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PNN
Mumbai (Maharashtra) [India], January 7: Kore Digital Limited, (NSE - KDL), One of the leading providers of telecommunication infrastructure development and allied services, Kore Digital Limited, has announced the acquisition of 98% equity stakes in Franken Telecom Private Limited, Wolter Infratech Private Limited, and KDL Realinfra Private Limited from their existing shareholders. The acquisitions were approved during a recent board meeting. These acquisitions align with Kore Digital's strategic goals of combining resources, accessing advanced technologies, and fostering stronger relationships within the industry. Franken Telecom Private Limited Franken Telecom, incorporated on July 8, 2024, specializes in providing infrastructure facilities to various telecom companies. Kore Digital is acquiring 4,900 equity shares, representing 98% ownership, at a face value of Rs10 per share. This acquisition will enable Kore Digital to optimize resources, reduce costs, and improve operational efficiencies across its telecommunication infrastructure projects. Wolter Infratech Private Limited Wolter Infratech, established on July 9, 2024, is engaged in specialized engineering and civil works. Kore Digital is acquiring 4,900 equity shares, equating to 98% of the company's equity, at a face value of Rs10 per share. By integrating Wolter Infratech's skilled workforce and technical expertise, Kore Digital aims to enhance its engineering capabilities and deliver high-quality infrastructure solutions. KDL Realinfra Private Limited KDL Realinfra, incorporated on March 19, 2024, brings expertise in infrastructure activities to Kore Digital's portfolio. With the acquisition of 9,800 equity shares (98% of the total equity) at a face value of Rs10 per share, Kore Digital seeks to leverage KDL Realinfra's industry relationships to explore future collaborations and drive growth in the infrastructure domain. These acquisitions reflect Kore Digital Limited's strategic approach to scaling its business and delivering comprehensive telecommunication and infrastructure services. By integrating the strengths of Franken Telecom, Wolter Infratech, and KDL Realinfra, Kore Digital is poised to enhance its competitive edge. Commenting on the Acquisitions Ravindra Navinchandra Doshi, Managing Director of Kore Digital Limited said, "These acquisitions mark a significant step forward in our growth strategy. By bringing Franken Telecom, Wolter Infratech, and KDL Realinfra into the Kore Digital family, we aim to combine resources, access advanced technologies, and expand our expertise across key areas. These companies bring specialized skills and strong industry relationships that will help us improve efficiency, reduce costs, and strengthen our service offerings. We are confident that this move will not only enhance our operational capabilities but also position us for sustainable growth and value creation for all our stakeholders." (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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