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Kore Digital IPO is a fixed price issue of ₹18.00 crores. The issue is entirely a fresh issue of 0.10 crore shares of ₹18.00 crore.
Kore Digital IPO bidding started from Jun 2, 2023 and ended on Jun 7, 2023. The allotment for Kore Digital IPO was finalized on Jun 12, 2023. The shares got listed on NSE SME on Jun 14, 2023.
Kore Digital IPO price is ₹180.00 per share . The lot size for an application is 800. The minimum amount of investment required by an individual investor (retail) is ₹1,44,000 (800 shares). The minimum lot size investment for HNI is 2 lots (1,600 shares), amounting to ₹2,88,000.
First Overseas Capital Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The market maker of the company is NNM Securities Pvt.Ltd..
Refer to Kore Digital IPO RHP for detailed Information.
| IPO Date | June 2, 2023 to June 7, 2023 |
| Listing Date | June 14, 2023 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹180 per share |
| Lot Size | 800 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 10,00,000 shares (aggregating up to ₹18.00 Cr) |
| Reserved for Market Maker | 52,000 shares NNM Securities Pvt.Ltd. (aggregating up to ₹0.9360 Cr) |
| Net Offered to Public | 9,48,000 shares (aggregating up to ₹17.06 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 25,20,000 shares |
| Share Holding Post Issue | 35,20,000 shares |
Kore Digital IPO offers total 10,00,000 shares. Out of which 4,74,000 (47.40%) allocated to NII, 4,74,000 (47.40%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 52,000 (5.20%) |
| NII (HNI) Shares Offered | 4,74,000 (47.40%) |
| Retail Shares Offered | 4,74,000 (47.40%) |
| Total Shares Offered | 10,00,000 (100.00%) |
Kore Digital IPO opens on June 2, 2023, and closes on June 7, 2023.
| IPO Open Date | Fri, Jun 2, 2023 |
| IPO Close Date | Wed, Jun 7, 2023 |
| Tentative Allotment | Mon, Jun 12, 2023 |
| Initiation of Refunds | Tue, Jun 13, 2023 |
| Credit of Shares to Demat | Wed, Jun 14, 2023 |
| Tentative Listing Date | Wed, Jun 14, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Jun 7, 2023 |
Investors can bid for a minimum of 800 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 800 | ₹1,44,000 |
| Retail (Max) | 1 | 800 | ₹1,44,000 |
| HNI (Min) | 2 | 1,600 | ₹2,88,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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.
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 188.66 | 87.61 | 1.82 | 8.21 | 7.21 | |
| 31-Mar-21 | 584.81 | 397.90 | 25.93 | 34.14 | 33.14 | 21.96 |
| 31-Mar-22 | 1,441.57 | 1,694.45 | 217.97 | 252.11 | 251.11 | 17.72 |
| 31-Dec-22 | 1,573.07 | 1,195.71 | 253.92 | 506.02 | 254.02 | 184.18 |
| Amount in ₹ Lakhs | ||||||
The market capitalization of Kore Digital IPO is ₹63.36 Cr.
| KPI | Values |
|---|---|
| ROE | 0.67% |
| ROCE | 0.49% |
| Debt/Equity | 0.36 |
| RoNW | 50.18% |
The Net Proceeds from the Issue are proposed to be utilized by the Company for the following objects:
[Dilip Davda] The company operates in a highly competitive and fragmented segment with many players around. The sudden boost in its bottom line from FY22 onwards raises eyebrows and concern over sustainability going forward. Based on its financial performance so far, the issue appears aggressively priced. Tiny equity capital post-IPO indicates a longer gestation period for migration to the mainboard. There is no harm in skipping this greedily priced issue. Read detail review...
| Listing Date | June 14, 2023 |
| BSE Script Code | |
| NSE Symbol | KDL |
| ISIN | INE0O4R01018 |
| Final Issue Price | ₹180 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹180.00 |
| Open | ₹201.00 |
| Low | ₹190.95 |
| High | ₹210.00 |
| Last Trade | ₹190.95 |
Kore Digital Ltd.
B 1107-1108, Shelton Sapphire Sector 15,
CBD Belapur
Navi Mumbai Thane,
Mumbai, Maharashtra, 400614
Phone: +91 6354458154
Email: cs@koredigital.com
Website: http://www.koredigital.com/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Kore Digital IPO is a SME IPO of 10,00,000 equity shares of the face value of ₹10 aggregating up to ₹18.00 Crores. The issue is priced at ₹180 per share. The minimum order quantity is 800.
The IPO opens on June 2, 2023, and closes on June 7, 2023.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Kore Digital IPO using UPI as a payment gateway. Zerodha customers can apply in Kore Digital IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Kore Digital IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Kore Digital IPO opens on June 2, 2023 and closes on June 7, 2023.
Kore Digital IPO lot size is 800, and the minimum amount required for application is ₹1,44,000.
You can apply in Kore Digital IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Kore Digital IPO will be done on Monday, June 12, 2023, and the allotted shares will be credited to your demat account by Wednesday, June 14, 2023. Check the Kore Digital IPO allotment status.
The Kore Digital IPO listing date is on Wednesday, June 14, 2023.
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