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Kore Digital IPO is a fixed price issue of Rs 18.00 crores. The issue is entirely a fresh issue of 10 lakh shares.
Kore Digital IPO bidding started from June 2, 2023 and ended on June 7, 2023. The allotment for Kore Digital IPO was finalized on Monday, June 12, 2023. The shares got listed on NSE SME on June 14, 2023.
Kore Digital IPO price is ₹180 per share. The minimum lot size for an application is 800 Shares. The minimum amount of investment required by retail investors is ₹144,000. The minimum lot size investment for HNI is 2 lots (1,600 shares) amounting to ₹288,000.
First Overseas Capital Limited is the book running lead manager of the Kore Digital IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Kore Digital IPO is Nnm Securities.
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 |
| Price | ₹180 per share |
| Lot Size | 800 Shares |
| Total Issue Size | 1,000,000 shares (aggregating up to ₹18.00 Cr) |
| Fresh Issue | 1,000,000 shares (aggregating up to ₹18.00 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 2,520,000 |
| Share holding post issue | 3,520,000 |
| Market Maker portion | 52,000 shares Nnm Securities |
Kore Digital IPO offers 1,000,000 shares. 474,000 (47.40%) to NII, 474,000 (47.40%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 52,000 (5.20%) |
| Other Shares Offered | 474,000 (47.40%) |
| Retail Shares Offered | 474,000 (47.40%) |
| Total Shares Offered | 1,000,000 (100%) |
Kore Digital IPO opens on June 2, 2023, and closes on June 7, 2023.
| IPO Open Date | Friday, June 2, 2023 |
| IPO Close Date | Wednesday, June 7, 2023 |
| Basis of Allotment | Monday, June 12, 2023 |
| Initiation of Refunds | Tuesday, June 13, 2023 |
| Credit of Shares to Demat | Wednesday, June 14, 2023 |
| Listing Date | Wednesday, June 14, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 7, 2023 |
Investors can bid for a minimum of 800 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 | 800 | ₹144,000 |
| Retail (Max) | 1 | 800 | ₹144,000 |
| HNI (Min) | 2 | 1,600 | ₹288,000 |
| Lot Size Calculator | |||
Mr. Ravindra Navinchandra Doshi, Mrs. Kashmira Ravindra Doshi, and Mr. Chaitanya Ravindarera Doshi are the promoters of the company.
| Share Holding Pre Issue | 99.70% |
| Share Holding Post Issue | 71.38% |
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 Rs 63.36 Cr.
| KPI | Values |
|---|---|
| ROE | 0.67% |
| ROCE | 0.49% |
| Debt/Equity | 0.36 |
| RoNW | 50.18% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 10.08 | |
| P/E (x) | 17.86 |
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...
The Kore Digital IPO is subscribed 41.56 times on June 7, 2023 7:29:00 PM. 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) |
|---|---|
| Other | 49.67 |
| Retail | 33.26 |
| Total | 41.56 |
Total Application : 19,706 (33.23 times)
| Listing Date | June 14, 2023 |
| BSE Script Code | |
| NSE Symbol | KDL |
| ISIN | INE0O4R01018 |
| Final Issue Price | ₹180 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹180.00 |
| ₹201.00 |
| ₹190.95 |
| ₹210.00 |
| ₹190.95 |
Kore Digital Limited
B 1107-1108, Shelton Sapphire Sector 15,
CBD Belapur
Navi Mumbai Thane 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
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Kore Digital IPO is a SME IPO of 1,000,000 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 Shares.
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 Shares, and the minimum amount required is ₹144,000.
You can apply in Kore Digital 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 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.
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RHP
IPO Mentor (800+ Posts, 800+ Likes)
IPO Guru (1000+ Posts, 700+ Likes)
Is very positive sign for the growth ✨️
Almost equal to last year revenue.
This is going to be multibagger in short term as well as long term.
Sectoral growth is very high.
Available at very cheap rate now.