Indifra IPO is a fixed price issue of Rs 14.04 crores. The issue is entirely a fresh issue of 21.6 lakh shares.
Indifra IPO opens for subscription on December 21, 2023 and closes on December 26, 2023. The allotment for the Indifra IPO is expected to be finalized on Wednesday, December 27, 2023. Indifra IPO will list on NSE SME with tentative listing date fixed as Friday, December 29, 2023.
Indifra IPO price is ₹65 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹130,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹260,000.
Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Indifra IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for Indifra IPO is Spread X Securities.
Refer to Indifra IPO RHP for detailed information.
Indifra IPO Details
| IPO Date | December 21, 2023 to December 26, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹65 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 2,160,000 shares (aggregating up to ₹14.04 Cr) |
| Fresh Issue | 2,160,000 shares (aggregating up to ₹14.04 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 5,130,000 |
| Share holding post issue | 7,290,000 |
| Market Maker portion | 108,000 shares Spread X Securities |
Indifra IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the net offer |
| Other Shares Offered | 50% of the net offer |
Indifra IPO Timeline (Tentative Schedule)
Indifra IPO opens on December 21, 2023, and closes on December 26, 2023.
| IPO Open Date | Thursday, December 21, 2023 |
| IPO Close Date | Tuesday, December 26, 2023 |
| Basis of Allotment | Wednesday, December 27, 2023 |
| Initiation of Refunds | Thursday, December 28, 2023 |
| Credit of Shares to Demat | Thursday, December 28, 2023 |
| Listing Date | Friday, December 29, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 26, 2023 |
Indifra IPO Lot Size
Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹130,000 |
| Retail (Max) | 1 | 2000 | ₹130,000 |
| HNI (Min) | 2 | 4,000 | ₹260,000 |
| Lot Size Calculator |
Indifra IPO Promoter Holding
Mr. Abhishek Sandeepkumar Agrawal and Sandeepkumar Vishwanath Agrawal HUF are the promoters of the company.
| Share Holding Pre Issue | 96% |
| Share Holding Post Issue | 67.55% |
About Indifra Limited
Incorporated in 2009, Indifra Limited provides infrastructure management contracting, gas pipeline laying and electrical equipment distribution services. The company was previously known as Starleads Consultants Private Limited.
The company has two business verticals:
- Pipeline and Infrastructure Management Contracting Services.
- Distribution of electrical appliances.
The company provides gas supply companies with the management of their gas supply pipelines. As of December 2023, the company is providing gas pipeline management services to Charotar Gas Sahakari Mandali Limited (CGSML). The company has also worked for Adani Gas Limited.
The company also provides voltage stabilizers, induction cooktops, inverters, batteries, ceiling fans, domestic switch gears and DBs, air coolers, water heaters, modular switches, solar water heaters, air source heat pump water heaters, energy-saving fans and space heaters.
As of June 30, 2023, Indifra Limited have a total of 11 Employees.
Indifra Limited Financial Information (Restated)
Indifra Limited’s revenue decreased by -8.3% and profit after tax (PAT) rose by 148.07% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 630.24 | 312.46 | 420.10 | 229.63 |
| Revenue | 64.28 | 1,001.69 | 1,092.41 | 306.54 |
| Profit After Tax | 3.54 | 99.08 | 39.94 | 10.51 |
| Net Worth | 533.25 | 169.70 | 70.62 | 30.68 |
| Reserves and Surplus | 20.25 | 168.70 | 69.62 | 29.68 |
| Total Borrowing | 38.26 | 50.61 | 45.05 | |
| Amount in ₹ Lakhs |
Key Performance Indicator
Indifra IPO Market Cap is Rs 47.39 Cr and P/E (x) is 11.23.
| KPI | Values |
|---|---|
| P/E (x) | 11.23 |
| Post P/E (x) | 342 |
| Market Cap (₹ Cr.) | 47.39 |
| ROE | 82.45% |
| ROCE | 86.21% |
| EPS (Rs) | 5.79 |
| RoNW | 82.45% |
Check Indifra IPO Peer Comparison here.
Objects of the Issue (Indifra IPO Objectives)
The Issue Proceeds from the Fresh Issue will be utilized towards the following objects:
- To Meet Working Capital Requirements
- For General Corporate Purposes and Funding investments for acquisitions
- To meet Public Issue Expenses
Indifra IPO Review (Avoid)
[Dilip Davda] The company is from Airan group and is engaged in providing pipeline related infra services to gas companies and supplying electrical appliances. It posted minuscule financial performance so far and based on its FY24 annualized earning, the issue appears exorbitantly priced. It operates in a highly competitive and fragmented segment. There is no harm in skipping this pricey bet, being High Risk/No Return bet. Read detail review…
Indifra Limited Contact Details
Indifra Limited
9, Krishna Villa,
Nr. Aamrakunj Society, Karamsad, V.V. Nagar Road,
Karamsad, Anand- 388325
Phone: 02692-360191
Email: shares@indifra.in
Website: https://www.indifra.com/#
Indifra IPO Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: indifra.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/