In its Initial Public Offering (IPO), Kore Digital Limited will release equity shares through a fixed price issue. The Kore Digital Limited IPO is scheduled for June 2nd – June 7th, 2023. In this IPO, the company plans to sell 1,000,000 shares of stock at a price of 180 rupees aggregating up to ₹18 Cr, with each share having a face value of Rs 10. Let’s find out more about this IPO coming up in June 2023.
About Kore Digital Limited
Kore Digital Limited is a telecommunications infrastructure provider that has been in business since 2009. The company was founded to provide sophisticated communication services to enterprises and telecommunications providers. For the most part, Kore Digital serves the Maharashtra region. They provide a variety of services in Maharashtra, including the installation and commissioning of poles, towers, and optical fiber cable (OFC) networks.
In 2009, the Department of Telecommunications (DoT) issued the company an Infrastructure Provider (IP-I) License. Dark Fibers, right of way, duct space, and tower can be built and maintained under the terms of the license, with the intention of leasing or renting them out to the licensees of Telecom Network Operators, BroadBand Service Operators, and ISPs.
For their Telecom Network Operators including Vodafone Idea Ltd, Bharti Airtel Limited, Reliance Jio, and Tata Teleservices, Kore Digital Limited has deployed fiber of roughly 450 Kms as of 2023. Fiber installed as part of Vendor Projects and their own infrastructure may be found in and around the metropolitan areas of Mumbai, Thane, Bhiwandi, Kalyan, Panvel, and Pune.
Kore Digital Limited IPO Issue Details
| Issue Type | Fixed Price IPO Issue |
| Issue Opens | 2nd June 2023 |
| Issue Closes | 7th June 2023 |
| Face Value | Rs 10 Per Share |
| Issue Price | Rs 180 Per Share |
| Issue Size | 1,000,000 Shares (Rs 18.00 crores) |
| Minimum Order Quantity | 800 Shares |
| Listing | NSE, SME |
Purpose of the Issue
The company plans to use the Net Proceeds to finance the following initiatives:
- General corporate purposes;
- Investment in Strategic Acquisition / Joint Venture.
- Meeting the working capital needs of the Company.
Kore Digital Limited — Company Contact Details
- Registered & Corporate Office: B 1107-1108, Shelton Sapphire Sector 15, CBD Belapur, Navi Mumbai Thane 400614
- Telephone: +91 6354458154
- Website: http://www.koredigital.com/
Kore Digital Limited IPO – Lead Managers of the Issue
First Overseas Capital Limited
- Office Address: 1-2, Bhupen Chambers Ground Flr, Dalal Street, Mumbai – 400001
- Telephone: +91 22 4050 9900
- Email: rushabh@focl.in
Kore Digital Limited IPO – Registrar of the Issue
Bigshare Services Pvt Ltd
- Telephone: +91-22-6263 8200
- Email: ipo@bigshareonline.com
- Website: https://www.bigshareonline.com/
Kore Digital Limited IPO Issue Prospectus
Click here to read the Final Prospectus of this IPO Issue.
Disclaimer: Investingly just provides basic information as update about the issues. Investingly never gives advices or recommendations to anyone. Investments into securities are subject to market risk. Please read the offer and issue documents carefully before investing. It is also advised to consult your financial advisor of necessary suggestions.
