Kore Digital Limited IPO:- Kore Digital Limited IPO company started in 2009. The company works for the telecommunication sector as an infrastructure provider. company offers top-notch solutions to both corporate and telecom network operators in installing and commissioning pole , towers also optical fiber cables system in particular area mainly this time focus are of Maharashtra region of Mumbai , Navi Mumbai, Thane , Bhiwandi, Kalyan, Panval and in Pune .company is well license by the department of telecommunication (DTO) with the infrastructure provider in year 2009 for asset of fiber rig duct space and tower and also if required the asset can give on leased , rented or sold to license of telecom network operator broadband service
Kore Digital Limited IPO – Dates, Price, GMP, DRHP
- The primary activity of Kore Digital, a developing passive communications infrastructure provider in Maharashtra, is the installation and commissioning of poles, towers, and optical fibre cable (“OFC”) systems throughout the state. “OFC” is used to host and support the functioning of the active infrastructure utilised for sending telecommunications signals or transferring voice and data traffic. “Passive structure” applies to the telecommunication structures for wireless service providers.
- As a passive communication infrastructure company, they are primarily focused on offering passive communication infrastructure services to telecom network operators, telecom vendors, broadband service operators, and internet service providers (or “ISPs”) in Maharashtra, particularly in areas close to Mumbai.
- They also offered support services to a variety of Telecom Network Operators and Broad Band Service Operators in Maharashtra, including project management for the laying of duct and optical fibre cables, building basic transmission and telecom utilities, leasing dark fibre, building optical fibre networks, maintaining duct and optical fibre, and providing turnkey services for optical fibre projects.
- iv. The business has installed fibre for its telecom network operators, Bharti Airtel Limited, Vodafone Idea Ltd, Tata Teleservices, and Reliance Jio, totaling about 450 kilometres. This includes fibre installed under vendor projects as well as fibre on the company’s own network that spans Mumbai, Navi Mumbai, Thane, Bhiwandi, Kalyan, Panvel, and Pune.
iv. Their top clients include Bharti Airtel Limited, Vodafone Idea Ltd, Reliance JIO, Tata Teleservices in the telecom industry, as well as Ductrove Innovations Private Limited, Sterlite Technology Limited, and Usha Martin Limited as vendors. Dvois SSV Private Limited, Intech Online Pvt Ltd, and Dvois Communication Private Limited serve as their top broadband service operators and ISPs, respectively.
Kore Digital Limited IPO Strength point in company
The company main customers are Vodafone idea Ltd, Bharti Airtel limited, Reliance Jio and Tata teleservices and also up to financial year 2023 they set up 450km of fibers for their operator.
- Well reputed & experience promoter and skilled worker,
- Working in the developing region of Maharashtra.
- good relationship with suppliers and contractor
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Aim of company
Company applied for an IPO for fund raising of ₹18 crore for the following reasons.
1.for working capital need (for this company utilizing 11.2 crore of the fund)
2.for investment in strategic acquisition/joint venture list (1.80 crore use by company for this purpose)
3.some general corporate expense (4.50 crore in this sector)
and 0.50 crore use in ipo and other processes
IPO started from 2 June and ended on 7 June on Wednesday of 2023 for. With the face value of 10₹ per share . Total launched 10 lakh share at the NSE SME IPO and for every fresh issue share cost of ₹180 per share and the minimum order of share need to take is 800 at the cost of 144,000 in one a lot
47.40% share issues for the retail investors and other 52.60% allotted for HNI, corporates, institution (NII and QIB)
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Promoter and shareholder of ko digital
- Mr. Ravindra Navinchandra Doshi
- Mr. Kashmir Ravindra Doshi
- Mr. Chaitanya Ravindarera Doshi
- Promoter, Chairman, and Managing Director is Mr. Ravindra Navinchandra Doshi, 61. He has a postgraduate diploma in management and a master’s in science. He is actively involved in running the business. He has been in the business for over 32 years. He is essential in the formulation and successful application of corporate strategy. He is in charge of the company’s business expansion and general management.
- Mrs. Kashmira Ravindra Doshi, 57, is the promoter, executive director, and chief financial officer. She has a Bachelor of Commerce degree. She has been in the business for more than 30 years. She provided assistance with the company’s financial management. She is now investigating the company’s technological and financial issues.
- Mr. Chaitanya Ravindra Doshi, a CEO, executive, and promoter, is 26 years old. He has a Bachelor of Technology in Biotechnology degree. He is now engaged in developing and managing the executive team as well as formulating and carrying out the organization’s strategy.
Pre issues stake of promoter is 99.7% and after issue promoter shares diluted up to 71.38%
Financial status of company
In financial year 2020: revenue of company is 0.88 crore expenditure of company is 0.86 crore and net profits is0.22 crore
In financial year 2021 revenue of company is 3.98 crore , expense is 3.63 crore and net profits 0.26 crore
In financial year 2022 revenue is 16.94 and expense is 13.92 crore and profit 2.18 crore
In 2023 9M : revenue is 11.96 crore expense is 8.63 crore and net profit 2.41
The growth in both revenue and profit in recent years shows the company is growing at a good pace.
The Assets of the company also increase as in year 2020 asset is 1.88 crore and in Dec 2022 asset increase to 15 crores.
- Reserve and surplus of the company
In 31 March 2020: 7.21 lakh with 0 borrowing,
In 31 March 2021:33.14 lakh with 21.96 borrowing
In 31 march2022 :251.11lakh with 17.72 borrowing
In 3 1 Dec 2022:254.02 lakh with 184.18 borrowing
overall company assets grow fast and have decent in-hand money also debt is increasing but in-hand liquid money can easily accommodate this One issue is that the company is in a highly competitive market so may some issues concern.
Kore Digital Limited IPO Details Date
| Open Date: | Jun 02 2023 |
| Close Date: | Jun 07 2023 |
| Total Shares: | 1,000,000 |
| Issue Type: | Fixed Price Issue IPO |
| Issue Size: | 18 Cr. |
| Lot Size: | 800 Shares |
| Issue Price: | ₹ 180 Per Equity Share |
| Listing At: | NSE ,BSE |
| Listing Date: | Jun 15 2023 |
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Performance of the Company
KPI Values
P/E (x) 17.86
Market Cap (₹ Cr.) 63.36
ROE 0.67%
ROCE 0.49%
Debt/Equity 0.36
EPS (Rs) 10.08
RoNW (%) 50.18%
Last date of IPO date is 7 June and basic allotment of shares is 12 June 2023. And whom not allot refund start in 13 June 2023 and credit to demat account up to 14 June and listing date in NSE is 15 June 2023
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Current status of IPO
Kore is now 2.74 times subscribed in which the public issues subscribed is 1.05 times in retail investors and in 4.29 times in Nll and QIB status is up to 5th June. That show’s response is quite good..