Indong Tea Company IPO vs ITCONS E-Solutions IPO

Comparision between Indong Tea Company IPO and ITCONS E-Solutions IPO.

IPO Details

Indong Tea Company IPO is a SME Fixed Price Issue IPO proposed to list at BSE SME while ITCONS E-Solutions IPO is a SME Fixed Price Issue proposed to list at BSE SME.

	Indong Tea Company IPO	ITCONS E-Solutions IPO
Logo
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Fixed Price Issue	Fixed Price Issue
Listing At	BSE SME	BSE SME
Lead Managers	Finshore Management Services Limited	Finshore Management Services Limited
Registrar	Cameo Corporate Services Limited	Cameo Corporate Services Limited
Market Maker	Nikunj Stock Brokers Limited	Nikunj Stock Brokers Limited
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of Indong Tea Company IPO is up to ₹13.01 Cr whereas the issue size of the ITCONS E-Solutions IPO is up to ₹8.67 Cr. The final issue price of Indong Tea Company IPO is ₹26.00 per share and of ITCONS E-Solutions IPO is ₹51.00 per share.

	Indong Tea Company IPO	ITCONS E-Solutions IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)
Issue Price (Upper)
Issue Price (Final)	₹26.00 per share	₹51.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	4000 shares	2000 shares
Fresh Issue Size	50,04,000 shares	17,00,000 shares
Fresh Issue Size (Amount)	up to ₹13.01 Cr	up to ₹8.67 Cr
OFS Issue Size
OFS Issue Size (Amount)
Issue Size Total	50,04,000 shares	17,00,000 shares
Issue Size Total (Amount)	up to ₹13.01 Cr	up to ₹8.67 Cr

IPO Timetable

Indong Tea Company IPO opens on Feb 09, 2023, while ITCONS E-Solutions IPO opens on Feb 28, 2023. The closing date of Indong Tea Company IPO and ITCONS E-Solutions IPO is Feb 13, 2023, and Mar 02, 2023, respectively.

	Indong Tea Company IPO	ITCONS E-Solutions IPO
Anchor Bid Date
Issue Open	Feb 09, 2023	Feb 28, 2023
Issue Close	Feb 13, 2023	Mar 02, 2023
Basis Of Allotment (Tentative)	Feb 16, 2023	Mar 08, 2023
Initiation of Refunds (Tentative)	Feb 17, 2023	Mar 09, 2023
Credit of Share (Tentative)	Feb 20, 2023	Mar 10, 2023
Listing date (Tentative)	Feb 21, 2023	Mar 13, 2023
Anchor Lockin End date 1	Mar 18, 2023	Apr 07, 2023
Anchor Lockin End date 2	May 17, 2023	Jun 06, 2023

Financials

Indong Tea Company IPO P/E ratio is 9.52, as compared to ITCONS E-Solutions IPO P/E ratio of 12.09.

Indong Tea Company IPO

ITCONS E-Solutions IPO

Financial

Indong Tea Company Limited Financial Information (Restated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Reserves and Surplus	Total Borrowing
31-Mar-20	4,136.26	1,672.64	-121.29	-421.85	1,174.94	2,097.43
31-Mar-21	4,059.79	2,313.00	127.56	-294.30	1,302.49	1,841.74
31-Mar-22	4,324.96	1,992.97	131.62	863.68	1,971.48	960.09
30-Sep-22	4,689.74	1,324.22	204.61	1,068.29	2,176.09	1,047.42
Amount in ₹ Lakhs

ITCONS E-Solutions Limited Financial Information (Restated Standalone)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Reserves and Surplus	Total Borrowing
31-Mar-20	351.17	834.95	10.57	96.78	95.64	145.06
31-Mar-21	341.21	842.48	7.53	104.31	103.17	136.33
31-Mar-22	470.71	1,820.36	119.11	223.42	222.28	106.23
30-Sep-22	792.37	1,605.05	106.12	462.23	129.36	176.70
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

96.09%

89.67%

Promoter Shareholding (Post-Issue)

64.03%

59.36%

P/E Ratio

9.52

12.09

Market Cap

₹39.00 Cr.

₹25.65 Cr.

ROE

ROCE

Debt/Equity

EPS

RoNW

Shares Offered

In the Indong Tea Company IPO retail investors (RII) are offered 23,76,000 shares while in ITCONS E-Solutions IPO retail investors are offered 23,76,000 shares. Qualified institutional buyers (QIB) are offered in Indong Tea Company IPO and in ITCONS E-Solutions IPO.

	Indong Tea Company IPO	ITCONS E-Solutions IPO
Anchor Investor Reserveration
Market Maker Reserveration	2,52,000 shares	86,000 shares
QIB
NII	23,76,000 shares	8,06,000 shares
RII	23,76,000 shares	8,08,000 shares
Employee
Others
Total	47,52,000 shares	16,14,000 shares

Bids Received (Subscription)

Indong Tea Company IPO subscribed 4.97x in total, whereas ITCONS E-Solutions IPO subscribed 16.79x.

	Indong Tea Company IPO	ITCONS E-Solutions IPO
QIB (times)
NII (times)	2.17x	16.12x
Big NII (times)
Small NII (times)
RII (times)	7.76x	17.45x
Employee (times)
Other (times)
Total (times)	4.97x	16.79x

Compare with others

Indong Tea Company IPO	ITCONS E-Solutions IPO
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ITCONS E-Solutions IPO	Srivasavi Adhesive Tapes IPO
Viaz Tyres IPO	SVJ Enterprises IPO
Patron Exim IPO	Sealmatic India IPO
Lead Reclaim and Rubber Products IPO	Macfos IPO
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Shera Energy IPO	Patron Exim IPO
Gayatri Rubbers and Chemicals IPO	Lead Reclaim and Rubber Products IPO
Earthstahl & Alloys IPO	Indong Tea Company IPO
Transvoy Logistics India IPO	Agarwal Float Glass India IPO

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