Kore Digital IPO will open for subscription from 02 June 2023. the company aims for an issue size of ₹18 Cr through this IPO.
Company Overview
| Full name | Kore Digital Limited |
| Sector | Telecom |
| Industry | Telecommunication – Service Provider |
| Company Website | https://koredigital.com/ |
About Company
Incorporated in 2009, Kore Digital was set up with an object to provide high-end communication solutions to corporate and Telecom Network Operators. It is a growing passive telecommunication infrastructure provider in Maharashtra, engaged primarily in the business of installing and commissioning poles, towers, and optical fiber cable (‘OFC’) systems in Maharashtra.
The company also provides support services such as project management for laying of the duct and optic fiber cables, construction of basic transmission and telecom utilities, dark fiber leasing, optical fiber network construction, maintenance of duct and optic fiber, and optical fiber project turnkey services to various, Telecom Network Operators & Broad Band Service Operators and ISPs across Maharashtra.
The company’s top customers in Telecom Network Operators are Bharti Airtel Limited, Vodafone Idea Ltd, Reliance JIO, and Tata Teleservices in Telecom, Vendors are Ductrove Innovations Private Limited, Sterlite Technology Limited, Usha Martin Limited, Broad Band Service Operators are Dvois SSV Private Limited, Intech Online Pvt Ltd, and in ISPs are Dvois Communication Private Limited.
below are the company’s business operation and project execution process:
- Client Engagement and Assignment of Project
- Feasibility Study
- ROW Permission
- Project Execution
The Objective of the Issue
- To meet the Working Capital requirements
- Investment in Strategic Acquisition / Joint Venture
- General Corporate Expenses.
IPO Timetable
| IPO Opening date | 02 June 2023 |
| IPO Closing | 07 June 2023 |
| Basis of Allotment | 12 June 2023 |
| Initiation Refund | 13 June 2023 |
| Credit to Demat Account | 14 June 2023 |
| Listing Date | 15 June 2023 |
IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹18 Cr – 1,000,000 shares |
| Fresh Issue | ₹18 Cr – 1,000,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Offer Price | ₹180 per share |
| Lot size | 800 Shares |
| Retail Allocation | 50% |
| Listing Exchange | NSE SME |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 800 | ₹144,000 |
| Retail (Max) | 1 | 800 | ₹144,000 |
| HNI (Min) | 2 | 1,600 | ₹288,000 |
Reservation Details
| QIB Shares Offered | 50% of the Net Issue |
| others Shares Offered | 50% of the Net Issue |
Financial Performance
| FY 2020 | FY 2021 | FY 2022 | 9M FY 2023 | |
| Revenue | 87.61 | 397.82 | 1,693.92 | 1,195.71 |
| Expenses | 85.79 | 362.53 | 1,392.19 | 863.00 |
| Net income | 1.82 | 25.93 | 217.97 | 241.07 |
Valuations & Margins
| FY 2020 | FY 2021 | FY 2022 | |
| EPS | 0.07 | 1.03 | 8.65 |
| PE ratio | – | – | 20.81 |
| RONW (%) | 22.16 | 75.96 | 86.46 |
| NAV | 0.33 | 1.35 | 10.00 |
| ROCE (%) | 22.17 | 64.44 | 112.89 |
| EBITDA (%) | 2.08 | 10.28 | 18.44 |
| Debt/Equity | 0.00 | 0.64 | 0.07 |
Company Promoters
- Mr. Ravindra Navinchandra Doshi
- Mrs. Kashmira Ravindra Doshi
- Mr. Chaitanya Ravindarera Doshi
Promoter Holding
| Pre Issue Share Holding | 99.70% |
| Post Issue Share Holding | 71.38% |
Lead Manager(s)
FIRST OVERSEAS CAPITAL LIMITED
1-2 Bhupen Chambers, Dalal Street, Fountain,
Mumbai – 400 001, Maharashtra, India
Phone: +91 22 4050 9999
Email: mb@focl.in
Website: www.focl.in
IPO Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor,
Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East,
Mumbai – 400 093
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Contact Details
KORE DIGITAL LIMITED
B 1107-1108, Shelton Sapphire Sector 15,
CBD Belapur Navi Mumbai Thane 400614, Maharashtra
Phone: +916354458154
E-mail: cs@koredigital.com
Website: www.koredigital.com
Allotment Status
Kore Digital IPO allotment status will be available on Bigshare Services’ website. Click on this link to get allotment status.
Final thoughts
Kore Digital IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
