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Incorporated in 1990, Indong Tea Company Limited is primarily in the manufacturing of Tea. The company runs a a Tea Garden under Government lease and is engaged in Tea Plantation & Manufacturing of CTC Tea.
Their Indong Tea Estate is spread over an area of 740.38 Hectares and consists of Tea Plantation, Tea Factory, Withering Trough House, Officer's Bunglows, Staff Quarters, Labour Quarters, Pump House, General Stores, Dairy Farm, etc.
The original promoters of the company were Devvrat Gupta, Shyam Saran Gupta, and Nagarmal Kanoria. The ownership was transferred to Sri Hariram Garg in 2014, a promoter of Asian Group under a scheme of takeover.
The products of Indong Tea Company are primarily categorized as:
From the manufacturing of tea and other operations, the company clocked the following revenues for the years 2021, 2020, and 2019 - Rs. 2,313 lakhs, Rs. 1,672.64 lakhs, and Rs. 1,481.57 lakhs, respectively.
The Objects of the Issue are:
| IPO Date | Feb 9, 2023 to Feb 13, 2023 |
| Listing Date | Feb 21, 2023 |
| Face Value | ₹10 per share |
| Price | ₹26 per share |
| Lot Size | 4000 Shares |
| Total Issue Size | 5,004,000 shares (aggregating up to ₹13.01 Cr) |
| Fresh Issue | 5,004,000 shares (aggregating up to ₹13.01 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| NII (HNI) Shares Offered | 2,376,000 (50% of the Net Issue) |
| Retail Shares Offered | 2,376,000 (50% of the Net Issue) |
| Market Maker portion | 252,000 shares (NIKUNJ STOCK BROKERS LIMITED) |
| Total Shares Offered | 4,752,000 |
| KPI | Values |
|---|---|
| P/E (x) | 9.52 |
| Market Cap (₹ Cr.) | 39 |
Indong Tea Company IPO opens on Feb 9, 2023, and closes on Feb 13, 2023.
| Event | Tentative Date |
|---|---|
| Opening Date | Feb 9, 2023 |
| Closing Date | Feb 13, 2023 |
| Basis of Allotment | Feb 16, 2023 |
| Initiation of Refunds | Feb 17, 2023 |
| Credit of Shares to Demat | Feb 20, 2023 |
| Listing Date | Feb 21, 2023 |
| UPI Mandate Confirmation Cut-Off Time | 5.00 PM on the issue closing day |
The Indong Tea Company IPO lot size is 4000 shares.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 4000 | ₹104,000 |
| Retail (Max) | 1 | 4000 | ₹104,000 |
| HNI (Min) | 2 | 8,000 | ₹208,000 |
| Lot Size Calculator | |||
Mr. Hariram Garg, Mr. Madanlal Garg, and M/s. Asian Tea & Exports Limited are the promoters of the company.
| Pre Issue Share Holding | 96.09% |
| Post Issue Share Holding | 64.03% |
| 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 | ||||||
[Dilip Davda] ITCL is in tea plantations and is poised for bright prospects as tea prices are firming up globally. The issue is fully priced based on its H1-FY23 earnings while it is aggressively priced based on its FY22 data. The parent company is having a poor track record. Though it is poised for better prospects, the poor track record of the group company, and the fully priced offer from ITCL, there is no harm in skipping it. Read detail review...
The Indong Tea Company IPO is subscribed 4.97 times on Feb 13, 2023 6:58:00 PM. The public issue subscribed 7.76 times in the retail category, times in the QIB category, and 2.17 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 2.17 |
| Retail | 7.76 |
| Total | 4.97 |
| Listing Date | Feb 21, 2023 |
| BSE Script Code | 543769 |
| NSE Symbol | |
| ISIN | INE0KN201016 |
| IPO Price | ₹26 per share |
| Price Details |
|---|
| IPO Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹26.00 |
| ₹20.80 |
| ₹19.80 |
| ₹21.80 |
| ₹21.80 |
Indong Tea Company Limited
Sikkim Commerce House,
4/1, Middleton Street,
Kolkata – 700071
Phone: +91 33 4006 3601
Email: cs@indongteaco.com
Website: http://www.indongteaco.com/
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: investor@cameoindia.com
Website: https://ipo.cameoindia.com/
Are you an SME company looking for an IPO to raise funds and get listed in the stock market? We can help. Contact us today... SME IPO Enquiry Form
Indong Tea Company IPO is a SME IPO of 5,004,000 equity shares of the face value of ₹10 aggregating up to ₹13.01 Crores. The issue is priced at ₹26 per share. The minimum order quantity is 4000 Shares.
The IPO opens on Feb 9, 2023, and closes on Feb 13, 2023.
Cameo Corporate Services Limited is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Indong Tea Company IPO using UPI as a payment gateway. Zerodha customers can apply in Indong Tea Company IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Indong Tea Company IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Indong Tea Company IPO opens on Feb 9, 2023 and closes on Feb 13, 2023.
Indong Tea Company IPO lot size is 4000 Shares and the minimum order quantity is .
You can apply in Indong Tea Company 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 Indong Tea Company IPO will be done on Feb 16, 2023, and the allotted shares will be credited to your demat account by Feb 20, 2023. Check the Indong Tea Company IPO allotment status.
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