Kore Digital IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Jun 07, 2023Let’s have a detailed review of the company and analytics of the Kore Digital IPO release date, IPO offer price, subscription, Kore Digital Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 180 |
| Listing At | NSE, SME |
| Min. Order Quantity | 800 Shares |
| Listing Date | 15 June 2023 |
| Offer for Sale | Rs Lakh |
| Fresh Issue | Rs 1,800 Lakh |
| IPO Size | Rs 1,800 Lakh |
| Tick Size | 1 |
Kore Digital IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – Kore Digital Share Price |
Kore Digital IPO – Summary
Kore Digital Limited (Kore Digi) was set up to provide high-end communication solutions to corporate and Telecom Network Operators.
They are a growing passive telecommunication infrastructure provider in Maharashtra, engaged primarily in the business of installing and commissioning Poles, Towers and Optical Fibre Cable (“OFC”) Systems in Maharashtra.
The Promoter of this company is MR. RAVINDRA NAVINCHANDRA DOSHI, MRS. KASHMIRA RAVINDRA DOSHI AND MR. CHAITANYA RAVINDRA DOSHI. The lead manager of the issue is FIRST OVERSEAS CAPITAL LIMITED, and the Registrar of this issue is BIG SHARE SERVICES PRIVATE LIMITED.
Kore Digital IPO Date
The opening and closing dates of Kore Digital IPO are 2 June 2023 and 7 June 2023 respectively.
Kore Digital IPO Subscription
| Day / Date | Other | RII | Total Subscription |
| 1st Day – 2nd Jun | 4.09x | 0.18x | 2.24x |
| 2nd Day – 5th Jun | 4.29x | 1.05x | 2.75x |
| 3rd Day – 6th Jun | 5.27x | 4.64x | 4.97x |
| 3rd Day – 7th Jun | 44.86x | 33.26x | 39.46x |
| Shares Offered or Net Issue | 526,000 | 474,000 | 1,000,000 |
The shares subscribed by the public will be updated here.
Kore Digital IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Kore Digital Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | 12 June 2023 |
| Refunds Initiation | 13 June 2023 |
| Credit of Shares to Demat Account | 14 June 2023 |
| Share Listing Date | 15 June 2023 |
Kore Digital IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs.180
Kore Digital IPO Equity Size
This Initial Public Issue of 1,000,000 Equity Shares of Rs.10 each for cash at a price of Rs.180 per equity share aggregating to Rs.1,800 Lakh.
Kore Digital IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 1,000,000 Equity Shares of Rs.10/ each.
Issue Size: 1,000,000 Equity Shares of Rs.10 each, aggregating to Rs.1,800 Lakh
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Kore Digital IPO – Live Performance
The listing date of this IPO is 15 June 2023. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Kore Digital Share Price |
Kore Digital IPO Grey Market Premium
The Kore Digital Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X.
Kore Digital IPO – Company Overview
Their company has been licensed by the Department of Telecommunications (DoT) with the Infrastructure Provider (IP)-I License in the year 2009, under which 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, Telecom Vendors, Broad Band Service Operators and ISPs.
They also provided support services such as includes project management for laying of the duct and optic fibre cables, construction of basic transmission and telecom utilities, dark fibre leasing, optical fibre network construction, maintenance of duct and optic fibre and optical fibre project turnkey services to various, Telecom Network Operators & Broad Band Service Operators across Maharashtra.
Apart from laying the network under the Vendor project or own network, they are also engaged in the operations & maintenance activity of the fibre network and preventing the underground optic fibre therein from getting cut due to activities like road repairs, digging and expansion works by various authorities.
Kore Digital IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakh) | ||||
| 30-Sep-22 | 31-Mar-22 | Mar-21 | 31-Mar-20 | |
| Total Assets | 1,870.05 | 1,441.57 | 584.81 | 188.66 |
| *Total Revenue | 611.18 | 1,694.45 | 397.90 | 87.61 |
| Total Expense | 400.11 | 1,392.19 | 362.53 | 85.79 |
| Profit After Tax | 152.35 | 217.97 | 25.93 | 1.82 |
Earnings per Equity Share (in Lakh)
| 30-Sep-22 | 31-Mar-22 | Mar-21 | 31-Mar-20 | |
| Basic & Diluted | 1,523.52 | 2,179.72 | 259.29 | 18.19 |
Further, their PAT for the period ended on Sep 30, 2022, March 31, 2022, March 31, 2021, and March 31, 2020, were Rs. 135.51 Lakh, Rs. 447.45 Lakh, Rs. 68.04 Lakh and Rs. 26.91 Lakh respectively.
Kore Digital IPO – Promoters
The Promoter of this company is:
- MR. RAVINDRA NAVINCHANDRA DOSHI
- MRS. KASHMIRA RAVINDRA DOSHI
- MR. CHAITANYA RAVINDRA DOSHI
List of Related Parties (Key Managerial Personnel)
- Ravindra Navinchandra Doshi, Managing Director
- Kashmira Ravindra Doshi, Executive Director & CFO
- Chaitanya Ravindra Doshi, Executive Director & CEO
- Ajeet Krishna Kadam, Non-Executive Independent Director
- Hiral Jainesh Shah, Non-Executive Independent Director
Kore Digital IPO – Promoters Holding
- Pre-Issue Share Holding – 99.70%
- Post-Issue Share Holding – 71.38%
Kore Digital IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 1,000,000 Equity Shares aggregating up to Rs.1,800 Lakh |
| of which: | |
| Issue Reserved for the Market Makers | Up to 52,000 Equity Shares aggregating up to Rs. 93,60,000 |
| Net Issue to the Public | Up to 9,48,000 Equity Shares aggregating up to Rs. 17,06,40,000 |
| Of which: | |
| Retail Investors Portion | Not less than 4,74,000 Equity Shares |
| Other than Retail Individual Investors | Not more than 4,74,000 Equity Shares |
| Equity Shares outstanding prior to the Issue | 25,20,000 Equity Shares |
| Equity Shares outstanding after the Issue | 35,20,000 Equity Shares |
Kore Digital IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
- To meet the Working Capital requirements;
- Investment in Strategic Acquisition / Joint Venture; and
- General Corporate Expenses.
Kore Digital IPO – Business Strategy
- Marketing Strategy
- Differentiation
- Reduced Number of Plans
- Pricing Strategy
Kore Digital IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Experienced Promoter, Management Team and Skilled Workforce
- Established Optic fibre network in Maharashtra
- Efficient Business Model
- Co-cordial relationship with their suppliers and contractors
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-22 | 2179.72 | 86.46 | 2521.08 |
| 31-Mar-21 | 259.29 | 75.96 | – |
| Mar-20 | 18.19 | 22.16 | – |
Kore Digital IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Lakhs) | |
| Kore Digital Limited | 10 | 0.08 | 2179.72 | 86.46 | 1694.46 |
| Listed Peers | |||||
| Suyog Telematics Limited | 10 | 44.82 | 40.10 | 21.97 | 15761.5 |
Kore Digital IPO Lead Managers
| Lead Managers |
| FIRST OVERSEAS CAPITAL LIMITED 1-2 Bhupen Chambers, Dalal Street, Fountain, Mumbai – 400 001, Maharashtra, India Tel No.: +91 22 4050 9999 Email: mb@focl.in Investor Grievance Email: investorcomplaints@focl.in Website: www.focl.in Contact Person: Ms. Mala Soneji/ Mrs. Hemali Solanki SEBI Registration No: INM000003671 |
Kore Digital IPO Registrar to offer
| Registrar to the Offer |
| BIGSHARE SERVICES PRIVATE LIMITED S6-2, 6th Floor, Pinnacle Business Park, Mahakali Caves Road, Next to Ahura Centre, Andheri East, Mumbai – 400 093, Maharashtra, India Tel. No.: +91 22 6263 8200 Email:ipo@bigshareonline.com Investor Grievance Email:investor@bigshareonline.com Website: www.bigshareonline.com Contact Person: Babu Rapheal C. SEBI Registration No.: INR000001385 |
Kore Digital IPO – Other Details
- Statutory Auditor – M/s J. N. Gupta & Co., Chartered Accountants
- Legal Counsel to the Company – Ms POOJA SHARMA
- Bankers to the Company – NA
Kore Digital IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Kore Digital Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Kore Digital IPO Review FAQs
Check out various FAQs related to Kore Digital IPO:
What is the Issue Size of Kore Digital IPO?
The Company is making an initial public offer of 1,000,000 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Kore Digital IPO?
The price band for this particular IPO ranges between Rs 180. As far as the face value of the share is of concern, it is Rs. 10 per share.
What is the Kore Digital IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on 2 June 2023, while the closing date is set at 7 June 2023.
What is the Kore Digital IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on 12 June 2023, refund initiation is on 13 June 2023, credit of shares is on 14 June 2023, and share listing date is on 15 June 2023.
What is the Kore Digital IPO Listing Date?
Shares of this company shall be listed in the exchanges on 15 June 2023. The date, when the listing would be done, is stagnant on 15 June 2023.
Who is the Registrar of Kore Digital IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. BIGSHARE SERVICES PRIVATE LIMITED. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Kore Digital IPO?
Here are the promoters of this IPO – MR. RAVINDRA NAVINCHANDRA DOSHI, MRS. KASHMIRA RAVINDRA DOSHI AND MR. CHAITANYA RAVINDRA DOSHI. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Kore Digital IPO?
They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is Kore Digital IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Kore Digital Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2022 in Lakh is 217.97, 2021 is 25.93, and 2020 is 1.82. PAT from Sep 2022 is 152.35.
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