Indong Tea Company IPO GMP, Review, Price, Allotment


Last updated on February 21, 2023

Indong Tea Company IPO GMP

Indong Tea Company IPO description – Indong Tea Company Limited owns and operates a Tea Garden under Government lease and is engaged in Tea Plantation & Manufacturing of CTC Tea at Indong Tea Estate situated in Jalpaiguri District of West Bengal. 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 Bungalows, Staff Quarters, Labour Quarters, Pump House, General Stores, Dairy Farm etc.

The Company is having one Tea Garden i.e. Indong Tea Estate which is producing high-quality CTC tea in Dooar’s region. In the year 2014, the company was taken over by the Asian Group promoted by Sri Hariram Garg.

The company produces only CTC (Crush/Cut, Tear, Curl) Tea. This a method of processing black tea in which the leaves are passed through a series of cylindrical rollers with hundreds of sharp teeth that crush, tear, and curl the tea into small, hard pellets. This replaces the final stage of orthodox tea manufacture, in which the leaves are rolled into strips.

Indong Tea 2023

Promoters of Indong Tea Company – Mr. Hariram Garg, Mr. Madanlal Garg and M/S Asian Tea & Exports Limited

Indong Tea Company IPO Details

Indong Tea Company IPO Dates9 – 13 February 2023
Indong Tea Company IPO PriceINR 26 per share
Fresh issue5,004,000 shares (INR 13.01 crore)
Offer For SaleNil
Total IPO size5,004,000 shares (INR 13.01 crore)
Minimum bid (lot size)4,000 shares (INR 1,04,000)
Face Value INR 10 per share
Retail Allocation50%
Listing OnBSE SME

Indong Tea Company Financial Performance

 FY 2020FY 2021FY 2022H1 FY 2023
Net income(121.29)127.56131.62204.61
Figures in INR Lakh unless specified otherwise

Indong Tea Company Offer News

Indong Tea Company Valuations & Margins

FY 2020FY 2021FY 2022
PE ratio12.26
RONW (%)15.24
ROCE (%)
EBITDA (%)9.8418.3218.83

Indong Tea Company IPO GMP Daily Trend

DateConsolidated IPO GMPKostakSubject to Sauda
18 Feb 20234
17 Feb 20234
16 Feb 20233
15 Feb 20233
14 Feb 20233
13 Feb 20233
11 Feb 20233
10 Feb 20233
9 Feb 20232
8 Feb 20232

Indong Tea Company Offer Subscription – Live Updates

Shares Offered2,502,0002,502,0005,004,000
13 Feb 20232.237.915.07
10 Feb 20230.551.761.16
9 Feb 20230.310.750.53

Indong Tea Company Offer Lead Manager

Anandlok Building, Block-A,
2nd Floor, Room No. 207,
227 A.J.C Bose Road,
Kolkata-700020, West Bengal
+91 033 22895101/46032561
[email protected]

Indong Tea Company Offer Registrar

Subramanian Building,
#1, Club House Road,
Chennai – 600 002, India
Phone: +91-44-40020700, 28460390
Email: [email protected]

Indong Tea Company Contact Details

Sikkim Commerce House,
4/1, Middleton Street,
Kolkata – 700071, West Bengal
Phone: +91 33 4006 3601
E-mail: [email protected]

Indong Tea Company IPO Allotment Status

Indong Tea Company IPO allotment is now available on Cameo Corporate Services’ website. Click on this link to get allotment status.

Indong Tea Company IPO Timetable

Indong Tea Company IPO Opening Date9 February 2023
Indong Tea Company IPO Closing Date13 February 2023
Finalisation of Basis of Allotment16 February 2023
Initiation of refunds17 February 2023
Transfer of shares to demat accounts20 February 2023
Indong Tea Company IPO Listing Date21 February 2023
Opening Price on BSE SMEINR 20.8 per share (down 20%)
Closing Price on BSE SMEINR 21.80 per share (down 16.15%)

Indong Tea Company IPO FAQs

What is Indong Tea Company offer size?

Indong Tea Company offer size is INR 13.01 crore.

What is Indong Tea Company IPO Price Band?

Indong Tea Company public offer price is INR 26 per share.

What is the lot size of Indong Tea Company IPO?

Indong Tea Company offer lot size is 4,000 shares.

What is Indong Tea Company IPO GMP today?

Indong Tea Company IPO GMP today is INR 4 per share.

What is Indong Tea Company kostak rate today?

Indong Tea Company kostak rate today is NA per application.

What is Indong Tea Company Subject to Sauda rate today?

Indong Tea Company Subject to Sauda rate today is INR NA per application.


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