Indong Tea Company Limited IPO Date, Allotment, and all Details
Indong Tea Company Limited
Indong is a wonderful tea garden in the Western Dooars that is nestled in the Himalayan Range's foothills. The garden was established more than a century ago by the British Planters under the renowned Gillanders & Arbuthnot & Co., who were blessed with a brisk temperature and a panoramic view of the mountains and meandering rivers. Many of the British contributions to the garden still exist today. The company was acquired by Sri Hariram Garg & his Associates Company, the current promoters of the company, in the month of August 2014. Sri Hariram Garg's Leadership is in charge.
The Indong Tea Company's goods are basically divided into:
- 1. CTC (Crush/Cut, Tear, Curl) Tea
- 2. Tea and Tea Plantation
- 3. Tea Manufacturing Process
- 4. Plucking
- 5. Withering
- 6. Rolling
- 7. Fermentation
- 8. Drying
- 9. Grading
- 10. Packing / Dispatching
Indong Tea Company Limited(IPO Details)
Indong Tea Company Limited was founded in 1990 and specializes in the production of tea. The business operates a tea garden on land leased from the government and is involved in tea plantations and CTC tea manufacturing.
They have a tea plantation, a tea factory, a withering trough house, officer's bungalows, staff quarters, labour quarters, a pump house, general stores, a dairy farm, etc. on their 740.38 hectare Indong Tea Estate.
Devvrat Gupta, Shyam Saran Gupta, and Nagarmal Kanoria were the company's original promoters. In 2014, under a takeover plan, the ownership was given to Sri Hariram Garg, a promoter of Asian Group.
Indong Tea Company IPO Details
IPO Date | Feb 9, 2023 to Feb 13, 2023 |
Listing Date | [.] |
Face Value | 10 per share |
Price | 26 per share |
Lot Size | 4000 Shares |
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
and Exports Limited are the promoters of the company. |
Goals To Be Achived Through IPO
The Objects are :
- Funding Capital Expenditure for the Indong Tea Estate in Jalpaiguri, West Bengal's tea plantation's expansion, uprooting, and infilling
- Funding Capital Expenditure for the Installation of New Equipment for Tea Processing Unit at Indong Tea Estate, Jalpaiguri, West Bengal
- To satisfy the need for working capital
- To cover the issue's costs
- General Business Objectives
Event | Tentative Date |
---|---|
Opening Date | Jan 27, 2023 |
Closing Date | Jan 31, 2023 |
Basic of Allotment | Feb 3, 2023 |
Initiation of Refunds | Feb 6, 2023 |
Credit of Shares to Demat | Feb 7 2023 |
Listing Date | Feb 8 2023 |
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