The company was originally incorporated as “Starleads Consultants Private Limited” on May 20, 2009. It caters to various gas distribution companies for the management of their gas distribution pipelines. It has a two-edged business model with a spectrum of services including pipeline and infrastructure management and distribution of electrical appliances as a trading vertical
| Bidding Dates |
|---|
| 21 Dec 2023 - 26 Dec 2023 |
| Subscription |
|---|
| 6.89x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,30,000 | 1 | 1 | 2000 | 2.2 M | ₹65 | 67.56 % | ₹140.4 M | RHP DOC |
Indifra IPO SUBSCRIPTION STATUS
26 Dec '23Indifra IPO overall subscription rate was 6.89 times the total available shares
Indifra IPO retail subscription rate was 11.46 times in the retail segment
Indifra IPO non-institutional investor subscription rate was 2.32 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
26 Dec 2023 (Day 3) | 11.46x | 2.32x | - |
22 Dec 2023 (Day 2) | 3.14x | 0.39x | - |
21 Dec 2023 (Day 1) | 1.05x | 0.22x | - |
Indifra FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| Q2FY24 | 0.4 | 6.3 | -0.4 | -0.4 | 6.8% |
| FY23 | 9.9 | 100.1 | -18.8 | -18.8 | 14.6% |
| FY22 | 4.0 | 109.1 | 7.2 | 7.2 | 5.4% |
| FY21 | 1.1 | 30.2 | -6.9 | -6.9 | 4.6% |
Indifra IPO SUBSCRIPTION STATUS DETAILS
Indifra had 2.2 M shares on offer
Indifra IPO offer price was ₹65
Indifra IPO minimum Investment was ₹130000
Indifra IPO issue size was ₹ 140.4 M
Indifra had a minimum lot size of 2000 Shares per application
Indifra NUMBER OF SHARES ON OFFER
Indifra IPO IMPORTANT DATES
| Issue Open Date | 21 Dec 2023 |
| Issue close Date | 26 Dec 2023 |
| Allotment Date | 27 Dec 2023 |
| Refund Date | 28 Dec 2023 |
| Demat Account Credit Date | 28 Dec 2023 |
| Listing Date | 29 Dec 2023 |
| Listing on Exchange(s) | NSE |
| Indifra Allotment Status | Exchange |
Indifra IPO subscription opened on 21 Dec 2023, and closed on 26 Dec 2023
IPO allotment for Indifra was finalized on Wednesday, 27 Dec 2023
IPO listing for Indifra was on NSE on Friday, 29 Dec 2023
Indifra IPO LISTING GAINS
| Issue Price (adjusted) | 65.0 |
| Listing Open Price | 72.0 |
| Listing Close Price | 68.4 |
| Listing Gain% | 10.8% |
| Current Gain% | -81.6% |
Indifra Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Indifra Ltd. | 12 | 8.7 | 588.7 | 5.9 | 0.5 | 0.1 | 0.1 | 17.8 | 46.8 | 0 | 100 | 0 | 100 |
| Sagility Ltd. | 43.4 | 20321.6 | 20.5 | 0.4 | 2.7 | 9.6 | 7.3 | 7290.8 | 29.6 | 924.8 | 71.5 | 2.1 | 49.2 |
| International Gemological Institute Ltd. | 350.1 | 15129.9 | 24.8 | 1 | 11.1 | 47.8 | 38.3 | 1661.9 | 52.7 | 711.2 | 66.4 | 14.1 | 24.3 |
| Indiabulls Ltd. | 28.5 | 6639.2 | 15.8 | 0 | 6 | 8.9 | 6.6 | 880.8 | 172602 | 273.9 | 501.6 | 1.8 | 739.2 |
| SIS Ltd. | 438 | 6188.6 | 42.2 | 0.2 | 0.4 | 5.4 | 1.8 | 16030.1 | 20.9 | 137.8 | 1069.1 | 10.4 | 261.6 |
| eMudhra Ltd. | 524.8 | 4346.4 | 37.8 | 1.5 | 5.8 | 11.8 | 8.9 | 713.2 | 35.1 | 107.8 | 27.4 | 13.9 | 25.5 |
Indifra INFORMATION ON IPO ISSUE
About Indifra
The company was originally incorporated as “Starleads Consultants Private Limited” on May 20, 2009. It caters to various gas distribution companies for the management of their gas distribution pipelines. It has a two-edged business model with a spectrum of services including pipeline and infrastructure management and distribution of electrical appliances as a trading vertical
Object of the Issue
- To meet working capital requirements
- For general corporate purpose and funding investments for acquisitions
- To meet public issue expenses
Indifra - PROMOTERS
| Name |
|---|
| Abhishek Sandeepkumar Agrawal |
| Sandeepkumar Vishwanath Agrawal HUF |
Indifra Lead Manager to the Issue
Beeline Capital Advisors Private Limited
mb@beelinemb.com
Indifra Registrar to the issue
Kfin Technologies Private Limited
indifra.ipo@kfintech.com
Indifra Strengths
Experienced management team
The management team has extensive experience in the industry and has played a key role in the company's growth and financial success
Existing supplier relationship
The current supplier relationship safeguards the business regarding product and service supply, pricing, and product/service quality
Indifra Risks
High-volume, low-margin business
Revenue from the distribution of electrical appliances is a high-volume, low-margin business. To enhance profitability, the company may need to increase its sales volume significantly
Standards prescribed in work
The company receives work orders from clients, and many of these orders may involve adhering to the clients' specified code of conduct and regulations. This can lead to increased compliance costs
IPO FAQs
The promoters of the company are Abhishek Sandeepkumar Agrawal and Sandeepkumar Vishwanath Agrawal HUF.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 65.0 - 65.0.
The IPO application opens on Dec 21, 2023 and closes on Dec 26, 2023.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 130,000.0, the maximum value for this IPO is Rs 130,000.0.
This IPO will be allotted on Dec 27, 2023.
The refund will be credited to your account on Dec 28, 2023.
The allotted shares will be credited to your demat on Dec 28, 2023.
Indifra Ltd.’s shares listed on the stock exchanges on Dec 29, 2023.