The market for electronic security and smart locking systems in India is expanding quickly. Experts expect the market to reach a value of $2–3 billion by 2030, with a compound annual growth rate of 18–22%. This growth is being driven by more people moving to cities, the rise of smart homes, government smart city initiatives, the need for more security in homes and businesses, and the use of IoT in access control solutions. E-commerce growth, high-end real estate projects, and corporate office expansions are favourable for key segments like digital locks, biometric systems, and smart safes. Domestic demand makes up 80% of sales, and there are ₹5,000+ Cr investments in manufacturing and R&D for next-gen security tech.
DigiLock Systems Private Limited, which was founded in 2018 and is based in Hyderabad, Telangana, makes cutting-edge digital locking solutions like smart padlocks, biometric safes, electromagnetic locks, and access control systems that use RFID, fingerprint, and Bluetooth technologies. The company's 8,500-square-metre facility in Uppal has ISO certifications and can produce more than 2.5 lakh units per year. It serves institutional clients, hotels, warehouses, and real estate developers in South and West India.
In this context, DigiLock Systems is starting a BSE SME IPO with a new issue of ₹65.62 Cr and an OFS of ₹11.33 Cr (at ₹2 face value). The price range for each share is ₹98–104, which adds up to ₹76.95 Cr. The issue starts on January 20, 2026, and ends on January 22, 2026.
Digilogic Systems IPO Details:
Digilogic Systems Issue Management:
Indorient Financial Services Pvt Ltd acts as the book-running lead manager for Digilogic Systems SME IPO, managing underwriting and compliance.
Digilogic Systems IPO RTA (Registrar) Details:
KFin Technologies Pvt Ltd handles allotment, refunds, and demat credits—contact at +91-04067162222, 04079611000 or digilogic.ipo@kfintech.com.
Digilogic Systems IPO Allotment Status:
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Action Links:
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Digilogical Systems Limited operates in the defence and aerospace sectors through its B2G model. It provides full solutions like Automated Test Equipment (ATE) systems, radar and Electronic Warfare simulators, embedded software, application software, and signal processing technologies, mainly by responding to government tenders and contracts from DRDO and The company's main office is at #102 1st Floor, DSL Abacus Tech-Park, Uppal Kalsa Village, Ranga Reddy District, Hyderabad, Telangana 500039. It has manufacturing and research and development facilities that support high-tech defence projects for the Indian armed forces and export opportunities. It plans to use the money from the IPO to pay for capital expenses on a proposed new facility (about ₹50 Cr), pay off loans early (about ₹15 Cr), and other businesses need to increase production capacity as India pushes for more defence indigenisation.
With more than 18 years of experience in the field, ISO certifications, and strong relationships with key clients, like DRDO labs and PSUs, Digilogic Systems Limited provides integrated defence technology solutions for radar simulators, EW systems, ATE platforms, and embedded signal processing. These solutions include system design, development, and prototyping, as well as testing, integration, and lifecycle support.
Digilogic Systems Limited has strong financials ahead of the BSE SME IPO. FY25 revenue is ₹72.06 Cr (+40% YoY), PAT is ₹7.76 Cr (3x growth), and ROE is 33.24%. The IPO will be for ₹65.62 Cr + OFS ₹11.33 Cr (at ₹2 FV) in a price band of ₹98-104. The IPO will open on January 20-22, 2026, with allotment on January 23 and listing on January 28. The lot size is 1,200 shares, which is about ₹117,600 to ₹124,800. Atmanirbhar Bharat defence orders and ₹73,000 Cr in annual capital expenditures on homegrown technology are driving growth.
Digilogic Systems Limited IPO comprises a fresh issue of ₹65.62 Cr (66.95 lakh shares at ₹2 FV) + OFS ₹11.33 Cr (10.89 lakh shares), totalling ₹76.95 Cr at the ₹98-104 price band, aimed at new manufacturing facility capex (₹40 Cr), debt repayment (₹15 Cr), working capital enhancement (₹15 Cr), and general corporate purposes.
Digilogic Systems IPO proceeds will be deployed towards the following objectives:
Digilogic Systems Ltd BSE SME IPO reserves shares across key investor categories per standard SME norms: Retail ≥35%, NII ≥15%, QIB ≤50%, Market Makers ~5-10%.
Digilogic Systems Ltd BSE SME IPO reserves ~25% of the QIB portion for anchor investors, with anchor bidding on January 19, 2026 (one working day before the public opening Jan 20-22).
Lock-in: 50% of anchor shares for 30 days (until ~Feb 21), and the remaining 50% for 90 days (until ~Apr 22), per SEBI SME guidelines.
The anchor allocation document filed right before the issue opens will list specific anchor investor names via registrar KFin Technologies Services.
Digilogic Systems Limited exhibits strong financial metrics, with ROE ~32-35%, ROCE ~42-45%, PAT margin ~10-12%, and EBITDA margin ~18-20% for FY25, based on defence technology growth and government contract execution per RHP disclosures.
At the ₹98-104 BSE SME price band, it trades at ~1.8–2.1x FY25 sales and ~25–28x FY25 EPS (post-issue), which is attractive for a high-growth defense/aerospace tech player amid the Atmanirbhar Bharat push (₹73,000 Cr annual capex), booming indigenous orders, and a 20%+ sector CAGR through 2030.
The important risks and strengths of the Digilogic Systems IPO are mentioned below:
Strengths
Fast Revenue Growth: Revenue rose 40% year over year to ₹72.06 Cr in FY25 from ₹51.56 Cr in FY24, and PAT rose three times to ₹7.76 Cr, thanks to strong performances on defence tenders and government contracts.
High Profitability Metrics: The ROE stands at 33.24%, ROCE 33.32%, EBITDA margin at 18.10%, and PAT margin at 10.77%, showing that the high-barrier defence tech segment is very efficient at running its business.
Established Domain Expertise: Over 18 years of experience serving DRDO labs and PSUs through the B2G model, providing end-to-end ATE, radar/EW simulators, and embedded solutions.
Investor Backing & Order Book: The Negen PMS Undiscovered Value Fund backs it. The Atmanirbhar Bharat indigenisation push helps the government get a lot of orders.
Risks
Dependence on government contracts: 100% B2G revenue model is at risk of cash flow problems due to tender delays, budget cuts, and late payments from DRDO/PSUs.
Order Book Execution Risk: Building a new manufacturing facility (40 Cr capex) on time is hard because of the complicated supply chains in defence electronics.
High Valuation vs Peers: Pre-IPO P/E 25–28x trades at a premium to some peers even though the company is growing quickly. The sector is volatile because of changes in geopolitics.
Customer Concentration: Relying heavily on a small number of defence clients makes you more vulnerable to the risks of contract renewals and payment cycles that are common in government procurement.
Digilogic Systems Ltd has showcased strong financial momentum, with FY25 revenue up 40% from ₹51.56 Cr to ₹72.06 Cr and PAT up 3x from ₹2.58 Cr to ₹7.76 Cr. This is due to the successful execution of high-margin defence contracts in ATE systems, radar simulators, and EW technologies, as detailed in the RHP disclosures.
The company's strategic position in India's ₹73,000 Cr+ annual defence capex (20%+ CAGR) and Atmanirbhar Bharat tailwinds gives it great long-term potential. However, B2G payment cycles and order book volatility make it necessary to carefully assess risk.
Investors are advised to exercise discretion and refer to the full DRHP/RHP document before reaching any investment decision. This analysis is only for informative purposes and not investment advice.
Action Links:
To apply for Digilogic Systems IPO, open a demat account here
Digilogic Systems IPO Subscription Status: Check live subscription here
Digilogic Systems IPO GMP Update: Check latest grey market premium here
1. What are Digilogic Systems' IPO dates in 2026?
Digilock Systems IPO opens Jan 20-22, 2026 (Tue-Thu), anchor bidding on Jan 19, allotment on Jan 23, and BSE SME listing on Jan 28.
Track the Digilogic Systems IPO subscription status live here from Finnpick.
2. What is the Digilogic Systems IPO price band and lot size?
The IPO price band is ₹98-104 per share (face value ₹2). Retail: 1,200 shares min. (₹124,800), NII: 3,600 shares min. Apply via Zerodha/AngelOne/ASBA by Jan 22, 4 PM.
Track the Digilogic Systems IPO GMP here on Finnpick to gauge investor demand before submitting your bid.
3. What is Digilogic Systems' IPO FY25 Financials ROE PAT?
The financials of Digilogic Systems stand at revenue of ₹72.06 Cr (+40% YoY), PAT of ₹7.76 Cr (3x growth), ROE of 33.24%, and EBITDA of 18.10%. The P/E ratio of Digilogic Systems is 25-28x FY25 EPS post-issue, compared to its peers DCX at 53x and Data Patterns at 67x.
4. How to apply for the Digilogic Systems IPO?
Open a demat here (Zerodha/Upstox/AngelOne) or ASBA by January 22, 4 PM. The retail lot is priced at ₹1.2 lakh and will close on January 22 at 4 PM. Monitor the Digilogic Systems IPO subscription tracker here.
5. How to verify Digilogic Systems IPO allotment status?
The allotment date is on Jan 23 and can be checked on the KFin Technologies portal RTA portal using PAN/DP ID.
6. What is Digilogic Systems' IPO GMP today and subscription status?
Current GMP: ₹0 (as of Jan 13). Digilogic Systems IPO GMP trends here and live subscription status is here from the Jan 20th opening only on Finnpick.
7. Who is the lead manager and registrar for the Digilogic Systems IPO?
The lead manager for Digilogic Systems is Indorient Financial and RTA is Kfin Technologies Ltd.
8. When is Digilogic Systems' IPO listing date?
The Digilogic Systems Ltd IPO lists on January 28, 2026, on BSE SME (~T+4 post-allotment Jan 23).
9. How is the Digilogic Systems IPO allocation structured?
The total allocation towards the Digilogic Systems IPO is 77.89L shares: Retail ≥35% (~27L), NII ≥15% (~11.7L), QIB ≤50% (~39L), and MM 5% (3.9L).
10. What is the Digilogic Systems vs DCX/Data Patterns IPO?
The Digilogic P/E stands at 25x vs DCX 53x and Data Patterns 67x. Defence SME with 40% growth and 33% ROE at valuation discount.
