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Kore Mobile IPO is a fixed price issue of Rs 10.80 crores. The issue is entirely a fresh issue of 30 lakh shares.
Kore Mobile IPO bidding started from August 26, 2022 and ended on August 30, 2022. The allotment for Kore Mobile IPO was finalized on Monday, September 5, 2022. The shares got listed on NSE SME on September 8, 2022.
Kore Mobile IPO price is ₹36 per share. The minimum lot size for an application is 3000 Shares. The minimum amount of investment required by retail investors is ₹108,000. The minimum lot size investment for HNI is 2 lots (6,000 shares) amounting to ₹216,000.
Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Kore Mobile IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Kore Mobile IPO RHP for detailed information.
| IPO Date | August 26, 2022 to August 30, 2022 |
| Listing Date | September 8, 2022 |
| Face Value | ₹10 per share |
| Price | ₹36 per share |
| Lot Size | 3000 Shares |
| Total Issue Size | 3,000,000 shares (aggregating up to ₹10.80 Cr) |
| Fresh Issue | 3,000,000 shares (aggregating up to ₹10.80 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Market Maker portion | 150,000 shares |
Kore Mobile IPO offers 3,000,000 shares. 1,425,000 (47.50%) to NII, 1,425,000 (47.50%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 150,000 (5.00%) |
| Other Shares Offered | 1,425,000 (47.50%) |
| Retail Shares Offered | 1,425,000 (47.50%) |
| Total Shares Offered | 3,000,000 (100%) |
Kore Mobile IPO opens on August 26, 2022, and closes on August 30, 2022.
| IPO Open Date | Friday, August 26, 2022 |
| IPO Close Date | Tuesday, August 30, 2022 |
| Basis of Allotment | Monday, September 5, 2022 |
| Initiation of Refunds | Tuesday, September 6, 2022 |
| Credit of Shares to Demat | Wednesday, September 7, 2022 |
| Listing Date | Thursday, September 8, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 30, 2022 |
Investors can bid for a minimum of 3000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹108,000 |
| Retail (Max) | 1 | 3000 | ₹108,000 |
| HNI (Min) | 2 | 6,000 | ₹216,000 |
| Lot Size Calculator | |||
Mr. Kamlesh Varjivandas Thakkar, Mr. Kamlesh Hariram Lalwani and Mr. Mukeshkumar Navnitray Bhatt are the company promoters.
| Share Holding Pre Issue | 100% |
| Share Holding Post Issue | 73.04% |
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 :
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus |
|---|---|---|---|---|---|
| 31-Mar-19 | 1704.75 | 9577.07 | -6.34 | 23.71 | 2.71 |
| 31-Mar-20 | 2487.19 | 9523.41 | 2.56 | 26.27 | 5.27 |
| 31-Mar-21 | 2839.35 | 12225.3 | 29.35 | 55.62 | 34.62 |
| 31-Mar-22 | 3590.48 | 16555.85 | 87.17 | 1067.79 | 796.79 |
| Amount in ₹ Lakhs | |||||
The market capitalization of Kore Mobile IPO is Rs 40.07 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 46 |
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
[Dilip Davda] 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...
The Kore Mobile IPO is subscribed 14.97 times on August 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)
| Category | Subscription (times) |
|---|---|
| Other | 18.56 |
| Retail | 11.38 |
| Total | 14.97 |
| Listing Date | September 8, 2022 |
| BSE Script Code | |
| NSE Symbol | KORE |
| ISIN | INE0J6801010 |
| Final Issue Price | ₹36 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹36.00 |
| ₹50.00 |
| ₹50.00 |
| ₹52.50 |
| ₹52.50 |
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/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: jjtl.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
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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 August 26, 2022, and closes on August 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
Visit Zerodha IPO Application Process Review for more detail.
The Kore Mobile IPO opens on August 26, 2022 and closes on August 30, 2022.
Kore Mobile IPO lot size is 3000 Shares, and the minimum amount required is ₹108,000.
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, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Kore Mobile IPO will be done on Monday, September 5, 2022, and the allotted shares will be credited to your demat account by Wednesday, September 7, 2022. Check the Kore Mobile IPO allotment status.
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Even ameya has super listing today and JFL also listed well too...
congrats to everyone for good profits....