The upcoming initial public offerings(IPO) are-
Indong Tea Company Limited-
Indong Tea Company Limited was incorporated in the year 1990 and owns and operates a tea garden under a 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, labor quarters, pump house, general stores, and dairy farm.
The company produces only CTC (Crush/Cut, Tear, and Curl) tea. This is 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. Tea produced using this method is generally called CTC tea.
Indong Tea Company Limited has one and only tea garden i.e. Indong Tea Estate comprising 740.38 hectares out of which 492.09 hectares are under tea plantation.
Teas that are processed in traditional fashion are called Orthodox teas. Orthodox teas generally contain only the top two tender leaves and an unopened leaf bud, which are plucked carefully by hand and then processed using five basic steps, creating varieties of tea. The other way of making tea is the unorthodox method, of which the most common type is CTC (crush-tear-curl). This much faster style of production was specifically created for black tea. These teas may or may not be plucked by hand. For commercial production, large machine harvesters are used to “mow” the top of the bushes to get the new leaves.
The promoters of the company are Hariram Garg and Madan Lal Garg. The objects of the offer are to fund capital expenditure towards the extension, uprooting, and infilling of the tea plantation at Indong Tea Estate, Jalpaiguri, West Bengal, and funding capital expenditure towards the installation of additional plant and machinery for the tea processing Unit at Indong Tea Estate, Jalpaiguri and meet the working capital requirements.
The company had revenues of Rs 16.72 crore with a loss of 1.21 crores (Year ended March 31, 2020), revenues of Rs. 23.13 crore with a profit of Rs. 1.27 crore (Year ended March 31, 2021), and revenue of Rs. 19.92 crores with a net profit of Rs. 1.31 crores (Year ended March 31, 2022).
Lead Reclaim and Rubber Products Limited –
Lead Reclaim and Rubber Products Limited is in the business of manufacturing reclaimed rubber, crumb rubber powder, and rubber granules. The company focuses on saving valuable natural resources by way of recycling and helping customers fulfill their circularity aspirations through the use of reclaimed rubber products. It is one of the few companies in the reclaimed rubber industry that can process radial rubber, scrap tyre, and tube rubber. The manufacturing facility is situated at Kheda, Gujarat, which is spread over a total land area of approximately 7790 Sq. mts. with the existing plant occupying approximately 2253 sq. mts and a total installed capacity of 5520 metric tons.
The product portfolio of the company offers a diversified product range which includes a variety of grades, thicknesses, widths, and standards of various grades of whole tyre reclaim rubber, butyl reclaim rubber, and natural reclaimed rubber. It sells its products to OEMs, Tier- I companies in the automotive manufacturing sector, distributors and dealers, and also products to foreign buyers located in Sri Lanka, Argentina, Turkey, China, etc through merchant exporters.
The promoters of the company are Baldevbhai Patel, Jayeshkumar Patel, Kalpesh Patel, Rekhaben Patel, Sadhana Patel and Diksha Patel. The company proposes to utilize the net proceeds from the Issue towards funding the working capital requirements and purchase of plant and machinery for augmenting the manufacturing facility.
The company had revenues of Rs 4.83 crore with a profit of 36.36 lakhs (Year ended March 31, 2020), revenues of Rs. 7.06 crores with a profit of Rs. 22.74 lakhs (Year ended March 31, 2021), and revenue of Rs. 10.36 crores with a net profit of Rs. 47.87 lakhs (Year ended March 31, 2022).
Agarwal Float Glass India Limited-
Agarwal Float Glass India Limited is engaged in the business of trading glass and specialized glass products by procuring quality products from manufacturers and selling them either through its sales managers or directly to the customers. The customers are spread across the country and work across varied industry segments such as office buildings, hotels, institutions, banks, insurance companies, shopping malls, diplomatic residences, etc. The company’s products cater to a range of end-use industries including construction, automotive, and industrial sectors, with a variety of applications such as exterior and interior spaces of residential and commercial buildings the product portfolio largely consists of clear glass, different kinds of value-added glass products and processed glass products, of varying thickness. It also offers processed glass, which includes, toughened glass, frosted glass, frosted design glass, leaguered glass, figure glass, heat-strengthened glass, insulated glass, PVB laminated glass, and bullet-resistant glass.
Agarwal Float Glass India Limited is highly dependent upon suppliers and distributors, namely Saint-Gobain India Private Limited, Sisecam Flat Glass India Private Limited, Gold Plus Glass Industry Limited, Asahi India Glass Limited, and Gujarat Guardian Limited, for delivering quality products to the customers. The Company has devised an extensive supplier selection process in order to identify and evaluate the effectiveness and quality of the products manufactured by the suppliers, reduce purchase risk, maximize overall value to the purchaser, and develop closeness and long-term relationships between buyers and suppliers.
The promoters of the company are Uma Shankar Agarwal and Mahesh Kumar Agarwal. The proceeds of the issue would be utilized for funding the working capital requirements and general corporate purposes.
The company had revenues of Rs 32.27 crore with a profit of 8.83 lakhs (Year ended March 31, 2020), revenues of Rs. 31.88 crores with a profit of Rs. 24.73 lakhs (Year ended March 31, 2021), and revenue of Rs. 42.16 crores with a net profit of Rs. 1.01 crore (Year ended March 31, 2022).
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