Indong Tea Company IPO vs Macfos IPO

Comparision between Indong Tea Company IPO and Macfos IPO.

IPO Details

Indong Tea Company IPO is a SME Book Built Issue IPO proposed to list at BSE SME while Macfos IPO is a SME Book Built Issue proposed to list at BSE SME.

	Indong Tea Company IPO	Macfos IPO
Logo
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Fixed Price Issue	Book Built Issue
Listing At	BSE SME	BSE SME
Lead Managers	Finshore Management Services Limited	Hem Securities Limited
Registrar	Cameo Corporate Services Limited	Bigshare Services Pvt Ltd
Market Maker	Nikunj Stock Brokers Limited	Hem Securities Ltd.
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor		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 Macfos IPO is up to ₹23.74 Cr. The final issue price of Indong Tea Company IPO is ₹26.00 per share and of Macfos IPO is ₹102.00 per share.

	Indong Tea Company IPO	Macfos IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)		₹96.00 per share
Issue Price (Upper)		₹102.00 per share
Issue Price (Final)	₹26.00 per share	₹102.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	4000 shares	1200 shares
Fresh Issue Size	50,04,000 shares
Fresh Issue Size (Amount)	up to ₹13.01 Cr
OFS Issue Size		23,28,000 shares
OFS Issue Size (Amount)		up to ₹23.74 Cr
Issue Size Total	50,04,000 shares	23,28,000 shares
Issue Size Total (Amount)	up to ₹13.01 Cr	up to ₹23.74 Cr

IPO Timetable

Indong Tea Company IPO opens on Feb 09, 2023, while Macfos IPO opens on Feb 17, 2023. The closing date of Indong Tea Company IPO and Macfos IPO is Feb 13, 2023, and Feb 21, 2023, respectively.

	Indong Tea Company IPO	Macfos IPO
Anchor Bid Date		Feb 16, 2023
Issue Open	Feb 09, 2023	Feb 17, 2023
Issue Close	Feb 13, 2023	Feb 21, 2023
Basis Of Allotment (Tentative)	Feb 16, 2023	Feb 24, 2023
Initiation of Refunds (Tentative)	Feb 17, 2023	Feb 27, 2023
Credit of Share (Tentative)	Feb 20, 2023	Feb 28, 2023
Listing date (Tentative)	Feb 21, 2023	Mar 01, 2023
Anchor Lockin End date 1	Mar 18, 2023	Mar 26, 2023
Anchor Lockin End date 2	May 17, 2023	May 25, 2023

Financials

Indong Tea Company IPO P/E ratio is 9.52, as compared to Macfos IPO P/E ratio of 15.22.

Indong Tea Company IPO

Macfos 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

Macfos Limited Financial Information (Restated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Reserves and Surplus	Total Borrowing
31-Mar-20	624.62	1,622.16	32.97	52.55	51.55	433.12
31-Mar-21	941.75	2,733.76	158.31	310.66	309.64	350.13
31-Mar-22	2,047.20	5,587.07	601.27	911.93	910.91	603.26
30-Sep-22	2,598.74	3,605.40	295.85	1,207.78	1,206.76	938.00
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

96.09%

100%

Promoter Shareholding (Post-Issue)

64.03%

73.65%

P/E Ratio

9.52

15.22

Market Cap

₹39.00 Cr.

₹90.12 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 Macfos IPO retail investors are offered 23,76,000 shares. Qualified institutional buyers (QIB) are offered in Indong Tea Company IPO and 11,04,000 shares in Macfos IPO.

	Indong Tea Company IPO	Macfos IPO
Anchor Investor Reserveration
Market Maker Reserveration	2,52,000 shares	1,16,400 shares
QIB		11,04,000 shares
NII	23,76,000 shares	3,32,400 shares
RII	23,76,000 shares	7,75,200 shares
Employee
Others
Total	47,52,000 shares	23,28,000 shares

Bids Received (Subscription)

Indong Tea Company IPO subscribed 4.97x in total, whereas Macfos IPO subscribed 193.87x.

	Indong Tea Company IPO	Macfos IPO
QIB (times)		21.60x
NII (times)	2.17x	659.99x
Big NII (times)
Small NII (times)
RII (times)	7.76x	268.45x
Employee (times)
Other (times)
Total (times)	4.97x	193.87x

Compare with others

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Gayatri Rubbers and Chemicals IPO	Patron Exim IPO
Earthstahl & Alloys IPO	Lead Reclaim and Rubber Products IPO
Transvoy Logistics India IPO	Indong Tea Company IPO

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