Indong Tea Company Limited

Company Profile
Company Name Indong Tea Company Limited
Open Date 09-02-2023
Close Date 13-02-2023
Exchange BSE SME
Lot Size 4000 Shares
Issue Price ₹ 26 per share
Issue Size 50,04,000 Equity Shares
Application Amount ₹ 1,04,000
Recommendation Risk_Averse - Should Wait Risk_Seekers - Should Apply
Indong Tea Company Limited incorporated in the year 1990, owns and operates a Tea Garden under Government lease and is engaged in Tea Plantation & Manufacturing of CTC Tea at Indong Tea Estate situated at Jalpaiguri District of West Bengal and is presently managed under the leadership of Sri Hariram Garg, one of the main promoters of the Company. The Indong Tea Estate is spread over an area of 740.38 Hectares which comprises of Tea Plantation, Tea Factory, Withering Trough House, Officer’s Bunglows, Staff Quarters, Labour Quarters, Pump House, General Stores, Dairy Farm etc. The original Promoter of the Company were Devvrat Gupta, Shyam Saran Gupta and Nagarmal Kanoria. The main business of the company is manufacturing of Tea. In the year 2014, the Company was taken over by Asian Group.
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Summary of Financials (All financials in lakhs)

For the Period Ended Sep-22 Mar-22 Mar-21
Total Assets 4,689.74 4,324.96 4,059.79
Net Assets 3,175.79 2,971.18 1,813.20
Total Borrowings 1,047.72 960.09 1,841.73
Total Revenue 1,324.22 1,992.98 2,313.00
Profit After Tax 204.61 131.62 127.56

Tentative Timeline

Opening Date 09-02-2023
Closing Date 13-02-2023
Basis of Allotment 16-02-2023
Initiation of Refunds 17-02-2023
Credit of Shares to Demat 20-02-2023
Listing Date 21-02-2023

Objects of the Issue

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

Contact Information

Registered Office Indong Tea Company Limited Sikkim Commerce House, 4/1, Middleton Street, Kolkata – 700071
Phone +91 33 4006 3601

Registrar Details

Name Cameo Corporate Services Limited
Phone +91-44-28460390

IPO Reservation

Market Maker Shares Offered 2,52,000 (5.04%)
Other Shares Offered 23,76,000 (47.48%)
Retail Shares Offered 23,76,000 (47.48%)
Total Shares Offered 50,04,000 (100%)

Shareholding Pattern

Share Holding Pre Issue (Promoters) 96.09%
Share Holding Post Issue (Promoters) 64.03%

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