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.
Kore Digital IPO Details
| IPO Date | Jun 2, 2023 to Jun 7, 2023 |
| Listing Date | [.] |
| 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 Reservation
| Other Shares Offered | 50% of the Net Issue |
| Retail Shares Offered | 50% of the Net Issue |
Note:
- Market Maker portion of 52,000 equity shares is added to NII Reservation.
- Total Shares offered: QIB+NII+RII.
Kore Digital IPO Timetable (Tentative)
Kore Digital IPO opens on Jun 2, 2023, and closes on Jun 7, 2023.
| Event | Tentative Date |
|---|---|
| Opening Date | Friday, 2 June 2023 |
| Closing Date | Wednesday, 7 June 2023 |
| Basis of Allotment | Monday, 12 June 2023 |
| Initiation of Refunds | Tuesday, 13 June 2023 |
| Credit of Shares to Demat | Wednesday, 14 June 2023 |
| Listing Date | Thursday, 15 June 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Jun 7, 2023 |
Kore Digital IPO Lot Size
The Kore Digital IPO lot size is 800 shares.
| 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 |
Kore Digital IPO Promoter Holding
Mr. Ravindra Navinchandra Doshi, Mrs. Kashmira Ravindra Doshi, and Mr. Chaitanya Ravindarera Doshi are the promoters of the company.
| Pre Issue Share Holding | 99.70% |
| Post Issue Share Holding | 71.38% |
Company Financials
| 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 |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 17.86 |
| ROE | 0.67 |
| ROCE | 0.49 |
| Debt/Equity | 0.36 |
| EPS (Rs) | 10.08 |
| RoNW (%) | 50.18 |
Check Kore Digital IPO Peer Comparison here.
Objects of the Issue
The Net Proceeds from the Issue are proposed to be utilized by the Company for the following objects:
- To meet the Working Capital requirements
- Investment in Strategic Acquisition / Joint Venture
- General Corporate Expenses.
Kore Digital IPO Review (Avoid)
[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…
Kore Digital IPO Prospectus
Company Contact Information
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/
Kore Digital IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://www.bigshareonline.com/