NEWS

Indong Tea Company Limited IPO : Highlights

Indong Tea Company Limited IPO is set to launch on 9 Feb, 2023. The company initiated its business operations in 1990. Its primary business is the manufacturing of Tea. It has a government lease on the tea gardens that it works on. Its Tea Estate is spread across 740.38 Hectares. This includes Tea factory, Tea plantation, Officer’s Bungalow, Labour and staff quarters, Pump House, Dairy farm, general stores, etc.

The product portfolio of the company is separated by :-

Tea and Tea plantation, CTC, plucking, tea manufacturing process, Withering, Drying, Fermentation, Rolling, Grading, packing and dispatching.

Indong Tea Company Limited IPO DETAILS

Indong Tea Company Limited IPO is set to launch on 9 Feb., 2023. The subscription timeline extends till 13 Feb, 2023. The size for the IPO is 13.01 Crore Rs. Shares issued through fresh issues are worth 13.01 Crore Rs. No Shares are issued through Offer For Sale mode. The lot size is 4000 shares and the price is 26 Rs per share. The company is going to get listed at BSE SME. The face value per share is Rs.10 and this is a Fixed Price issue. The registrar for the company is Cameo Corporate Services Limited.

Tabular Description of Indong Tea Company Limited IPO

IPO OPENING DATE	9 Feb., 2023
CLOSING DATE FOR IPO	13 Feb, 2023
ISSUE TYPE	Fixed Price Issue
Face Value per share	10 Rs. per share
IPO price band	26 Rs. per share
LOT SIZE	4000 shares
MINIMUM ORDER QUANTITY	4000 shares
ISSUE SIZE	13.01 Crore Rs.
OFFER FOR SALE	No shares are issued through Offer for Sale mode.
FRESH ISSUE	13.01 Crore Rs.
LISTING AT	BSE SME
LISTING DATE	21 Feb, 2023

Indong Tea Company Limited IPO : IMPORTANT DATES

IPO OPENING DATE	9 Feb., 2023
CLOSING DATE FOR IPO	13 Feb, 2023
IPO ALLOTMENT DATE	16 Feb, 2023
REFUNDS	17 Feb, 2023
DEMAT A/C CREDITED ON	20 Feb, 2023
IPO LISTING DATE	21 Feb, 2023

Indong Tea Company Limited IPO begins for subscription from 9 Feb., 2023. The IPO subscription would continue till 13 Feb, 2023. The allotment status for the shareholders who applied would come on 16 Feb, 2023. The refunds for the ones who did not get allotment would be initiated on 17 Feb, 2023. The DEMAT accounts of shareholders would be credited on 20 Feb, 2023. The listing of the company would be accompanied on 21 Feb, 2023.

Indong Tea Company Limited IPO : Lead Managers

The lead managers are :

Finshore Management Services Limited

The minimum lot size for the company is decided at 4000 shares. This holding accounts to 104000 Rs.. The maximum lot size is decided at 8000 shares (HNI). This amounts to 208000 Rs.. Hence the company’s final holdings would be set as :

	Shares	Amount
Minimum	4000 shares	104000 Rs.
Maximum	8000 shares	208000 Rs.

OBJECTIVES FOR THE IPO

For General corporate purposes.
The funds can be used for working capital requirements.
The company will be using the IPO funds for further expansion and upgradation of the manufacturing facility.

COMPANY FINANCIALS

Particularly (in Lakh Rs.)	2020-21	2020-21	2021-22
ASSETS	4136	4059	4324
Revenue	1673	2313	1993
PAT	(-121)	128	132

Indong Tea Company Limited had an asset base of 4136 Lakh Rs in 2020. The same increased to 4059 Lkah Rs in 2021 and 4324 Lakh Rs in 2022. The increase shows that every year the company has been increasing its asset base, meaning expanding itself with the available resources. However the revenues on the other hand are depleting. The revenue of the company was 1673 Lakh Rs in 2020 which increased significantly to 2313 Lakh rs in 2021 but the same fell down to 1993 :Lakh Rs in 2022. Hence the revenue of the company is unstable.

Despite a decrease in revenue the company has managed to earn more every year. The profit of the firm was 128 Lakh Rs in 2021. The company was making a loss of 121 Lakh Rs in 2020. But the same increased to 128 Lakh Rs in 2021 and 132 Lakh Rs in 2022.