Kore Digital Limited IPO Detail
Incorporated in 2009, Kore Digital Limited operates as a Telecommunication Infrastructure Provider. The company was set up with the objective of offering high-end communication solutions to corporate and Telecom Network Operators.
Kore Digital primarily operates in Maharashtra. They offer services like installing and commissioning Poles, Towers, and Optical Fibre Cable (OFC) Systems in Maharashtra.
The company has been licensed by the Department of Telecommunications (DoT) with the Infrastructure Provider (IP)-I License in the year 2009. Under the license, they can establish and maintain assets Dark Fibres, right of way, duct space, and tower for the purpose to grant on lease or rent or sale basis to the licensees of Telecom Network Operators, Broad Band Service Operators, and ISPs.
As of 2023, Kore Digital Limited has laid fiber of around 450 Kms for their Telecom Network Operators such as Vodafone Idea Ltd, Bharti Airtel Limited, Reliance Jio, and Tata Teleservices. These include fiber laid under Vendor Projects and their own network running across Mumbai- Navi Mumbai, Thane, Bhiwandi, Kalyan, Panvel, and in Pune.
Company Promoters
Mr. Ravindra Navinchandra Doshi, Mrs. Kashmira Ravindra Doshi, and Mr. Chaitanya Ravindarera Doshi are the promoters of the company.IPO Details
| IPO Opening Date | Jun 02, 2023 |
| IPO Closing Date | Jun 07, 2023 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹180 per equity share |
| Market Lot | 800 Shares |
| Min Order Quantity | 800 Shares |
| Listing At | NSE SME |
| Issue Size | ₹18.00 Cr |
| Fresh Issue | 1,000,000 shares (aggregating up to ₹18.00 Cr) |
| Offer for Sale | - |
| Retail Portion | 47.40% |
IPO Tentative Timetable
The Kore Digital Limited IPO open date is Jun 02, 2023, and the close date is Jun 07, 2023. The issue may list on Jun 15, 2023.
| IPO Open Date | Jun 02, 2023 |
| IPO Close Date | Jun 07, 2023 |
| Basis of Allotment Date | Jun 12, 2023 |
| Initiation of Refunds | Jun 13, 2023 |
| Credit of Shares to Demat Account | Jun 14, 2023 |
| IPO Listing Date | Jun 15, 2023 |
IPO Lot Size
The Kore Digital Limited IPO market lot size is 800 shares. A retail-individual investor can apply for up to 1 lots (800 shares or ₹144000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 800 | ₹144000 |
| Maximum | 1 | 800 | ₹144000 |
IPO Promoter Holding
| Pre Issue Share Holding | 99.70% |
| Post Issue Share Holding | 71.38% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 584.81 | 397.90 | 25.93 |
| 31-Mar-22 | 1441.57 | 1694.45 | 217.97 |
| 31-Dec-22 | 1573.07 | 1195.71 | 253.92 |
Objects of the Issue:
The Net Proceeds from the Issue are proposed to be utilized by the Company for the following objects:
- To meet the Working Capital requirements
- Investment in Strategic Acquisition / Joint Venture
- General Corporate Expenses.
Kore Digital Limited IPO Registrar:
Bigshare Services Pvt Ltd
Kore Digital Limited IPO Lead Manager(s):
First Overseas Capital Limited
Company Contact Information:
Kore Digital Limited
B 1107-1108, Shelton Sapphire Sector 15, CBD Belapur
Thane
Navi Mumbai
