Indong Tea Co.Ltd IPO — GMP, Details & Subscription

IPO Details

Open Date

09 Feb 2023

Close Date

13 Feb 2023

Allotment

16 Feb 2023

Listing Date

21 Feb 2023

Exchange

BSE SME

Price Band

₹26

Listing Price

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Allotment Status

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Price Band

₹26

Per share

Face Value

₹10 per share

Lot Size

4,000 Shares

per lot

Issue Size

52,56,000 shares (aggregating up to ₹13.67 Cr)

Total offering

Issue Type

Fixed Price IPO

Min Investment

₹104,000

1 lot

Pre-IPO Holding

99,97,048 shares

Promoters

Post-IPO Holding

1,50,01,048 shares

Promoters

P/E (Pre)

9.52x

UPI Deadline

2023-02-13

Mandate

Anchor AllotmentWed, 08 Feb 2023

Basis of AllotmentThu, 16 Feb 2023

Refund InitiationFri, 17 Feb 2023

Demat CreditMon, 20 Feb 2023

Listing DayTue, 21 Feb 2023

UPI Mandate Deadline2023-02-13

Sale TypeFresh Capital

Net Offer to Public47,52,000 shares (aggregating up to ₹12.36 Cr)

Market Maker Quota5,04,000 shares (aggregating up to ₹1.31 Cr)

QIB Quota50% of Net Issue

HNI / NII Quota15% of Net Issue

Retail Quota35% of Net Issue

Check AllotmentClick here →

Subscription Rate Final

Indong Tea Co.Ltd IPO subscribed 1.00 times overall. Retail: 1.00x. QIB: 1.00x. NII: 1.00x. By 13 Feb 2023.

QIB

1.00x

Over

NII/HNI

1.00x

Over

Retail

1.00x

Over

Total

1.00x

Over

Category	Subscription	Shares Offered	% of Total	Amount (₹Cr)
Market Maker	Awaited	504,000	—	₹1.31
QIB	Over 1.00x	—	—	—
NII / HNI	Over 1.00x	—	—	—
Retail	Over 1.00x	—	—	—
Total	1.00x	5,256,000	100%	₹13.67

IPO Shares Offered

Indong Tea Co.Ltd IPO total issue size: ₹13.67 Cr.

Category	Shares Offered	Amount (₹Cr)	Size (%)
Market Maker	504,000	₹1.31	9.59%
Total	5,256,000	₹13.67	100.00%

* Based on upper price band ₹26 per share

Lot Size & Investment

Lot Size

4,000

Shares per Lot

Issue Price

₹26.00

Upper Band

Min Investment

₹104,000

1 Lot

Application	Lots	Shares	Amount
Retail (Min — 2 Lots)	2	8,000	₹208,000
Retail (Max — 13 Lots)	13	52,000	₹1,352,000
S-HNI (Min — 14 Lots)	14	56,000	₹1,456,000
B-HNI (Min — 68 Lots)	68	272,000	₹7,072,000

* Issue Price ₹26 × Lot Size 4,000 shares

IPO Schedule

Anchor

08 Feb 2023

✓ Done

IPO Open

09 Feb 2023

✓ Done

IPO Close

13 Feb 2023

✓ Done

Allotment

16 Feb 2023

✓ Done

Refunds

17 Feb 2023

✓ Done

Demat Credit

20 Feb 2023

✓ Done

Listing Day

21 Feb 2023

✓ Done

₹26.00

INR · BSE

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Issue ₹26.00 Live Price

About Indong Tea Co.Ltd

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) TeaTea and Tea PlantationTea Manufacturing ProcessPluckingWitheringRollingFermentationDryingGradingPacking / DispatchingFrom 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.

Objects of the Issue

Funding Capital Expenditure towards Extension, Uprooting, Infilling of Tea Plantation and Irrigation at Indong Tea Estate, Jalpaiguri, West Bengal

Funding Capital Expenditure towards installation of additional plant and machinery for Tea Processing Unit at Indong Tea Estate, Jalpaiguri, West Bengal

Working capital requirements

General corporate purposes

Issue related expenses

Indong Tea Co.Ltd Financials (Amount in ₹ Lakhs)

Revenue from Operations

₹2,313.0

31-Mar-21

₹1,993.0

31-Mar-22

₹1,324.2

30-Sep-22

Profit After Tax (PAT)

₹127.6

31-Mar-21

₹131.6

31-Mar-22

₹204.6

30-Sep-22

Particulars	30-Sep-22	31-Mar-22	31-Mar-21
Revenue from Operations	1324.22	1992.97	2313.00
EBITDA	N/A	N/A	N/A
Profit After Tax (PAT)	204.61	131.62	127.56
Net Worth	1068.29	863.68	-294.30
Total Assets	4689.74	4324.96	4059.79
Reserves & Surplus	2176.09	1971.48	1302.49
Borrowings	1047.42	960.09	1841.74
EBITDA Margin (%)	N/A	—	—
PAT Margin (%)	N/A	—	—

Issue Structure & Shareholding

Total Shares Offered52,56,000 (100.00%)

Net Offer to Public47,52,000 shares (aggregating up to ₹12.36 Cr)

Reserved for Market Maker5,04,000 shares (aggregating up to ₹1.31 Cr)

Pre-Issue Promoter Holding99,97,048 shares

Post-Issue Promoter Holding1,50,01,048 shares

P/BV RatioN/A

RoEN/A

RoCEN/A

Debt / EquityN/A

Script CodeN/A

Registrar & Lead Managers

IPO Registrar

Cameo Corporate Services Ltd.

+91-44-28460390

investor@cameoindia.com

https://ipo.cameoindia.com/

Check Allotment

Book Running Lead Managers

Finshore Management Services Ltd

GMP Disclaimer: Grey Market Premium data is unofficial and unregulated. It does not guarantee actual listing price.

IPO Subscription FAQs

How much Indong Tea Co.Ltd IPO subscribed? ▲

Indong Tea Co.Ltd IPO is subscribed 1.00 times by Feb 13, 2023. Retail: 1.00x. QIB: 1.00x. NII: 1.00x.

Investor Category	Subscription
Qualified Institutional (QIB)	1.00x
Non Institutional (NII/HNI)	1.00x
Retail Individual	1.00x
Total Subscription	1.00x

What is Indong Tea Co.Ltd IPO retail subscription status? ▼

The Indong Tea Co.Ltd IPO retail category is subscribed 1.00 times as of 13 Feb 2023. The retail portion is oversubscribed.

How to subscribe Indong Tea Co.Ltd IPO? ▼

Subscribe via your broker app using ASBA or UPI. Opens 09 Feb 2023 and closes 13 Feb 2023. Min investment: ₹104,000 (1 lot = 4,000 shares). UPI mandate: 2023-02-13.

How many times Indong Tea Co.Ltd IPO subscribed? ▼

The Indong Tea Co.Ltd IPO subscribed 1.00x overall. QIB: 1.00x, NII: 1.00x, Retail: 1.00x. Applications: from NSE/BSE.

How to check Indong Tea Co.Ltd IPO allotment? ▼

Check allotment on the registrar website (Cameo Corporate Services Ltd.) at https://ipo.cameoindia.com/. Enter your PAN, application number or DP/Client ID. Allotment date: 16 Feb 2023. Refunds: on 17 Feb 2023.

When Indong Tea Co.Ltd IPO will be listed? ▼

The Indong Tea Co.Ltd IPO listing date is 21 Feb 2023, Tuesday. Listed on: BSE SME. Issue price: ₹26. Estimated listing: ₹26. GMP: NIL.

When Indong Tea Co.Ltd IPO close? ▼

The Indong Tea Co.Ltd IPO closes on 13 Feb 2023, Monday. UPI mandate: 2023-02-13. Allotment: 16 Feb 2023. Listing: 21 Feb 2023.

Quick Actions

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Live Price LIVE

Last Price₹26.00

Change—

Issue Price₹26.00

vs Issue—

Quick Summary

StatusListed

Issue Price₹26

Face Value₹10

Lot Size4,000 Sh

Min. Amount₹104,000

GMPNIL

Est. Listing₹26

Subscribed1.00x

Open Date09 Feb 2023

Close Date13 Feb 2023

Allotment16 Feb 2023

Listing Date21 Feb 2023

ExchangeBSE SME

UPI Deadline2023-02-13