The initial public offering (IPO) of telecommunication infrastructure provider Kore Digital Ltd opens for subscription on June 2. The company offers communication solutions to corporate and Telecom Network Operators and is in the business of installing and commissioning towers and Optical Fibre Cable (OFC) Systems in Maharashtra.
Kore Digital IPO is an SME IPO worth ₹18 crore and will close on June 7. The issue comprises a fresh issue of 10 lakh equity shares of ₹10 each at a fixed price of ₹180 per share.
The public issue offers 474,000 shares to retail investors, 526,000 shares to other investors, including High Net-worth Individuals (HNIs), corporates, Non Institutional Investors (NII) and Qualified Institutional Buyers (QIB).
Kore Digital has laid fiber of around 450 kms for telcos such as Bharti Airtel, Reliance Jio, Vodafone Idea and Tata Teleservices, as of 2023, as per the company’s prospectus.
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Here are top 10 things to know about Kore Digital IPO:
1. Bidding Dates: June 2 to June 7
2. Issue price: ₹180 per share
3. Issue size: ₹18 crore. The public issue consists of a fresh issuance of 10 lakh equity shares worth up to ₹18 crore.
4. Lot Size: The lot size of Kore Digital IPO is 800 shares. The minimum investment amount for retail investors is ₹1,44,000.
5. Basis of allotment: The basis of share allotment will be fixed on June 12, while the initiation of refunds will take place on June 13. The shares will be credited to investors’ demat accounts on June 14.
6. IPO Listing Date: Kore Digital shares will list on June 15 at NSE SME Emerge.
7. Objective of the issue: The company proposes to utilise the net proceeds from the fresh issue to meet the working capital requirements, investment in strategic acquisition and general corporate expenses.
8. Kore Digital IPO Registrar: Bigshare Services Pvt. Ltd. is the registrar of the issue.
9. Lead managers: First Overseas Capital Ltd. is the sole lead manager of Kore Digital IPO.
10. Kore Digital IPO GMP today: Kore Digital shares are not trading at any premium or discount in the grey market. Hence, the Kore Digital IPO GMP today is ₹0. The expected listing price for Kore Digital, considering the issue price of ₹180, is ₹180 per share.
Kore Digital IPO Subscription:
Kore Digital IPO is open for public subscription. The issue has been subscribed 0.03 times so far till 11:00 am. The public issue is subscribed 0.05 times in the retail category.
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Updated: 02 Jun 2023, 11:24 AM IST