Indong Tea Company Limited (BSE SME)
February 9, 2023 – February 13, 2023
| Price | ₹26 - ₹26 |
| Premium | ₹1.5 |
|---|---|
| Lot size | 4000 |
| Allotment | Feb 16, 2023 |
| Listing | Feb 21, 2023 |
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/
| Investor Category | Subscription (times) |
|---|---|
| Qualified Institutions | [.] |
| Non-Institutional Buyers | 2.17 |
| Retail Investors | 7.76 |
| Employees | [.] |
| Others | [.] |
| Total | 4.97 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 4000 | 104000 | 0 |
| HNI | 2 | 8000 | 208000 | 0 |
| Issue Size | 5,004,000 shares of ₹10 (aggregating up to ₹13.01 Cr) |
| Fresh Issue | 5,004,000 shares of ₹10 (aggregating up to ₹13.01 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| NII (HNI) Shares Offered | 50% of the Net Issue |
| Retail Shares Offered | 50% of the Net Issue |
| Market Maker | NIKUNJ STOCK BROKERS LIMITED |
| Company Promoters | Mr. Hariram Garg, Mr. Madanlal Garg, and M/s. Asian Tea & Exports Limited are the promoters of the company. |
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:
- 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.
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Total Borrowing |
|---|---|---|---|---|---|
| 31-Mar-20 | 4136.26 | 1672.64 | -121.29 | -421.85 | 2097.43 |
| 31-Mar-21 | 4059.79 | 2313 | 127.56 | -294.3 | 1841.74 |
| 31-Mar-22 | 4324.96 | 1992.97 | 131.62 | 863.68 | 960.09 |
| Amount in ₹ Lakhs | |||||