Indifra Limited IPO

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  1. Corporate Evolution:
    • Originally incorporated as “Starleads Consultants Private Limited” on May 20, 2009.
    • Changed its name to “Airan Infrastructure Private Limited” on January 24, 2012.
    • Subsequently renamed “Indifra Private Limited” on December 26, 2022.
    • Converted from a private limited to a public limited company on May 11, 2023, with the name changed to “Indifra Limited.”
  2. Promoters and Acquisition:
    • Founded by Poonam Sandeepkumar Agrawal, Bhoomika Gupta, Pankhini Joshi, and Leelawati Dubey.
    • Current promoters, Mr. Abhishek Sandeepkumar Agrawal and Sandeepkumar Vishwanath Agrawal HUF, gained control in FY 2023 and FY 2024, respectively.
  3. Business Model:
    • Operates with a two-edged business model:
      • Pipeline and infrastructure management.
      • Distribution of electrical appliances as a trading vertical.
  4. Pipeline and Infrastructure Management:
    • Provides services to various gas distribution companies for the management of gas distribution pipelines.
    • Previously served Adani Gas Limited and currently serves Charotar Gas Sahakari Mandali Limited (CGSML) for gas pipeline management services.
    • Focus on the Charotar region of Gujarat.
  5. Successful Projects and Reputation:
    • Successful execution of projects for CGSML and Adani Gas Limited enhanced the company’s reputation as a reliable vendor in the gas distribution industry.
    • Commitment to delivering high-quality services, adherence to strict timelines, and continuous investment in cutting-edge technology.
  6. Distribution of Electrical Appliances:
    • Ventured into the sales of electrical appliances in FY 2017.
    • Key distributor for V Guard, a renowned brand in the electrical appliances industry, catering to the Gujarat region.
    • Product 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.
  7. Revenue Mix:
    • Two major business verticals:
      1. Pipeline and Infrastructure Management Contracting Services.
      2. Distribution of electrical appliances.
  8. Quality Assurance and Expansion:
    • Backed by the quality assurance of V Guard, the company emphasizes compliance with requisite safety standards.
    • Constantly strives to expand its line of products and seeks complementary products to enhance the product range.

Objects of the Indifra Limited IPO:

The Issue Proceeds from the Fresh Issue will be utilized towards the following objects: i. To Meet Working Capital Requirements ii. For General Corporate Purposes and Funding investments for acquisitions iii. To meet Public Issue Expenses
DRHP of Indifra Limited IPO
RHP of Indifra Limited IPO

Indifra Limited IPO Details:

Open Date: Dec 21 2023
Close Date: Dec 26 2023
Total Shares: 2,160,000
Issue Type: Fixed Price Issue IPO
Issue Size: 14.04 Cr.
Lot Size: 2000 Shares
Issue Price: ₹ 65 Per Equity Share
Listing At: NSE Emerge
Listing Date: Dec 29 2023

Promoters And Management:

Mr. Abhishek Agrawal aged 26 years is Promoter cum Chairman and Managing Director of the Company. He holds degree of Master of Science in the field of Accounting and Finance and Bachelor of Science in Business Management from Queen Mary University of London. He is having an experience of more than 3 years in the field of information technology & information enabled services. He provides strategic direction and vision to Company, ensuring alignment with the company's goals and objectives. He is responsible for identifying and pursuing new business opportunities, forging partnerships, and expanding the company's market presence. He oversees the day-to-day operations of the company, ensuring efficient management and coordination across all departments. He plays a key role in developing and nurturing leadership talent within the organization, fostering a culture of continuous learning and growth. Mr. Vipulchandra Girishchandra Goswami aged 43 years is an Executive Director of the Company. He holds Higher Secondary Certificate from Gujarat Secondary Education Board, Gandhinagar. He is having an experience of more than 20 years in field operations and back office activities. He has worked with Airan Limited as a General Manager. He oversees the operational aspects of Company, ensuring smooth execution of projects and efficient utilization of resources. Further, he leads and manages projects, ensuring adherence to timelines, quality standards, and client requirements. He also brings technical expertise to the organization, providing guidance and support in areas related to infrastructure management, construction, and project execution Mrs. Bhoomika Aditya Gupta aged 43 years is a Non-Executive Director of the Company. She holds degree of Bachelor of Commerce from Gujarat University. She is having expertise in the field of accountancy and has an experience of more than 5 years, being an Independent Director in professional capacity.

Financials of Indifra Limited IPO:

Particulars ( In Lakhs )
2021
2022
2023
3M-FY24
Revenue from Operations 302 1,091 1,001 63
Other Income 5 1 0.6 1
Total Revenue 307 1,092 1,002 64
Purchase and Direct Expenses 307 978 826 58
Change in Inventorie -42 23 -3 -8
Employee benefits expenses 15 22 21 6
Other Expenses 8 10 11 3
EBITDA 19 60 147 6
Depreciation & Amortisation 0.7 0.6 0.5 0.1
Finance Cost 4 6 12 0.9
EBIT 18 59 146 6
OPM (%) 6.20% 5.49% 14.68% 9.33%
PBT 14 53 135 5
Tax -4 -13 -36 -1
PAT 11 40 99 4
NPM (%) 3.43% 3.66% 9.89% 5.51%
No.of Shares 72.90 72.90 72.90 72.90
EPS 0.14 0.54 1.35 0.04

Comparison With Peers:

Name of the Company Revenue (In Crore) PAT (In Crore) EPS ( in Rs) P/E CMP Mcap (In Crore)
Indifra Limited 10 1 1.35 47.8 65 47
RBM Infracon Limited 83 2 2.62 78.9 347 293
* All the data is as per FY23.

Lead Manager of Indifra Limited IPO:

  1. Beeline Broking Limited

Registrar of Indifra Limited IPO:

  1. Kfin Technology Private Limited

Company Address:

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/#

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