government took appropriate measures by reducing import duty in order to protect consumers, says Atul Chaturvedi, president of Solvent Extractors Association of India (SEA). “Prices of edible oils are coming down globally. Kharif sowing has already started across the country. In the interest of local farmers, it is high time to enhance import duty in a phased manner to encourage local edible oil value chain,” opined Chaturvedi.
On Thursday imported Palm oil prices were at around Rs 2100 per 15 kg as against local Rs 2700 and Rs 2550 of groundnut and cottonseed oils. Prices of other local oils including ricebran, coconut, soyabean and mustard remained as high as Rs 2350, Rs 2520, Rs 2500 and Rs 2580 respectively.
India imports around 13-13.5 million tonnes of edible oils, of which around 8-8.5 million tonnes (around 63 per cent) are palm oil. Though the price of other imported Sunflower oil remained at around Rs 2700 per 15 kg, but import quantity of the oil is much lower than that of palm oil.
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