Kore Digital Limited (Kore Digi) was set up with an object to provide high-end communication solutions to corporate and Telecom Network Operators.
The company is a growing passive telecommunication infrastructure provider in Maharashtra, engaged primarily in the business of installing and commissioning of Poles, Towers and Optical Fibre Cable (“OFC”) Systems in Maharashtra.
The company has been licensed by Department of Telecommunications (DoT) with the Infrastructure Provider (IP)-I License in the year 2009, under which Kore Digital can establish and maintain assets Dark Fibres, right of way, duct space and tower.
The company has laid fiber of around 450 Kms for the Telecom Network Operators are Bharti Airtel Limited, Vodafone Idea Ltd, Tata Teleservices and Reliance Jio, which includes fibre laid under Vendor Projects and own network running across Mumbai- Navi Mumbai, Thane, Bhiwandi, Kalyan, Panvel, and in Pune.
Kore Digital top customers in Telecom Network Operators are Bharti Airtel Limited, Vodafone Idea Ltd, Reliance JIO, Tata Teleservices in Telecom, Vendors are Ductrove Innovations Private Limited, Sterlite Technology Limited and Usha Martin Limited, in Broad Band Service Operators are Dvois SSV Private Limited, Intech Online Pvt Ltd, and in ISPs are Dvois Communication Private Limited.
Kore Digital IPO – Details
| IPO Opening Date | 02 June 2023 |
| IPO Closing Date | 07 June 2023 |
| Issue Type | Fixed Price Issue IPO |
| Issue Size | 10,00,000 Shares Worth ₹18.00 Crore Fresh Issue: 10,00,000 Shares Worth ₹18.00 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹180 |
| Market Lot | 800 Shares |
| Min Order | 800 Shares (1 Lot) |
| Listing At | NSE SME |
| Register | Bigshare Services Services Limited |
| Other Shares Offered | 50% |
| Retail Shares Offered | 50% |
Kore Digital IPO – Date Schedule
| IPO Open Date | 02 June 2023 |
| IPO Close Date | 07 June 2023 |
| Basis of Allotment | 12 June 2023 |
| Initiation of Refund | 13 June 2023 |
| Credit of Shares to Demat Account | 13 June 2023 |
| IPO Listing Date | 14 June 2023 |
Kore Digital IPO – Lots Size & Price
| Application | Lots | Shares | Amount ( Cut-Off) |
| Retail (Minimum) | 1 | 800 | 1,44,000 |
| Retail (Maximum) | 1 | 800 | 1,44,000 |
| HNI (Minimum) | 2 | 1600 | 2,88,000 |
Competitive Strengths
- Experienced Promoter, Management Team and Skilled Workforce.
- Established Optic fiber network in Maharashtra.
- Efficient Business Model.
- Co-ordial relationship with the suppliers and contractors.
Company Promoters
- Mr. Ravindra Navinchandra Doshi
- Mrs. Kashmira Ravindra Doshi
- Mr. Chaitanya Ravindra Doshi
Object Of The Issue
- To meet the Working Capital requirements.
- Investment in Strategic Acquisition / Joint Venture.
- General Corporate Expenses.
- To meet the expenses of the Issue.
Company Financial
| Particulars | Total Revenue | Total Expense | Profit After Tax |
|---|---|---|---|
| 31 March 2020 | 0.87 | 0.85 | 0.02 |
| 31 March 2021 | 3.97 | 3.62 | 0.25 |
| 31 March 2022 | 16.94 | 13.92 | 2.17 |
| 31 December 2022 | 11.95 | 8.63 | 2.41 |
Kore Digital IPO Promoter Holding
| Pre Issue Share Holding | 99.70% |
| Post Issue Share Holding | 71.38% |
Kore Digital IPO Prospectus
Company Contact Information
| Kore Digital Limited B 1107-1108, Shelton Sapphire Sector 15, CBD Belapur Navi Mumbai Thane 400614, Maharashtra, India Phone: +91 6354458154 Email: cs@koredigital.com Website: www.koredigital.com |
Kore Digital IPO Registrar
| Bigshare Services Services Limited Phone: +91 22 6263 8200 Email: ipo@bigshareonline.com Website: www.bigshareonline.com |
Kore Digital IPO Lead Manager(s)
| 1. First Overseas Capital Limited |
Kore Digital IPO FAQs
| What is Kore Digital IPO? Kore Digital IPO is a SME IPO. The issue is priced at ₹180 per equity share. The IPO is to be listed on NSE SME. |
| When Kore Digital IPO will open? The IPO is to open on 02 June 2023 for NII and Retail Investors. |
| How to Kore Digital IPO? You can apply Kore Digital IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Kore Digital IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Kore Digital”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Kore Digital IPO through Edelweiss? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Kore Digital”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Edelweiss. |
| What is Kore Digital IPO Size? Kore Digital IPO size is ₹18.00 crores. |
| What is Kore Digital IPO Price Band? Kore Digital IPO Price Band is ₹180. |
| What is Kore Digital IPO Minimum and Maximum Lot Size? The minimum bid is 800 Shares with ₹1,44,000 amount while the maximum bid is 800 shares with ₹1,44,000. |
| What is the Kore Digital IPO Allotment Date? Kore Digital IPO allotment date is 12 June 2023. |
| What is the Kore Digital IPO Listing Date? Kore Digital IPO listing date is 14 June 2023. The IPO is to list on NSE SME. |
