Updated on 28.01.2026|12:31 PM
Digilogic Systems Limited has announced its Initial Public Offering (IPO) on the BSE SME platform. It is a Hyderabad-based technology firm providing Automated Test Equipment and radar simulation systems.
The subscription will open on January 20, 2026, and close on January 22, 2026, with a price band of ₹98 to ₹104 per share. You can check the details of all the upcoming and live IPOs at our IPO hub page which is updated regularly and has all the key parameters.
It provides critical testing and simulation solutions to prestigious clients like DRDO and ISRO, playing a key role in the defence value chain. The offering aims to raise approximately ₹81.01 Crores through a combination of a Fresh Issue and an Offer for Sale (OFS).
In this article, you will find Digilogic Systems IPO GMP today, allotment date, price band, and a detailed review. For subscriptiom status of this and all other IPOs, check our subscription status hub page. And for all the allotment related details, you can check our allotment status hub page which is updated regularly.
Briefs of Digilogic Systems IPO Details:
- Price Band: ₹98 – ₹104 per equity share
- IPO Open / Close Dates: January 20, 2026 – January 22, 2026
- Lot Size: 1,200 Shares (Note: Retail Minimum Application is 2 Lots / 2,400 Shares)
- Issue Size: 77,89,196 Equity Shares / ~₹81.01 Crores
- Fresh Issue: 66,99,596 Shares (₹69.68 Cr)
- Offer for Sale (OFS): 10,89,600 Shares (₹11.33 Cr)
- Registrar: Kfin Technologies Ltd.
- Listing Exchange: BSE SME
The registrar for this IPO is KFin Technologies Limited. If you’re waiting for allotment confirmation or refund updates, we’ve explained the entire process in a simple guide.
Check our detailed KFintech IPO status guide here.
What Is The Digilogic Systems IPO GMP Today?
You can check the GMP of this and other issues at our GMP today page.
Note: The Grey Market Premium (GMP) changes daily based on market demand. It is an unofficial indicator and is not regularised by SEBI, NSE, or BSE. Investors should not rely solely on GMP for investment decisions.
Listing Updates:
| Type | Issue Price | Open | Gain/loss |
| Lisiting | 104 | 83.2 | -20.0 |
What Are The Important Digilogic Systems IPO Dates & Allotment Schedule?
For investors planning their capital allocation, here is the critical timeline for the issue:
- IPO Open Date: Tuesday, January 20, 2026
- IPO Close Date: Thursday, January 22, 2026
- Basis of Allotment Date: Friday, January 23, 2026
- Refund Initiation Date: Tuesday, January 27, 2026
- Credit of Shares: Tuesday, January 27, 2026
- Listing Date: Wednesday, January 28, 2026
What Are The Objectives of Digilogic Systems IPO?
The company proposes to utilize the Net Proceeds from the Fresh Issue towards the following strategic objectives:
- New Facility: A substantial ₹51.74 Crores is earmarked for setting up a new manufacturing facility to expand production capacity and bring environmental testing in-house.
- Debt Repayment: The company plans to use ₹8.00 Crores to prepay or repay a portion of its existing borrowings, thereby reducing finance costs.
- General Corporate Purposes: To meet ongoing operational exigencies and strengthen the corporate structure.
How is The Financial Performance of Digilogic Systems?
The following table summarizes the financial performance of the company based on restated consolidated financial statements.
(Figures in ₹ Crores)
Financial Particulars (in ₹ Crores) | 30 Sep 25 (6 Months) | 31 Mar 25 (FY 2025) | 31 Mar 2024 (FY 2024) | 31 Mar 23 (FY 2023) |
Total Income | 18.28 | 72.19 | 51.71 | 56.12 |
Profit After Tax (PAT) | 1.61 | 8.11 | 2.40 | 2.18 |
EBITDA | 3.34 | 13.40 | 5.44 | 5.28 |
Total Borrowing | 22.04 | 13.34 | 8.11 | 10.92 |
Total Assets | 64.53 | 72.57 | 35.55 | 35.49 |
Source: RHP
Financial Analysis & Observations:
Total Income:
The company reported Total Income of ₹72.19 Crores in FY25, reflecting a significant growth of nearly 40% over FY24. This surge is attributed to the execution of high-value defense contracts and the spillover of projects from the previous fiscal year.
Profit After Tax (PAT):
Digilogic witnessed a remarkable jump in profitability, with PAT rising to ₹8.11 Crores in FY25 from ₹2.40 Crores in FY24. This growth demonstrates the company's ability to scale operations efficiently while maintaining cost controls.
EBITDA:
Operational performance has strengthened, with EBITDA increasing to ₹13.40 Crores in FY25. The EBITDA margin expansion to 18.60% indicates improved operational leverage and cost efficiencies in material procurement.
Total Borrowing:
As of September 2025, borrowings stood at ₹22.04 Crores. The planned repayment of ₹8.00 Crores from IPO proceeds is a prudent step to deleverage the balance sheet and improve the interest coverage ratio.
Assets:
The asset base has expanded to ₹64.53 Crores by September 2025. A significant portion of this includes capital advances for the proposed new facility, signaling the company's commitment to vertical integration and capacity expansion.
What Are The P/E Ratio and Peer Comparison?
Based on its Fiscal Year 2025 earnings per share (EPS) of ₹3.89, the IPO is priced at a Price-to-Earnings (P/E) multiple of approximately 26.74x at the upper end of the price band (₹104).
P/E Ratio = ₹104 (Price) / ₹3.89(Earnings Per Share)
P/E Ratio ≈ 26.74x
Peer Comparison Table (FY 2024-25 Data)
| Company | P/E Ratio | RoNW (%) |
Digilogic Systems | 26.74 | 34.57 |
| DCX Systems | 53.65 | 3.14 |
| Zen Technologies | 40.31 | 27.85 |
| Data Patterns | 66.91 | 15.66 |
| Apollo Micro Systems | 132.45 | 10.02 |
Analysis:
Digilogic Systems is entering the market with a P/E multiple of approximately 26.74x. The industry average P/E is above 86x, while listed peers include Zen Technologies (40.31x) and Data Patterns (66.91x). The company reports a Return on Net Worth (RoNW) of 34.57%, which is higher than the RoNW reported by these peers.
What is the Industry Outlook Digilogic Systems Limited?
Growth Potential:
The Indian defense electronics market is projected to grow significantly, driven by the government's target of achieving a defense turnover of $25 billion by 2025. The Test and Measurement Systems (TMS) market alone is expected to reach ₹9,174 Crores by FY30.
Market Trends:
The "Aatmanirbhar Bharat" initiative mandates indigenization, creating a favorable environment for domestic players like Digilogic. The shift towards simulation-based testing and digital twins in defense R&D further expands the addressable market.
What Are The Strengths and Risks of Digilogic Systems IPO?
Strengths:
- Niche Expertise: With over 18 years of experience, the company has deep domain knowledge in radar simulation and EW systems, creating a high entry barrier.
- Strong Client Relationships: Serving marquee clients like DRDO and ISRO ensures a steady flow of repeat business (85% in FY25).
- High Profitability: The company demonstrates strong margins and capital efficiency, outperforming many peers in RoNW.
Risks:
- Customer Concentration: The top three clients contribute nearly 85% of revenue. Any policy change or budget cut in these government bodies could impact financials.
- Geographic Concentration: Operations are heavily concentrated in Hyderabad. Any regional disruption could affect business continuity.
- Working Capital Intensity: The nature of government contracts often involves long payment cycles, necessitating robust working capital management.
Key Considerations for Investors
This section is for information purposes only and does not constitute financial advice.
Investors should note the Minimum Investment structure.
- Minimum Application: The lot size is 1,200 Shares. Based on the data provided, the minimum application for Retail Individual Investors is 2 Lots (2,400 Shares), amounting to ₹2,49,600. Note: This investment amount exceeds the typical ₹2 Lakh retail limit, essentially treating retail applicants as Small-HNI.
- Valuation: At ~26.7x P/E, the valuation leaves room for upside compared to industry peers trading at 40x-130x.
- Growth Strategy: The clear allocation of funds for a new facility indicates a focus on scaling up manufacturing capabilities to meet future demand.
Standard Disclaimer: This article is strictly for educational purposes. Please consult a SEBI-registered investment advisor before making any investment decisions.
Key Takeaways
- IPO Price: ₹104 per share (Upper Band).
- Min Investment: ₹2,49,600 (2,400 Shares).
- Allotment Date: January 23, 2026
- Listing: BSE SME platform on January 28, 2026.
FAQs on Digilogic Systems IPO
What is Digilogic Systems IPO GMP today?
The GMP is a dynamic market sentiment indicator. Check the details of gmp at our gmp today page which is updated regularly.
What is Digilogic Systems IPO price band?
The price band is fixed at ₹98 to ₹104 per equity share.
What is Digilogic Systems IPO allotment date?
The allotment status is expected to be finalized on Friday, January 23, 2026.
How to check Digilogic Systems IPO allotment status?
Investors can check the status on the website of Kfin Technologies Ltd. (the Registrar) or via the BSE IPO allotment portal.
What is Digilogic Systems IPO listing date?
The shares are tentatively scheduled to list on Wednesday, January 28, 2026.
Investment Perspective on Digilogic Systems IPO
Digilogic Systems offers a specialized play in the defense tech sector with impressive profitability ratios. While the valuation is attractive relative to peers, the high customer concentration and minimum investment ticket size are key factors for investors to weigh carefully.
