Kore Mobile IPO Allotment, Refund and Listing Date

Kore Mobile IPO Opening DateAugust 26, 2022
Kore Mobile IPO Closing DateAugust 30, 2022
Basis of AllotmentSeptember 5, 2022
Initiation of RefundsSeptember 6, 2022
Credit of Shares to DematSeptember 7, 2022
Kore Mobile IPO Listing DateSeptember 8, 2022

Kore Mobile IPO Details

Kore Mobile IPO Price BandRs.36 Per Equity Share
Face ValueRs.10 per share
IPO SizeApprox. Rs.10.80 Crores, 
Listing AtBSE, NSE
Offer for Sale3,000,000 Equity Shares
Retail Quota:50%
QIB Quota:
NII Quota:50%
IPO Lot SizeMinimum 3000 shares for 1 lot
Minimum Amount Rs.108,000 for 1 lot

Kore Mobile IPO GMP (Grey Market Premium)

DateGMPKostakSubject to
31 August

Kore Mobile IPO Subscription Status Live

Kore Mobile IPO subscribed 0.54 times. The public issue subscribed 0.91 times in the retail category, and 0.17 times in the NII category by Aug 26, 2022.

Investor CategorySubscription (times)
Qualified Institutions
Non-Institutional Buyers18.56
Retail Investors11.04
Employees
Others
Total14.80

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Kore Mobile IPO Subscription Details (times)

DateNIIRetailTotal
Day 1
Aug 26, 2022
0.170.910.54
Day 2
Aug 29, 2022
0.512.721.61
Day 3
Aug 30, 2022
18.5611.0414.80

Kore Mobile Company Financial Report

YearRevenue (₹ in Crores)Expense (₹ in Crores)PAT (₹ in Crores)
2020Rs.95.23Rs.95.18Rs.0.03
2021Rs.122.25Rs.121.82Rs.0.29
2022Rs.165.56Rs.164.48Rs.0.87

Objects of the Issue

  1. To Meet Working Capital Requirements
  2. General Corporate Purpose
  3. To meet Public Issue Expenses

Kore Mobile IPO Prospectus

Kore Mobile IPO Registrar

Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: jjtl.ipo@linkintime.co.in
Website: https://linkintime.co.in/

Company Promoters

  • Mr. Kamlesh Varjivandas Thakkar
  • Mr. Kamlesh Hariram Lalwani
  • Mr. Mukeshkumar Navnitray Bhatt

About Kore Mobile

Kore Mobile was initially incorporated as Jay Jalaram Technologies Private Limited, as per provisions of Companies Act, 1956. Subsequently, our Company was converted to a public limited company by virtue of shareholder resolution passed in our company’s Extra-ordinary General Meeting held on 10.05.2022, and company’s name was changed to Jay Jalaram Technologies Limited.

In this dynamic and highly competitive business environment, they have developed a diverse business model wherein our offerings span from Mobile Phones, Mobile Accessories, and Mobile Related Products to Electric Vehicles. Their firm is involved in the multi-brand retail sales of smart phones and related accessories from manufacturers such as Apple, Samsung, Oppo, Realme, Nokia, Vivo, Xiaomi, Redmi, Techno, and One Plus. They are also engaged in multi-brand retail selling of Consumer Durable Electronics products such as Smart TVs, ACs, Refrigerators, Coolers, etc. 

They are operating our business with a trademark name of “KORE”. Currently, they are operating around 95 stores in different parts of the State of Gujarat to sell electric gadgets and other accessories. They mostly sell Smart Mobile Phones from all the leading brands, Mobile Phone accessories, Tablets, Data Cards, and other Consumer Durable Electronics products all under a single roof. Of these stores, some stores are retail outlets owned by Company, some are franchisee-owned and franchisee-operated franchisee-operated retail stores (“FOFO model”), and some are franchisee-owned and Company-operated franchisee-operated retail stores (“FOCO model”). 

Their other Business verticals include Exclusive Dealerships for electric bicycles, their spare parts & accessories, with a trademark called Revolt, in the Ahmedabad & Rajkot regions. Currently, they are selling the Electric Bikes through 3 Company-owned retail outlets located in Ashram Road, Ahmedabad, Nana Chiloda, Ahmedabad, and Rajkot. 

Company has seasoned Promoters, Directors, Management and Marketing team, Widespread distribution channel/retail chain, and a diverse product range. There are opportunities for expansion of our Business in New Geographical Markets. 

Company Address

Jay Jalaram Technologies Ltd
Office No.103, Shail Mall,
B/H. Girish Cold Drink, Shilp Char Rasta,
C. G. Road, Navrangpura, Ahmedabad -380009
Phone: 079 4899 5415
Email: cs@koremobiles.com
Website: https://www.koremobiles.com/

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