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Kore Digital IPO GMP, Price, Dates & Allotment Details 2023

Kore Digital IPO GMP, Price, Dates & Allotment Details 2023

Introduction

The Kore Digital IPO will open on June 2 and close on June 7, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 18 crores through this public offering, consisting of 10 lakhs shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 180 per share.

Kore Digital Limited (“the Company”)

Kore Digital Limited (Kore Digi) was established with the objective of providing high-end communication solutions to corporate and telecom network operators. The company is a growing passive telecom infrastructure provider in Maharashtra, primarily engaged in the business of installing and commissioning poles, towers, and optical fibre cable (“OFC”) systems in Maharashtra.

The company also provided ancillary services such as project management for duct and optic fibre cabling, construction of infrastructure transmission and telecommunication utilities, dark fibre leasing, optical fibre network construction, duct and optic fibre maintenance, and optical fibre project turnkey services. For various telecom network operators and broadband service operators across Maharashtra. Apart from laying networks under vendor projects or their own networks, they are also engaged in fibre networks’ operation and maintenance activities. They prevent the disconnection of underground optic fibre due to various works like road repair, excavation, and extension. officers.

As of the date of filing of this draught prospectus, the company has laid fibre over approximately 450 kilometres for its telecom network operators, Bharti Airtel Limited, Vodafone Idea Limited, Tata Teleservices, and Reliance Jio, including vendor projects. and my own network is running. Mumbai, Navi Mumbai, Thane, Bhiwandi, Kalyan, Panvel, and Pune

Among telecom network operators, the company’s top customers are Bharti Airtel Limited, Vodafone Idea Limited, Reliance Jio, and Tata Teleservices in telecom. The vendors are Ductrove Innovations Private Limited, Sterlite Technology Limited, and Usha Martin Limited. Broadband service operators are Dvoise SSV Private Limited and Intech Online Pvt. Ltd., and ISPs are Dvoice Communication Pvt. Ltd.

Company strength

  • Established Optic fibre network in Maharashtra
  • Efficient Business Model
  • Co-cordial relationship with our suppliers and contractors

Objects of the Issue,

The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:

  1. To meet the working capital requirements
  2. Investment in strategic acquisitions or joint ventures
  3. General Corporate Expenses

Financial Highlights (Restated)

ParticularsThe period ended on 31st Dec. 2022FY 2021-22FY 2020-21FY 2019-20
Net Worth506252348
Total Assets1,5731,442585189
Reserve & Surplus254251337
Total Borrowings1841822
Total Revenue1,1961,69439888
Profit After Tax254218262
(Amount in ₹ Lakhs)

IPO details

As per the DRHP filed with SEBI, 10 lakh shares will be offered as a fresh issue in the NSE SME segment. The face value of the shares is ₹ 10. The market maker would receive 52,000 shares of the offering. While First Overseas Capital Limited will be the lead manager for the IPO, Bigshare Services Pvt Ltd will be the registrar. It will be a Fixed Price Issue IPO, so the price at which the securities are offered or allotted is known in advance to the investor.

Issue TypeFixed Price Issue IPO
IPO Price₹ 180 per share
Face Value₹ 10 per share
Market Lot800 shares
Issue Size1,000,000 shares (aggregating up to ₹ 18 crores)
Fresh Issue1,000,000 shares (aggregating up to ₹ 18 crores)
Other Shares Offered50% of the Net Issue
Retail Shares Offered50% of the Net Issue
Market MakerNNM Securities
Market maker portion52,000 shares 
Listing AtNSE SME
Company PromotersMr Ravindra Navinchandra Doshi, Mrs Kashmira Ravindra Doshi,
and Mr Chaitanya Ravindarera Doshi

GMP: Kore Digital IPO

GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.

Tentative Dates: Kore Digital IPO

The issue opens for subscription on June 2, 2023, and closes for subscription on June 7, 2023 (both days inclusive). The basis of allotment will be finalised on June 12, 2023, and the refunds will be initiated on June 13, 2023. In addition, the demat credits are expected to happen on June 14, 2023, and the stock will be listed on the NSE SME on June 15, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.

Opening DateJune 2, 2023,
Closing DateJune 7, 2023
Basis of AllotmentJune 12, 2023
Initiation of RefundsJune 13, 2023
A credit of shares to Demat A/cJune 14, 2023
Listing DateJune 15, 2023

Lot Size

The lot size of the Kore Digital IPO is 800 shares. A retail-individual investor can apply for up to 1 lot, i.e. 800 shares of ₹ 144,000.

ApplicationsLotsSharesAmount 
Retail (Minimum)1800₹ 144,000
Retail (Maximum)1800₹ 144,000
HNI (Minimum)21,600₹ 288,000

Promoters Holdings 

Pre-issue Shares Holdings99.70%
Post-issue Shares Holdings71.38%

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
IPO RHP
Company Contact InformationKore Digital Limited
B 1107-1108, Shelton Sapphire Sector 15,
CBD Belapur Navi Mumbai Thane 400614
Phone: +91 6354458154
Email: [email protected]
Website: http://www.koredigital.com/
IPO RegistrarBigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: [email protected]
Website: https://www.bigshareonline.com/
IPO Lead Manager(s)First Overseas Capital Limited

FAQs

The Kore Digital IPO price is ₹ 180 per share

The minimum investment size is one lot for retail investors. One lot of the Kore Digital IPO contains 800 shares of ₹ 144,000.

The finalisation of the basis of allotment for the Kore Digital IPO will be done on June 12, 2023, and the allotted shares will be credited to your demat account by June 14, 2023. Check the Kore Digital IPO allotment status.

The Kore Digital IPO shares listing date is June 15, 2023.

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