Established in 1990, Indong Tea Company Limited is primarily engaged in the manufacturing of Tea. The company operates a Tea Garden under Government lease and focuses on Tea Plantation and Manufacturing of CTC Tea.
Spanning an area of 740.38 Hectares, their Indong Tea Estate comprises Tea Plantation, Tea Factory, Withering Trough House, Officer’s Bunglows, Staff Quarters, Labour Quarters, Pump House, General Stores, and Dairy Farm.
Originally promoted by Devvrat Gupta, Shyam Saran Gupta, and Nagarmal Kanoria, the ownership was transferred to Sri Hariram Garg in 2014 under a scheme of takeover, who is a promoter of Asian Group.
Indong Tea Company’s product portfolio includes CTC (Crush/Cut, Tear, Curl) Tea and various Tea Plantation-related offerings. The company follows a meticulous Tea Manufacturing Process involving stages like Plucking, Withering, Rolling, Fermentation, Drying, Grading, and Packing/Dispatching.
In terms of revenue, the company achieved the following figures for the years 2021, 2020, and 2019 – Rs. 2,313 lakhs, Rs. 1,672.64 lakhs, and Rs. 1,481.57 lakhs, respectively.
Stock Quote #
- Open: ₹24.84
- High – Low: ₹25.49 – ₹24.80
- Previous Close: ₹24.89
- Total Traded Value: 16,000
- 52 Weeks High: ₹31.10 (May 30, 2023)
- 52 Weeks Low: ₹11.88 (Mar 29, 2023)
- Updated On: Jul 28, 2023 4:00 PM
IPO Details #
Indong Tea Company IPO is a Fixed Price Issue. The IPO total issue size is Rs 13.01 Cr. The Indong Tea Company IPO price is ₹26 per share. The IPO will list on BSE SME.
| 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 |
| Market Maker portion | 252,000 shares Nikunj Stock Brokers |
Indong Tea Company IPO Reservation #
Indong Tea Company IPO a total of 5,004,000 shares are offered. RII: 2,376,000 (47.48%), NII: 2,376,000 (47.48%).
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 252,000 (5.04%) |
| Other Shares Offered | 2,376,000 (47.48%) |
| Retail Shares Offered | 2,376,000 (47.48%) |
| Total Shares Offered | 5,004,000 (100%) |
Indong Tea Company IPO Timetable (Tentative) #
Indong Tea Company IPO opens on Feb 9, 2023, and closes on Feb 13, 2023.
| IPO Open Date | Thursday, 9 February 2023 |
| IPO Close Date | Monday, 13 February 2023 |
| Basis of Allotment | Thursday, 16 February 2023 |
| Initiation of Refunds | Friday, 17 February 2023 |
| Credit of Shares to Demat | Monday, 20 February 2023 |
| Listing Date | Tuesday, 21 February 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Feb 13, 2023 |
Indong Tea Company IPO Lot Size #
The minimum lot size of this Indong Tea Company IPO is 4000 shares required is ₹104,000.
| 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 | |||
Indong Tea Company IPO Promoter Holding #
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% |
Company Financials #
| 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 | ||||||
Key Performance Indicator #
Indong Tea Company IPO Market Cap is Rs 39 Cr and P/E (x) is 9.52.
| KPI | Values |
|---|---|
| P/E (x) | 9.52 |
| Market Cap (₹ Cr.) | 39 |
Objects of the Issue #
The Objects of the Issue are:
- Funding Capital Expenditure towards Extension, Uprooting, and Infilling of Tea Plantation at Indong Tea Estate, Jalpaiguri, West Bengal
- Funding Capital Expenditure towards the installation of additional plant and machinery for Tea Processing Unit at Indong Tea Estate, Jalpaiguri, West Bengal
- To meet the working capital requirements
- To meet the Issue Expenses
- General Corporate Purposes
Indong Tea Company IPO Subscription Status (Bidding Detail) #
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 |
Indong Tea Company IPO Prospectus #
Indong Tea Company IPO Listing Details #
| Listing Date | Feb 21, 2023 |
| BSE Script Code | 543769 |
| NSE Symbol | |
| ISIN | INE0KN201016 |
| Final Issue Price | ₹26 per share |
Listing Day Trading Information #
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹26.00 |
| ₹20.80 |
| ₹19.80 |
| ₹21.80 |
| ₹21.80 |
Company Contact Information #
Sikkim Commerce House,
4/1, Middleton Street,
Kolkata – 700071
Phone: +91 33 4006 3601
Email: cs@indongteaco.com
Website: http://www.indongteaco.com/
Indong Tea Company IPO Registrar #
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: investor@cameoindia.com
Website: https://ipo.cameoindia.com/
Indong Tea Company IPO Lead Manager(s) #
Frequently Asked Questions #
What are the key details of the Indong Tea Company IPO? #
- IPO Open: February 9, 2023
- IPO Close: February 13, 2023
- IPO Price: ₹26 per share
- Lot Size: 4000 shares
- Total Issue Size: ₹13.01 Crores
- Listing Date: February 21, 2023
- Listing Platform: BSE SME
How can I check the Indong Tea Company IPO subscription status? #
To check the live subscription status of the Indong Tea Company IPO, you can visit the website mentioned in the provided content or click on the link provided.
When will the basis of allotment for the Indong Tea Company IPO be finalized? #
The basis of allotment for the Indong Tea Company IPO is expected to be finalized on February 16, 2023.
How can I check the allotment status of the Indong Tea Company IPO? #
The allotment status for the Indong Tea Company IPO will be available online on February 16, 2023. To check the status, visit the Indong Tea Company IPO allotment status page and enter either your PAN number, Application Number, or DP Client ID of the demat account.
What is the expected listing price of Indong Tea Company IPO shares? #
The expected listing price of Indong Tea Company IPO shares is difficult to predict and depends on factors such as demand, market environment, and economic conditions.
How can I apply for the Indong Tea Company IPO? #
If you have a demat account, you can apply online for the Indong Tea Company IPO shares through banks (using ASBA) or through a broker (using UPI). Zerodha, a popular stockbroker in India, also offers an online IPO application.
What are the products offered by Indong Tea Company? #
Indong Tea Company is primarily engaged in the manufacturing of Tea. Their products are primarily categorized as CTC (Crush/Cut, Tear, Curl) Tea, Tea, and Tea Plantation. The tea manufacturing process involves steps like plucking, withering, rolling, fermentation, drying, grading, and packing/dispatching.
Who are the promoters of Indong Tea Company? #
The promoters of Indong Tea Company are Mr. Hariram Garg, Mr. Madanlal Garg, and M/s. Asian Tea & Exports Limited.
Please note that the above FAQs are based on the information provided, and for the most accurate and up-to-date information, it’s best to refer directly to the official prospectus and relevant IPO documents.
