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Jay Jalaram Technologies Ltd IPO (Kore Mobile IPO) Detail

Aug 26, 2022 - Aug 30, 2022

Incorporated in 2012, Jay Jalaram Technologies Limited is engaged in multi-brand retail selling of Smart Phones and allied asscessories from manufacturers like Apple, Samsung, Oppo, Realme, Nokia, Vivo, Xiaomi, Nokia, Redmi, Techno, One Plus, and Xiaomi. The company also offers multi-brand retail selling of consumer durable electronics goods like Smart TVs, Air Conditioners, Fridges, Coolers etc. from brands like TCL, Haier, Diakin, Voltas, Mi, Realme, OnePlus, Xiaomi, and Skytron.

The company operate under the brand name "KORE". As of April 30, 2022, Jay Jalaram Technologies operates from a total of 82 stores across the state of Gujarat. Out of 82 stores 10 are company-owned retail outlets, 65 are franchisee owned and franchise-operated branch retail stores ("FOFO Model") and 7 are franchisee owned and company operated branch retail stores ("FOCO Model").

The company's other business vertical includes an exclusive dealership of Electric Bikes, its spare parts and accessories under the brand name "Revolt" for the Ahmedabad region. As of April 30, 2022, the company sells Electric Bikes through 2 company-owned retail outlets situated at Ashram Road area in Ahmedabad and Nana Chiloda in Gandhinagar.

Competitive Strengths :

  1. Experienced Promoters and Management Team.
  2. Widespread distribution network.
  3. Wide range of Products.
  4. Strategic location and facilities.

Company Financials

Jay Jalaram Technologies Limited Financial Information (Restated)
Period EndedTotal AssetsTotal RevenueProfit After TaxNet WorthReserves and Surplus
31-Mar-191704.759577.07-6.3423.712.71
31-Mar-202487.199523.412.5626.275.27
31-Mar-212839.3512225.329.3555.6234.62
31-Mar-223590.4816555.8587.171067.79796.79
Amount in ₹ Lakhs

Objects of the Issue

The Issue Proceeds from the Fresh Issue will be utilized towards the following objects:

1. To Meet Working Capital Requirements

2. General Corporate Purpose

3. To meet Public Issue Expenses

Kore Mobile IPO Details

Kore Mobile IPO Date Aug 26, 2022 to Aug 30, 2022
Kore Mobile IPO Face Value ₹10 per share
Kore Mobile IPO Price ₹36 per share
Kore Mobile IPO Lot Size 3000 Shares
Issue Size3,000,000 shares of ₹10
(aggregating up to ₹10.80 Cr)
Fresh Issue3,000,000 shares of ₹10
(aggregating up to ₹10.80 Cr)
Issue Type Fixed Price Issue IPO
Listing At NSE SME
NII (HNI) Shares Offered50% of the net offer
Retail Shares Offered50% of the net offer
Company Promoters

Mr. Kamlesh Varjivandas Thakkar, Mr. Kamlesh Hariram Lalwani and Mr. Mukeshkumar Navnitray Bhatt are the company promoters.

Kore Mobile IPO Timeline (Tentative Timetable)

Kore Mobile IPO opens on Aug 26, 2022, and closes on Aug 30, 2022. The Kore Mobile IPO bid date is from Aug 26, 2022 10.00 A.M. to Aug 30, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.

Event Date
Kore Mobile IPO Opening Date Aug 26, 2022
Kore Mobile IPO Closing Date Aug 30, 2022
Basis of Allotment Sep 5, 2022
Initiation of Refunds Sep 6, 2022
Credit of Shares to Demat Sep 7, 2022
Kore Mobile IPO Listing Date Sep 8, 2022

Kore Mobile IPO Lot Size

The Kore Mobile IPO lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹108,000).

Application Lots Shares Amount
Retail (Min) 1 3000 ₹108,000
Retail (Max) 1 3000 ₹108,000

Kore Mobile IPO Promoter Holding

Pre Issue Share Holding 100%
Post Issue Share Holding 73.04%

Kore Mobile IPO Review

The company has marked growth in its top and bottom lines post FY20. It is operating in a highly competitive and fragmented segment. Based on its current earnings, the issue is aggressively priced. Risk seeker/cash surplus investors may invest with a long-term perspective. Read detail review...


Kore Mobile IPO Subscription Status (Bidding Detail)

The Kore Mobile IPO is subscribed 14.97 times on Aug 30, 2022 5:00:00 PM. The public issue subscribed 11.38 times in the retail category, times in the QIB category, and 18.56 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
NII18.56
Retail11.38
Total14.97

Kore Mobile IPO Prospectus

Kore Mobile IPO Rating

134
4.0
Rating:Rated 4.0 stars
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Kore Mobile IPO Listing Date

Listing Date Thursday, September 8, 2022
BSE Script Code
NSE Symbol KORE
Listing In ST Group of Securities
ISIN INE0J6801010
IPO Price ₹36 per share
Face Value ₹10 per share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
NSE SME
IPO Price: ₹36.00
Open: ₹50.00
Low: ₹50.00
High: ₹52.50
Last Trade: ₹52.50

Company Contact Information

Jay Jalaram Technologies Ltd
Office No.103, Shail Mall,
B/H. Girish Cold Drink, Shilp Char Rasta,
C. G. Road, Navrangpura, Ahmedabad -380009
Phone: 079 4899 5415
Email: cs@koremobiles.com
Website: http://www.koremobiles.com/

Kore Mobile IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: jjtl.ipo@linkintime.co.in
Website: https://linkintime.co.in/

Kore Mobile IPO Review

Kore Mobile IPO Recommendation Summary

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Brokers 1 0 0
Members 1 0 0

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IPO Broker Recommendations

Kore Mobile IPO FAQs

Kore Mobile IPO is a SME IPO of 3,000,000 equity shares of the face value of ₹10 aggregating up to ₹10.80 Crores. The issue is priced at ₹36 per share. The minimum order quantity is 3000 Shares.

The IPO opens on Aug 26, 2022, and closes on Aug 30, 2022.

Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.

Zerodha customers can apply online in Kore Mobile IPO using UPI as a payment gateway. Zerodha customers can apply in Kore Mobile IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Kore Mobile IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Kore Mobile IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Kore Mobile IPO opens on Aug 26, 2022 and closes on Aug 30, 2022.

Kore Mobile IPO lot size is 3000 Shares and the minimum order quantity is .

You can apply in Kore Mobile IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Kore Mobile IPO will be done on Sep 5, 2022, and the allotted shares will be credited to your demat account by Sep 7, 2022. Check the Kore Mobile IPO allotment status.

The Kore Mobile IPO listing date is on Thursday, September 8, 2022.
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