SME IPO: Kore Digital issue opens for subscription on NSE Emerge ; closes on 7 June

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The initial share sale of Kore Digital opened for subscription earlier on Friday and will close on June 7. The company’s shares will get listed on the NSE Emerge platform.

 key  7 things to know about the issue:

  1. Company Overview
    Kore Digital was set up with an objective to provide high-end communication solutions to corporate and telecom network operators. The company is a growing passive telecom infrastructure provider in Maharashtra, engaged primarily in the business of installing and commissioning poles, towers and optical fibre cable Systems in the state.

  2. Industry Overview
    The global telecommunications infrastructure market is valued at $1841.57 billion in 2022 and is projected to reach a value of $21804 billion in 2030, expanding at a CAGR of 5.4% over the forecast period of 2022-2030 owing to rising 5G network demand for better speed and connectivity. The rising market demand for the next generation 5G network is enabling companies to deploy an advanced telecom network infrastructure.
  3. Issue Size

               The IPO is completely a fresh issue of up to 10 lakh equity shares of face value Rs 10 each.

         4) Price band; The shares are being offered at a price of Rs 180 and the company plans to raise             about Rs 18 crore from this offer.

             5) Important Dates
                  SME IPO , KORE DIGITAL opened for subscription earlier on Friday and will close on June 7. The share allotment after the subscription will take place on June 12 and the shares will  likely get listed on the NSE Emerge platform on June 15.

               6) Objects of the offer
The net proceeds from the issue will be utilised to meet the working capital requirements, investment in strategic acquisition and other general corporate expenses.      

       7) First Overseas Capital is acting as the book running lead manager to the issue, while Bigshare Services is the registrar.

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