Digikore Studios Receives NSE In-Principle Approval for Rs. 11 Crore Promoter Debt-to-Equity Conversion
Pune (Maharashtra) [India], June 15: Digikore Studios Limited (NSE: DIGIKORE), a leading provider of visual effects and digital content solutions to global entertainment markets, has received in-principle approval from the National Stock Exchange (NSE) for the preferential allotment of equity shares to its Promoter and Managing Director, Mr. Abhishek Rameshkumar More, through the conversion of outstanding promoter funding of up to ₹11 Crore into equity shares.
The approval marks a significant milestone in the Company’s capital strengthening initiatives and reflects the Promoter’s continued commitment to Digikore’s long-term growth and value creation journey. Pursuant to the approved preferential issue, the Company will allot up to 14,15,701 equity shares at a price of ₹77.70 per share, aggregating to approximately ₹11 Crore, against the conversion of unsecured loans extended by the Promoter to support the Company’s business operations and growth initiatives.
The debt-to-equity conversion is expected to materially strengthen Digikore’s balance sheet by reducing liabilities, enhancing net worth, and improving financial flexibility. As the funds have already been deployed in the business, the transaction does not involve any fresh fund raise and represents the Promoter’s decision to further increase his long-term participation in the Company’s future growth.
Following the allotment, the Promoter & Promoter Group shareholding is expected to increase from 58.46% to 62.64%, further aligning promoter interests with the long-term success of the Company, while the management structure and control of the Company will remain unchanged.
