02 Jun '23 - 07 Jun '23
₹144,000 / 1 Lots (800 Shares)
₹144,000 / 1 Lots (800 Shares)
Investor category and sub categoryQualified Institutional Buyers | Non-Institutional Investors | Non-Institutional Investors |
Important dates with respect to IPO allotment and listing
IPO Opening Date
Jun 2, 2023
IPO Closing Date
Jun 7, 2023
Basis of Allotment
Jun 12, 2023
Initiation of Refunds
Jun 13, 2023
Credit of Shares to Demat Account
Jun 14, 2023
IPO Listing Date
Jun 15, 2023
UPI Mandatory Expiry Date
Jun 7, 2023
IPO Subscription Details
Day 1Jun 2, 2023
Day 2Jun 5, 2023
Day 3Jun 6, 2023
Day 4Jun 7, 2023
IPO Subscription Status Live
|Investor Category||Subscription (Times)|
|Qualified Institutions Buyer||[.]|
Kore Digital Limited, established in 2009, is a telecommunications infrastructure provider that specialises in delivering advanced communication solutions to corporate clients and telecom network operators. The company’s primary operations are focused in Maharashtra, India. Theyoffer a range of services, including the installation and commissioning of poles, towers, and optical fibre cable (OFC) systems throughout Maharashtra.
In 2009, Kore Digital obtained the Infrastructure Provider (IP)-I License from the Department of Telecommunications (DoT). This licence enables the company to establish and maintain assets such as dark fibres, right-of-way, duct space, and towers. These assets can be leased, rented, or sold to licensees of telecom network operators, broadband service providers, and internet service providers (ISPs).
The company has a strong customer profile and some of their significant customers include Telecom Operators like Bharti Airtel Ltd, Vodafone Idea Limited, Reliance Jio Infocomm, Tata Teleservices (Maharashtra) Ltd and Corporate like SIFY Technologies Limited, and Power Grid Corp.
Kore Digital Limited IPO Details
It is a 100% fresh IPO worth Rs. 18 crore. The issue comprises 10,00,000 shares and is priced at Rs. 180 apiece. Retail investors can bid for the Kore Digital Limited IPO that will open on 2nd June 2023. Kore Digital Limited’s IPO will list on the NSE exchange on 15th June 2023.
Kore Digital Limited IPO Objective
The objectives of Kore Digital Limited's IPO are listed below.
- To meet the working capital requirements.
- Investment in strategic acquisition / joint venture.
- General corporate expenses.
- To meet the expenses of the Issue.
Should you invest in Kore Digital Limited?
Here are a few important reasons to consider before investing in the IPO:
- As of 2023, Kore Digital Limited has significant customers like Reliance Jio, Vodafone Idea Ltd, Tata Teleservices and Bharti Airtel and laid fibre of around 450 kms.
- The company is well-positioned to benefit from the growing demand for telecom infrastructure in India.
Suyog Telematics Limited is a peer listed in India engaged in the same business line. However, considering the nature, range of products/services, turnover and size of the company's business, the peer is not strictly comparable.
Highlights of Kore Digital Ltd.
- Kore Digital Ltd is a well-managed company with a strong track record of growth.
- It has already laid fibre of around 450 Kms for its Telecom Network Operators which include some of the marquee industry names like Vodafone Idea, Bharti Airtel, Reliance Jio, and Tata Teleservices.
Kore Digital Ltd Company Financials
|Particulars||Year ending on 31st December 2022 (Rs. lakhs)||Year ending on 31st March 2022||Year ending on 31st March 2021|
|Revenue from Operations||1,195.71||1,693.92||397.82|
|Profit After Tax (PAT)||253.92||217.97||25.93|
Know before investing
The company is engaged in providing high-end communication solutions.
The company is almost debt free, which means that it has a strong financial position.
The company is expanding into new markets, which will help to increase its revenue and profits.
The issue is aggressively priced based on the financial performance till now.
The company's stock price is volatile, which means that it can fluctuate significantly in price.
The company is not as well-known as larger companies, which could make it more difficult for it to raise capital in the future.
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Kore Digital IPO FAQs
The Kore Digital Ltd IPO contains 10 lakh fresh equity shares for Rs. 18 crore. The price band is fixed at Rs. 180 per share, and the bidding window will open on 2nd June 2023.
The Basis of Allotment will happen on Monday, 12th June 2023.
The lot size for Kore Digital Ltd. is 800 equity shares for one lot.
The IPO subscription window will open on 2nd June 2023.
Retail investors can apply for a minimum of one lot.
Kore Digital Ltd. IPO will list on the NSE exchange on Thursday, 1th5 June 2023.
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Validate with an OTP.
- Enter your application number, DP ID, and PAN number into the app
- Click on ‘Submit’
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange, which is Thursday, 15th June 2023, for Kore Digital Ltd.
The bank will only block the amount initially in your account. Under the new system, the money isn’t debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.