Digilogic Systems Limited has formally presented comprehensive details of Project Udaan to BSE Limited, marking a significant expansion milestone for the defence and aerospace systems manufacturer. The presentation, submitted under Regulation 30 of SEBI listing requirements, outlines the company's ambitious plans to establish a state-of-the-art manufacturing facility.

Project Overview and Strategic Positioning

Project Udaan represents one of the major objectives from Digilogic Systems' maiden public issue on BSE SME in January 2026. The project aims to establish a new facility for manufacturing electronic sub-systems, environmental stress screening, section level integration of sub-systems, and capacity expansion of current capabilities.

Regulatory Approvals and Timeline

The company has successfully obtained all necessary regulatory approvals for Project Udaan. The approvals include permission from Ground Water Department, building plan approval from Industrial Area Local Authority, factory plan approval from Department of Factories, Telangana, consent for establishment from Telangana State Industrial Department, and environmental clearance from Telangana State Pollution Control Board.

Manufacturing Capabilities and Technology

Project Udaan will introduce Electronic Manufacturing Services (EMS) capabilities, positioning Digilogic as a comprehensive "one-stop shop" for electronic component manufacturing, assembly, and testing. The facility will feature advanced equipment including pick and place machinery, reflow ovens for SMT assembly, X-ray machines, and automated optical inspection units.

The Environmental Stress Screening (ESS) facility will validate Line Replaceable Units to mechanical and extreme environment stresses, simulating real-world conditions such as thermal conditions and vibration testing. This capability is predominantly utilized by aerospace and defence sectors for testing radar sub-systems, navigation, communication units, and flight control systems.

Financial Projections and Growth Outlook

Digilogic Systems has provided detailed financial estimates incorporating Project Udaan's contribution. The company expects revenue growth of 20-25% till FY 28 and 30-35% from FY 29 post commissioning of Project Udaan.

Revenue from Project Udaan is expected to commence in the second half of FY 29 onwards, contributing 11 ~ 13 crores in FY 29, growing to 57 ~ 61 crores by FY 31.

Company Background and Market Position

Established in 2007 as a partnership firm, Digilogic Systems was converted to a private limited company in 2011 and became a public limited company in 2025. The company was listed on BSE SME in January 2026. Headquartered in Hyderabad with a marketing office in Bengaluru, Digilogic is engaged in the design, development, manufacture, integration, import, export and supply of defence, aerospace and dual-use systems and components. The company aligns its vision with the "Make in India" policy, helping reduce dependency on external solutions through in-house capabilities.

Negen Capital Services Private Limited has submitted a regulatory disclosure to the Bombay Stock Exchange regarding substantial acquisition of shares in Digilogic Systems Limited. The disclosure, filed under Regulation 29 of SEBI's Substantial Acquisition of Shares and Takeovers Regulations, 2011, details the increased shareholding of entities under common management following the company's Initial Public Offer.

Acquisition Details

The acquisition involves three related entities: Negen Undiscovered Value Fund (NUVF), Negen Capital Services Private Limited, and Neil Madan Bahal. NUVF is a scheme of Negen Investment Trust, which is registered with SEBI as a Category III Alternative Investment Fund bearing registration number IN/AIF3/22-23/1254. Negen Capital Services serves as the Investment Manager to NUVF, while Neil Madan Bahal is the Director and Ultimate Beneficial Owner of Negen Capital Services.

Shareholding Structure

The entities' shareholding structure shows a significant increase following the IPO participation. Prior to the Initial Public Offer, the combined entities held 17,97,850 equity shares representing 8.08% of the pre-issue equity share capital.

Pre-IPO Holdings:

Post-IPO Holdings:

Regulatory Compliance

The disclosure was made on a prudential basis under Regulation 29(1) and Regulation 29(2) of the Takeover Regulations, considering the aggregate holding of entities under common management. The company noted that while the pre-IPO shareholding had already been disclosed in the Red Herring Prospectus and the IPO allotment was disclosed as part of the IPO process, this additional disclosure ensures full regulatory compliance.

The equity share capital of Digilogic Systems increased from 2,22,52,630 shares before the acquisition to 2,89,51,030 shares after the IPO completion. The disclosure was signed by Jigar Dinesh Shah, Director of Negen Capital Services Private Limited, on January 27, 2026, from Mumbai.