Indong Tea Co.Ltd IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| NII (HNI) | — | 2,376,000 (45%) | — | ₹618 Cr |
| Retail | — | 2,376,000 (45%) | — | ₹618 Cr |
| Market Maker | — | 504,000 (10%) | — | ₹13 Cr |
| Σ Total | — | 5,256,000 (100%) | — | ₹13,666 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 4,000 | ₹104,000 |
| Retail (Max) | 13 | 52,000 | ₹1,352,000 |
| S-HNI (Min) | 14 | 56,000 | ₹1,456,000 |
| B-HNI (Min) | 67 | 268,000 | ₹6,968,000 |
Financial Statements Amount in ₹ Lakhs
| Metric | 30-Sep-22 | 31-Mar-22 | 31-Mar-21 |
|---|---|---|---|
| Revenue | 1,324 | 1,993 | 2,313 |
| Profit After Tax | 205 | 132 | 128 |
| Net Worth | 1,068 | 864 | -294 |
| Total Assets | 4,690 | 4,325 | 4,060 |
| Reserves & Surplus | 2,176 | 1,971 | 1,302 |
| Total Borrowing | 1,047 | 960 | 1,842 |
Valuation & Key Ratios
Grey Market Premium (GMP)
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- Funding Capital Expenditure towards Extension, Uprooting, Infilling of Tea Plantation and Irrigation at Indong Tea Estate, Jalpaiguri, West Bengal – 6.32
- Funding Capital Expenditure towards installation of additional plant and machinery for Tea Processing Unit at Indong Tea Estate, Jalpaiguri, West Bengal – 2.94
- Working capital requirements – 2.25
- General corporate purposes – 1.00
- Issue related expenses – 0.50
Company Overview
ncorporated 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:
- CTC (Crush/Cut, Tear, Curl) Tea
- Tea and Tea Plantation
- Tea Manufacturing Process
- Plucking
- Withering
- Rolling
- Fermentation
- Drying
- Grading
- Packing / Dispatching
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.