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- Indifra Ltd
Indifra Ltd IPO
The Company cater to various gas distribution companies for management of their gas distribution pipelines. The primary clients are Adani Gas Limited and Charotar Gas Sahakari Mandali Limited (CGSML), for gas pipeline management services. The Company started Gas Pipeline Management Services with CGSML the leading gas distribution company in the region and the world's first co-operative Natural Gas Provider, in year 2022 with a proposition to collaborate and provide comprehensive gas pipeline management services in Charotar region of Gujarat.
In FY 2017, the Company seized upon an opportunity to expand its business horizon by venturing into the sales of electrical appliances. Recognizing the increasing demand for high-quality products that enhance the comfort and convenience of customers, the company became a key distributor for V Guard, a renowned brand in the electrical appliances industry, catering to the needs of customers in the Gujarat region. By leveraging its existing network and expertise in the gas pipeline management sector, the Company strategically capitalized on the synergies between the two businesses. The company's electrical appliances portfolio includes voltage stabilizers, induction cooktops, inverters, batteries, ceiling fans, domestic switch gears and distribution boards (DBs), air coolers, water heaters, modular switches, solar water heaters, air source heat pump water heaters, energy-saving fans, and room heaters. It derive revenue from 2 major business verticals: Pipeline and Infrastructure Management Contracting Services and Distribution of electrical appliances.
The Company is planning a Fresh Issue of 2160000 Equity Shares through Public Issue.
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Indifra Ltd IPO Timeline
Indifra Ltd IPO opens on 21-Dec-2023, and closes on 26-Dec-2023. The Indifra Ltd IPO bid date is from 21-Dec-2023 to 26-Dec-2023. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.
| Event | Date |
|---|---|
| Indifra Ltd IPO Opening Date | 21-Dec-2023 |
| Indifra Ltd IPO Closing Date | 26-Dec-2023 |
| Basis of Allotment | 27-Dec-2023 |
| Initiation of Refunds | 28-Dec-2023 |
| Credit of Shares to Demat | 28-Dec-2023 |
| Indifra Ltd IPO Listing Date | 29-Dec-2023 |
Indifra Ltd IPO Lot Size
Indifra Ltd IPO lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or 130000).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Minimum | 1 | 2000 | ₹130000 |
| Maximum | 1 | 2000 | ₹130000 |
Indifra Ltd IPO Details
| Indifra Ltd IPO Date | 21-Dec-2023 to 26-Dec-2023 |
| Indifra Ltd IPO Face Value | Shares of ₹10 per share |
| Indifra Ltd IPO Price | ₹65 per share |
| Indifra Ltd IPO Lot Size | 2000 |
| Issue Size | Shares of ₹10 (aggregating up to ₹14.04 Cr) |
| Fresh Issue | Shares of ₹10 (aggregating up to ₹14.04 Cr) |
| Offer for Sale | - |
| Issue Type | Fixed Price - SME |
| Listing At | NSE - SME |
| QIB Shares Offered | - |
| Retail Shares Offered | - |
| NII (HNI) Shares Offered | - |
| Company Promoters | Abhishek Sandeepkumar Agrawal, Sandeepkumar Vishwanath Agrawa. |
Objects of the Issue
The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
- 1 To meet working capital requirements
- 2 Funding investments for acquisitions and general corporate purposes
Company Financials
Indifra Ltd Financial Information (Restated)
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 03-2024 | 18.44 | 10.06 | -1.19 |
| 03-2023 | 3.12 | 10.02 | 1.00 |
| 03-2022 | 4.20 | 10.92 | 0.40 |
| Amount in ₹ Crore | |||
- Experienced Management Team.
- Well-defined organizational structure.
- Existing Supplier Relationship.
- Customer Relationship.
- Asset Light Business Model .
- The company registered office from where its operate is not owned by it.
- The company failure to perform in accordance with the standards prescribed in work order of its client could result in loss of business or compensation payment.
- One of its business verticals is a high volume-low margin business.
- The company individual Promoters plays key role in its functioning and the company heavily relies on their knowledge and experience in operating its business and therefore, it is critical for the company business that its Promoter and Executive Directors remain associated with it. The company success also depends upon the services of its key managerial personnel and the company ability to attract and retain key managerial personnel and its inability to attract them may affect the company operations.
- The company failure to perform in accordance with the standards prescribed in work order of its client could result in loss of business or compensation payment.
- The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
- Its top 10 customers contribute a significant portion of the company revenue from operations.
- The Company requires significant amount of working capital for a continued growth. Its inability to meet the company working capital requirements may have an adverse effect on its results of operations.
- The Company had negative cash flow from operating activity in recent fiscals, details of which are given below. Sustained negative cash flow could adversely impact its business, financial condition and results of operations.
- The Company has in the past has made certain inadvertent erroneous filings under Companies Act, 2013. Further, there have also been instances where the Company has inadvertently filed incorrect information with the RoC in its statutory filings.
- There are certain discrepancies and non- compliances noticed in some of its financial reporting and/or records relating to filing of returns and deposit of statutory dues with the taxation and other statutory authorities.
- The company has certain outstanding litigation against it, an adverse outcome of which may adversely affect its business, reputation and results of operations.
- The Company has availed unsecured Inter-corporate loans which are repayable on demand. Any demand from lenders for repayment of such unsecured loans, may adversely affect its cash flows.
- The company depends on its corporate name and logo that its may not be able to protect and/or maintain.
- The company Promoters and Promoter Group will continue to exercise control post completion of the Issue and will have considerable influence over the outcome of matters.
- The company ability to pay dividends in the future will depend upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in its financing arrangements.
- The company's inability to successfully implement its business plan, expansion and growth strategies could have an adverse effect on its business, financial condition, cash flows and results of operations.
- In addition to normal remuneration, other benefits and reimbursement of expenses to its Promoters and Directors; they are interested to the extent of their shareholding and dividend entitlement thereon in the Company and for the transactions entered into between its and themselves as well as between the Company and our Group Companies/ Entities.
- The company Object has not been appraised by any Bank or Financial Institution. Any significant deviation in the Object could adversely impact its operations and sustainability in the absence of any independent monitoring agency.
- There is no monitoring agency appointed by the Company and the deployment of funds are at the discretion of its Management and the company Board of Directors, though it shall be monitored by its Audit Committee.
- In the event there is any delay in the completion of the Issue, or delay in schedule of implementation, there would be a corresponding delay in the completion of the objects of this Issue which would in turn affect its revenues and results of operations.
- The company's success largely depends on its Board and Key Managerial Personnel and the company ability to attract and retain them. Any loss of its director and key managerial personnel could adversely affect its business, operations and financial condition.
- The average cost of acquisition of Equity shares by its Promoters is lower than the Issue price.
- The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
- The company revenues and profitability vary across its business verticals, thereby making the company future financial results less predictable.
- The company has not made any alternate arrangements for meeting its capital requirements for the Objects of the issue. Further the company has not identified any alternate source of financing the "Objects of the Issue". Any shortfall in raising / meeting the same could adversely affect its growth plans, operations and financial performance.
- Industry information included in this draft prospectus has been derived from industry reports. There can be no assurance that such third-party statistical, financial and other industry information is either complete or accurate.
- Certain information contained in this Draft Prospectus is based on management estimates and the company cannot assure you of the completeness or accuracy of the data.
- The requirements of being a public listed company may strain its resources and impose additional requirements.
- Focus on Increase in Volume of Sales.
- Reduction of operational costs and achieving efficiency.
- To increase brand visibility.
- Maintaining edge over competitors.
- Customer Satisfaction.
Indifra Ltd IPO Promoter Holding
| Pre Issue Share Holding | 94.97% |
| Post Issue Share Holding | 66.83% |
Indifra Ltd IPO Subscription Status (Bidding Detail)
The Indifra Ltd IPO is subscribed 6.8935 times on Dec 26, 2023 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | QIB | NII | Retail | Employee | Total |
|---|---|---|---|---|---|
| Subscription (times) | - | - | - | - | 6.8935 |
Indifra Ltd IPO Prospectus
Indifra Ltd IPO Listing Date
| Listing Date | 29 Dec 23 |
| BSE Script | 91807 |
| NSE Symbol | INDIFRA |
| Listing In | NSE - SME |
| ISIN | INE0PS301014 |
| IPO Price | ₹65 |
| Face Value | ₹10 |
Indifra Ltd IPO Registrar
KFin Techologies Ltd
Phone: +91 40 6716 2222
Email: indifra.ipo@kfintech.com
Website: www.kfintech.com
Indifra Ltd IPO Lead Manager(s)
- Beeline Capital Advisors Pvt Ltd
FAQs on Indifra Ltd IPO
Indifra Ltd IPO, which opens for subscription from 21-Dec-2023 to 26-Dec-2023 has an issue size of ₹14.04 crore. The issue type is book building issue.
In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Indifra Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.
Indifra Ltd IPO Opens for subscription from 21-Dec-2023 to 26-Dec-2023.
The lot size of Indifra Ltd is 2000 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹130000 and ₹130000 respectively.
Allotment date for Indifra Ltd is 27-Dec-2023 and refund of application amount (in case allotment is not received) will begin from 28-Dec-2023. If your allotment goes through, then shares will be credited in your Demat account by 28-Dec-2023.
The registrar for Indifra Ltd IPO is KFin Techologies Ltd . You can check your IPO allotment status on the registrar's website.
The shares of Indifra Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
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