Indong Tea Company Limited
IPO Details
Subscription
Lot Distribution
Reservation
Company Fin.
₹1.5(5.77%)
Premium (ELP)
The Initial Public Offering of Indong Tea Company Limited's culminated in its successful listing on Feb 21, 2023 at the BSE trading platform. The company secured 50,04,000 Shares through this capital market exercise, with 50,04,000 Shares allocated to new capital formation.
Investors participated within the price parameters of ₹26 to ₹26, with minimum investment requirements of 4000 shares. The subscription period from Feb 09, 2023 to Feb 13, 2023 witnessed active investor engagement across categories.
Following the subscription closure, share allotment was processed on Feb 16, 2023. The subsequent listing established a public market for the company's shares, enabling price discovery and secondary market trading for investors.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Incorporated in 1990, Indong Tea Company Limited is engaged in tea plantation and manufacturing, operating its Indong Tea Estate under a government lease. The estate spans 740.38 hectares and includes plantation fields, a tea factory, withering trough house, staff and labor quarters, officer bungalows, pump house, general stores, and a dairy farm. Originally promoted by Devvrat Gupta, Shyam Saran Gupta, and Nagarmal Kanoria, ownership was transferred to Sri Hariram Garg of the Asian Group in 2014. The company specializes in CTC (Crush/Cut, Tear, Curl) tea, managing the entire manufacturing process including plucking, withering, rolling, fermentation, drying, grading, and packing. Indong Tea Company recorded revenues of Rs. 2,313 lakhs in 2021, Rs. 1,672.64 lakhs in 2020, and Rs. 1,481.57 lakhs in 2019.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
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- Mr. Hariram Garg
- Mr. Madanlal Garg
- M/s. Asian Tea & Exports Limited
Indong Tea Company Limited
Cameo Corporate Services Limited