Digilogic Systems IPO: GMP, Price, Analysis, And Details

Digilogic Systems IPO- Company Analysis 

Digilogic Systems IPO under the SME IPO category is a bookbuild issue of Rs. 81.01 Cr by Digilogic Systems Limited and is designed, developed, integrated, manufactured, supplied, and supported radar and electronic warfare simulators, embedded signal processing solutions, application software, and Automated Test Equipment (ATE) systems for the defense and aerospace engineering industries.

Test systems, system software, and embedded solutions are designed, developed, manufactured, assembled, integrated, and supported by the company. Its products are divided into three categories: (i) Test Systems, which include ATE, checkout systems, and radar/EW simulators; (ii) Application Software, which includes IP cores and data acquisition platforms; and (iii) Services, which include system integration, upgrades, and lifecycle support.

With limited use in industrial automation, the company supports clients in the defense and aerospace industries by offering specialized services in test, simulation, and embedded systems.

Digilogic Systems IPO Details

The Digilogic Systems IPO date of opening is 20 Jan 2026, its initial public offering will end on 22 Jan, IPO allotment on Jan 23 and refund initiation on Jan 27, 2026.

The Rs. 81.01 crore new SME IPO comprises a combination of fresh issue of 0.67 crore shares (Rs. 69.68 Cr) and offer for sale of 0.11 crore shares (Rs. 11.33 Cr).

The Digilogic Systems IPO listing date (expected) might be on Wednesday, Jan 28, 2026, and listing at the BSE and SME. 

The Digilogic Systems IPO price band is Rs. 98 to Rs. 104.

 

 

IPO Timetable (Tentative)

Events	Date
IPO Opening Date	Jan 20, 2026
IPO Closing Date	Jan 22, 2026
IPO Allotment Date	Jan 23, 2026
Refund Initiation	Jan 27, 2026
IPO Listing Date	Jan 28, 2026

 

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Company Financials 

(Amount in Cr)

Particulars	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	72.57	35.55	35.49
Total Income	72.19	51.71	56.12
PAT	8.11	2.40	2.18
EBITDA	13.40	5.44	5.28
Net Worth	33.46	13.48	11.09
Reserves & Surplus	29.01	11.48	9.09
Total Borrowing	13.34	8.11	10.92

 

Cash Flows

(Amount in lac)

Net Cash Flow	31 Mar 2025	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	(1,051.78)	549.45	(665.32)
Net Cash Flow Investing Activities	(512.59)	(137.31)	(62.68)
Net Cash Flow Financing Activities	1,563.31	(410.66)	407.82

 

Revenue Bifurcation

(Rs. in Lac)

(Source: RHP)

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• Expertise in providing aerospace and defense systems.
• Solid industry ties and global cooperation.
• End-to-end solutions.
• Technical platforms that can be reused for effective delivery.
• A skilled and knowledgeable leadership team with industry and technical expertise.
  
  

Listed Peers of Digilogic Systems Ltd. 

Name of the Company	Face Value (₹)	EPS (₹)	P/E Ratio (x)
DCX Systems Limited	2.00	3.49	53.65
Zen Technologies Limited	1.00	32.07	40.31
Data Patterns (India) Limited	2.00	39.62	66.91
Apollo Micro System Limited	1.00	1.86	132.45

 

Valuation

KPI	Value
ROE	34.57%
ROCE	34.27%
Debt / Equity	0.40
RoNW	34.57%
PAT Margin	11.26%
EBITDA Margin	18.60%
Price to Book Value	6.91

 

Evaluation of P/E Ratio

Considering the period ended on FY 2025 with an EPS of Rs. 3.89 from the last year, the resulting P/E ratio is 26.74x.

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IPO's Strengths 

• Expertise in providing aerospace and defense systems.
• Solid industry ties and global cooperation.
• End-to-end solutions.
• Technical platforms that can be reused for effective delivery.
• A skilled and knowledgeable leadership team with industry and technical expertise.

 

 

IPO’s Weaknesses

• It is subject to stringent quality standards, client audits and inspections and any noncompliance could result in the cancellation of current and future orders.
• The company has previously had negative cash flow.
• Cyberattacks and other security lapses could significantly harm the company.

 

Digilogic Systems IPO GMP (Grey Market Premium)

Digilogic Systems IPO GMP today is Rs. 5 as of 16 Jan 2026 while writing this information. With a price band set at Rs. 104. This suggests that the estimated listing price of the IPO could be around Rs. 109, indicating a gain/loss of 4.81%.

Digilogic Systems IPO Summary

IPO Opening & Closing Date	20 Jan, 2026 to 22 Jan, 2026
Face Value	Rs. 2 per Share
Issue Price	Rs. 98 to Rs. 104 per Share.
Lot Size	1200 Shares
Issue Size	77,89,196 Shares (Rs. 81 Cr)
Offer for Sale	10,89,600 Shares (Rs. 11 Cr)
Fresh Issue	63,09,596 Shares (Rs. 66 Cr)
Listing at	BSE, SME
Issue Type	Bookbuild issue IPO
Registrar	Kfin Technologies Ltd.

 

IPO Lot Details 

Retail investors can invest in a minimum of 2 Lots (2400 Shares) for Rs. 2,49,600, and in multiples thereof, while HNI investors can invest in a minimum of 3 Lots (3600 Shares) for Rs. 3,74,400.

Minimum Lot Investment (Retail)	2 Lots
Maximum Lot Investment (Retail)	2 Lots
HNI (Min)	3 Lots

 

Digilogic Systems IPO Allotment Status

To check the Digilogic Systems IPO Allotment Status, visit the official Registrar’s website or BSE website. Below are the website links for you.

Using BSE Website - ​BSE IPO allotment status

Promoters And Management of Digilogic Systems Ltd.

• Mr. Madhusudhan Varma Jetty
• Mrs. Radhika Varma Jetty
• Mr. Shashank Varma Jetty 
• Mr. Hitesh Varma Jetty
  
  

Pre-Issue Promoter Shareholding	88.50%
Post-Issue Promoter Shareholding	-

 

IPO Lead Managers

• Indorient Financial Services Ltd. 
  
  

Dividend Policy

The company has not paid a dividend during the last three financial years.

 

 

Conclusion

Strong ROE, robust margins, and a specialized presence in radar, EW simulators, and embedded systems characterize this defense and aerospace-focused Digilogic Systems IPO. The company is a technically solid SME offering due to its peer-comparable value and end-to-end capabilities. However, investors should carefully consider the risks associated with tight defense compliance and negative operating cash flows before applying.

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

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To Read the Prospectus of the Company Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.