Kore Digital IPO

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 nameKore Digital Limited
IndustryTelecommunication – Service Provider
Company Websitehttps://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 date02 June 2023
IPO Closing07 June 2023
Basis of Allotment12 June 2023
Initiation Refund13 June 2023
Credit to Demat Account14 June 2023
Listing Date15 June 2023

IPO details

Issue typeFixed Price Issue IPO
IPO issue size₹18 Cr – 1,000,000 shares
Fresh Issue₹18 Cr – 1,000,000 shares
Offer for saleNil
Face value₹10 per share
Offer Price₹180 per share
Lot size800 Shares
Retail Allocation50%
Listing ExchangeNSE SME

IPO Lot Size

Retail (Min)1800₹144,000
Retail (Max)1800₹144,000
HNI (Min)21,600₹288,000

Reservation Details

QIB Shares Offered50% of the Net Issue
others Shares Offered50% of the Net Issue

Financial Performance

 FY 2020FY 2021FY 20229M FY 2023
Net income1.8225.93217.97241.07
(Amount in ₹ Lakhs)

Valuations & Margins

FY 2020FY 2021FY 2022
PE ratio20.81
RONW (%)22.1675.9686.46
ROCE (%)22.1764.44112.89
EBITDA (%)2.0810.2818.44

Company Promoters

  • Mr. Ravindra Navinchandra Doshi
  • Mrs. Kashmira Ravindra Doshi
  • Mr. Chaitanya Ravindarera Doshi

Promoter Holding

Pre Issue Share Holding99.70%
Post Issue Share Holding71.38%

Lead Manager(s)

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

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

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

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