Fixed Price IPO | ₹18 Cr | Listed at NSE SME | Fri, Jun 2, 2023 - Wed, Jun 7, 2023
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 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) (based on upper price). The minimum lot size for investment in 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 Open
Fri, Jun 2, 2023
IPO Close
Wed, Jun 7, 2023
Issue Price
₹180 per share
Market Cap (Pre-IPO)
₹63.36 Cr
| IPO Date | 2 to 7 Jun, 2023 |
| Listed on | Wed, Jun 14, 2023 |
| Face Value | ₹10 per share |
| Issue Price | ₹180 per share |
| Lot Size | 800 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 10,00,000 shares (agg. up to ₹18 Cr) |
| Reserved for Market Maker | 52,000 shares NNM Securities Pvt.Ltd. (agg. up to ₹0.9360 Cr) |
| Fresh Issue (Ex Market Maker) | 9,48,000 shares (agg. up to ₹17 Cr) |
| Net Offered to Public | 9,48,000 shares (agg. up to ₹17 Cr) |
| Share Holding Pre Issue | 25,20,000 shares |
| Share Holding Post Issue | 35,20,000 shares |
| NSE Symbol | KDL |
| ISIN | INE0O4R01018 |
Kore Digital IPO comprises a total issue size of 10,00,000 shares. The net offer to the public is 9,48,000 shares, after excluding 52,000 shares allotted on a firm basis. Of the Net offer 4,74,000 (50.00%) allocated to NII 4,74,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 4,74,000 | 50.00% | 47.40% |
| Retail Shares Offered | 4,74,000 | 50.00% | 47.40% |
| Firm Reservations | |||
| Market Maker Shares Offered | 52,000 | 5.20% | |
| Total Shares Offered | 10,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 800 shares and in multiples thereof.
| 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 |
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 | 31 Dec 2022 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|
| Assets | 15.73 | 14.42 | 5.85 | 1.89 |
| Total Income | 11.96 | 16.94 | 3.98 | 0.88 |
| Profit After Tax | 2.54 | 2.18 | 0.26 | 0.02 |
| NET Worth | 5.06 | 2.52 | 0.34 | 0.08 |
| Reserves and Surplus | 2.54 | 2.51 | 0.33 | 0.07 |
| Total Borrowing | 1.84 | 0.18 | 0.22 | |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To meet the Working Capital requirements | 11.20 |
| 2 | Investment in Strategic Acquisition / Joint Venture | 1.80 |
| 3 | General Corporate Expenses | 4.50 |
| KPI | |
|---|---|
| ROE | 0.67% |
| ROCE | 0.49% |
| Debt/Equity | 0.36 |
| RoNW | 50.18% |
| PAT Margin | 12.86% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 10.08 | |
| P/E (x) | 17.86 | |
| Promoter Holding | 99.70% | 71.38% |
| Market Cap | ₹63.36 Cr. |
The Kore Digital IPO is subscribed 41.56 times on June 7, 2023 7:29:00 PM (Day 4). The public issue subscribed 33.26 times in the retail category, [.] times in the QIB category, and 49.67 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 49.67 | 4,74,000 | 2,35,45,600 |
| Retail | 33.26 | 4,74,000 | 1,57,64,800 |
| Total | 41.56 | 9,48,000 | 3,94,03,200 |
Total Application : 19,706
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue management fees including fees and reimbursements of Market Making fees and payment to other intermediaries such as Legal Advisors to the IPO, Registrars and other out of pocket expenses. | 0.37 |
| 2 | Advertising and marketing expenses | 0.05 |
| 3 | Printing & Stationery, Distribution, Postage | 0.03 |
| 4 | Regulatory and other statutory expenses including Listing Fee | 0.06 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹180.00 |
| Open | ₹201.00 |
| Low | ₹190.95 |
| High | ₹210.00 |
| Last Trade | ₹190.95 |
Lead Manager Reports
Kore Digital IPO is a SME IPO of 10,00,000 equity shares of the face value of ₹10 aggregating up to ₹18 Crores. The issue is priced at ₹180 per share. The minimum order quantity is 800.
The IPO opens on Fri, Jun 2, 2023, and closes on Wed, Jun 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 Fri, Jun 2, 2023 and closes on Wed, Jun 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 Wed, Jun 14, 2023. Check the Kore Digital IPO allotment status.
The Kore Digital IPO listing date is on Wed, Jun 14, 2023.
