Indifra Limited IPO

Indifra Limited IPO is going to list on stock exchange on Wednesday, December 29, 2023. It will list on the NSE and SME stock exchange.

Indifra Limited IPO opens for subscription on December 21, 2023 and closes on December 26, 2023. IPO Price of per share is ₹65. The total issue is of Rs.14.04 crores which will be raised through fresh issue of shares.

Indifra Limited IPO lot size for an application is 2000 shares per lot which comes to Rs. 1,30,000. Retail Investor can apply only 1 lot of shares and HNIs have to apply minimum of 2 lots. which comes to Rs. 2,60,000.

Indifra Limited IPO

Indifra limited ipo schedule

IPO open for subscriptionDecember 21, 2023
IPO close for subscriptionDecember 26, 2023
Allotment of sharesDecember 27, 2023
Listing DateDecember 29, 2023

Indifra Limited IPO financial information

Amount in Rs. Lakhs

ParticularsFor the period ended June 30, 2023For the year ended March 31, 2023For the year ended March 31, 2022For the year ended March 31, 2021
Net Profit3.5499.0839.9410.51
Total Equity533.25169.7070.6230.68
Growth in Revenue YOY-9.15%256.36%
ParticularsFor the period ended June 30, 2023For the year ended March 31, 2023For the year ended March 31, 2022For the year ended March 31, 2021

The P/E ratio of the company at the price point of Rs. 65 is 11.22; for P/E calculation we have taken the EPS of March 31, 2023.

The Total Market capitalisation of Happy Forgings Limited at price of Rs. 65 per share is INR 47.39 crores.

About Indifra Limited

Indifra Limited manufacture was originally incorporated as “Starleads Consultants Private Limited”. Our current promoters Mr. Abhishek Sandeepkumar Agrawal and Sandeepkumar Vishwanath Agrawal HUF acquired control of our company in FY 2023 and FY 2024, respectively.

Company’s revenue mix consists of following major business verticals:

1. Pipeline and Infrastructure Management Contracting Services;

2. Distribution of electrical appliances;

Indifra Limited cater to various gas distribution companies for management of their gas distribution pipelines. Under this vertical, in past, company have catered to Adani Gas Limited. As on date, company cater to Charotar Gas Sahakari Mandali Limited (CGSML), for gas pipeline management services. We started our 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.

Objective of the offer

The offer comprises a fresh issue of 21,60,000 Equity Shares aggregating up to ₹14.04 crores

Fresh Issue:

The Issue Proceeds from the Fresh Issue will be utilized towards the following objects:

1. To Meet Working Capital Requirements

2. For General Corporate Purpose and Funding investments for acquisitions

3. To meet Public Issue Expenses

The proceeds of the Issue, after deducting Issue related expenses, are estimated to be ₹ 1,238.43 Lakhs (the “Net Issue Proceeds”). The following table summarizes the requirement of funds:

ParticularsAmount(Rs in Lakhs)
Gross Issue Proceeds1,404.00
Less: Public Issue Related Expenses165.57
Net Issue Proceed1,238.43

The Net Proceeds are currently expected to be deployed in accordance with the estimated schedule set forth below:

ParticularsAmount% of Gross Issue Proceeds
To meet working capital requirements800.0056.98%
For General Corporate Purpose and Funding investments for acquisitions438.4331.23%

Read about Happy Forgings IPO

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