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Indifra IPO is a fixed price issue of Rs 14.04 crores. The issue is entirely a fresh issue of 21.6 lakh shares.
Indifra IPO bidding started from December 21, 2023 and ended on December 26, 2023. The allotment for Indifra IPO was finalized on Wednesday, December 27, 2023. The shares got listed on NSE SME on December 29, 2023.
Indifra IPO price is ₹65 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹130,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹260,000.
Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Indifra IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for Indifra IPO is Spread X Securities.
Refer to Indifra IPO RHP for detailed information.
| IPO Date | December 21, 2023 to December 26, 2023 |
| Listing Date | December 29, 2023 |
| Face Value | ₹10 per share |
| Price | ₹65 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 2,160,000 shares (aggregating up to ₹14.04 Cr) |
| Fresh Issue | 2,160,000 shares (aggregating up to ₹14.04 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 5,130,000 |
| Share holding post issue | 7,290,000 |
| Market Maker portion | 108,000 shares Spread X Securities |
Indifra IPO offers 2,160,000 shares. 1,026,000 (47.50%) to NII, 1,026,000 (47.50%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 108,000 (5.00%) |
| Other Shares Offered | 1,026,000 (47.50%) |
| Retail Shares Offered | 1,026,000 (47.50%) |
| Total Shares Offered | 2,160,000 (100%) |
Indifra IPO opens on December 21, 2023, and closes on December 26, 2023.
| IPO Open Date | Thursday, December 21, 2023 |
| IPO Close Date | Tuesday, December 26, 2023 |
| Basis of Allotment | Wednesday, December 27, 2023 |
| Initiation of Refunds | Thursday, December 28, 2023 |
| Credit of Shares to Demat | Thursday, December 28, 2023 |
| Listing Date | Friday, December 29, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 26, 2023 |
Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹130,000 |
| Retail (Max) | 1 | 2000 | ₹130,000 |
| HNI (Min) | 2 | 4,000 | ₹260,000 |
| Lot Size Calculator | |||
Mr. Abhishek Sandeepkumar Agrawal and Sandeepkumar Vishwanath Agrawal HUF are the promoters of the company.
| Share Holding Pre Issue | 96% |
| Share Holding Post Issue | 67.55% |
Incorporated in 2009, Indifra Limited provides infrastructure management contracting, gas pipeline laying and electrical equipment distribution services. The company was previously known as Starleads Consultants Private Limited.
The company has two business verticals:
The company provides gas supply companies with the management of their gas supply pipelines. As of December 2023, the company is providing gas pipeline management services to Charotar Gas Sahakari Mandali Limited (CGSML). The company has also worked for Adani Gas Limited.
The company also provides voltage stabilizers, induction cooktops, inverters, batteries, ceiling fans, domestic switch gears and DBs, air coolers, water heaters, modular switches, solar water heaters, air source heat pump water heaters, energy-saving fans and space heaters.
As of June 30, 2023, Indifra Limited have a total of 11 Employees.
Indifra Limited's revenue decreased by -8.3% and profit after tax (PAT) rose by 148.07% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 630.24 | 312.46 | 420.10 | 229.63 |
| Revenue | 64.28 | 1,001.69 | 1,092.41 | 306.54 |
| Profit After Tax | 3.54 | 99.08 | 39.94 | 10.51 |
| Net Worth | 533.25 | 169.70 | 70.62 | 30.68 |
| Reserves and Surplus | 20.25 | 168.70 | 69.62 | 29.68 |
| Total Borrowing | 38.26 | 50.61 | 45.05 | |
| Amount in ₹ Lakhs | ||||
The market capitalization of Indifra IPO is Rs 47.39 Cr.
| KPI | Values |
|---|---|
| ROE | 82.45% |
| ROCE | 86.21% |
| RoNW | 82.45% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.79 | |
| P/E (x) | 11.23 | 342 |
The Issue Proceeds from the Fresh Issue will be utilized towards the following objects:
[Dilip Davda] The company is from Airan group and is engaged in providing pipeline related infra services to gas companies and supplying electrical appliances. It posted minuscule financial performance so far and based on its FY24 annualized earning, the issue appears exorbitantly priced. It operates in a highly competitive and fragmented segment. There is no harm in skipping this pricey bet, being High Risk/No Return bet. Read detail review...
The Indifra IPO is subscribed 7.21 times on December 26, 2023 6:48:00 PM. The public issue subscribed 12.07 times in the retail category, times in the QIB category, and 2.34 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 2.34 |
| Retail | 12.07 |
| Total | 7.21 |
Total Application : 6,191 (12.07 times)
| Listing Date | December 29, 2023 |
| BSE Script Code | |
| NSE Symbol | INDIFRA |
| ISIN | INE0PS301014 |
| Final Issue Price | ₹65 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹65.00 |
| ₹72.00 |
| ₹68.40 |
| ₹73.00 |
| ₹68.40 |
Indifra Limited
9, Krishna Villa,
Nr. Aamrakunj Society, Karamsad, V.V. Nagar Road,
Karamsad, Anand- 388325
Phone: 02692-360191
Email: shares@indifra.in
Website: https://www.indifra.com/#
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: indifra.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
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Indifra IPO is a SME IPO of 2,160,000 equity shares of the face value of ₹10 aggregating up to ₹14.04 Crores. The issue is priced at ₹65 per share. The minimum order quantity is 2000 Shares.
The IPO opens on December 21, 2023, and closes on December 26, 2023.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Indifra IPO using UPI as a payment gateway. Zerodha customers can apply in Indifra IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Indifra IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Indifra IPO opens on December 21, 2023 and closes on December 26, 2023.
Indifra IPO lot size is 2000 Shares, and the minimum amount required is ₹130,000.
You can apply in Indifra IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Indifra IPO will be done on Wednesday, December 27, 2023, and the allotted shares will be credited to your demat account by Thursday, December 28, 2023. Check the Indifra IPO allotment status.
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