What does The Scottish Assam (India) Ltd. do?

The Scottish Assam (India) Ltd. is an Assam-based tea company incorporated in 1977. It cultivates and processes tea under its own brand 'Heeleakah' from its estate gardens, and since 2012, also processes bought-leaf tea under the brand 'Dhopatbari'. The company is a public limited unlisted entity registered in Kolkata, West Bengal.

What are the tea brands of Scottish Assam?

The company produces tea under two primary brands: 'Heeleakah', which is its estate-grown brand, and 'Dhopatbari', which represents teas manufactured from bought leaf started in 2012.

Is Scottish Assam (India) Ltd. listed on any stock exchange?

No, The Scottish Assam (India) Ltd. is an unlisted public limited company. Its shares are traded in the unlisted/grey market, with a current indicative price of approximately ₹521 per share.

Where are Scottish Assam's tea gardens located?

The company operates in Assam, India's premier tea-growing belt. The Heeleakah garden is its primary estate, situated in the tea-rich landscape of Assam, with operations registered and headquartered in Kolkata, West Bengal.

How do I buy Scottish Assam (India) unlisted shares here?

Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.

Who am I actually transacting with?

You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.

How do I pay, and is there a payment gateway?

Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

How long does settlement take?

After you accept an allocation, you have a short window to pay (typically 2 days). Once payment is verified, shares are usually credited to your demat within 2–3 business days, subject to depository timelines and any company-level restrictions. Timeframes are typical, not guaranteed.

There are no separate platform fee lines and no GST on the transfer — the desk's margin is built into the buy/sell price you're quoted. The only statutory add-on on a purchase is stamp duty on the consideration, shown transparently in your cost breakdown.

Is there a minimum ticket size for Scottish Assam (India)?

Minimums vary by company and depend on the lot the desk can source. Raise an enquiry and the desk will confirm the available quantity and the minimum for that name.

What KYC do I need, and do I need a demat account?

You'll share your demat details when you enquire so we can settle directly. Full KYC — PAN and a client-master / demat statement — is required before the transfer step, when shares actually change hands. Yes, you need an active demat account to hold unlisted shares.

Are there lock-ins on unlisted or pre-IPO shares?

Some shares carry statutory or company-imposed lock-ins — for example, a post-listing lock-in on pre-IPO stock — and transfers can be subject to the company's articles or approvals. Where a lock-in applies, we'll flag it before you commit.

How do I sell Scottish Assam (India) shares I already hold?

Raise a sell enquiry with the company, quantity and your target price. The desk confirms a buying price, you transfer your shares into the desk's demat, and once the credit is verified we pay you out by bank transfer to your registered account. The desk never pays out before your shares are received.

Unlisted shares are illiquid, may be hard or impossible to sell, and are not covered by exchange settlement guarantees or investor-protection funds. Pricing is indicative, not live. Read the full Risk Disclosure before you enquire, and invest only what you can afford to lock away.

Scottish Assam (India) Unlisted Share Price | Buy Scottish Assam (India) Pre-IPO Shares — wisefolio

Investment Thesis

Upper Assam CTC tea company (est. 1977) operating the 632-hectare Heeleakah Tea Estate in Jorhat — a well-established estate with 82% productive-age bushes. Also produces Orthodox tea under the Dhopatbari brand since 2012. Revenue ₹42.03 Cr FY2023. The standout feature is the balance sheet: ₹81 Cr liquid investment portfolio (Dec 2023) and negative net debt — the company holds far more cash than debt. ICRA BBB+ Stable. Operating margins declining (9M FY2024 OPBDITA only ₹1.3 Cr) with net profits propped up by investment income. Listed on CSE only. Low liquidity but extremely asset-rich for its revenue scale.

Pros

ICRA BBB+ (Stable) rated — strong investment-grade credit
Liquid investment portfolio ~₹81 Cr (Dec 2023) — far exceeding revenue; exceptional balance sheet
Negative net debt position — zero financial stress; debt less than cash/liquid investments
82% of tea bushes in productive 6–50 year age band — high estate quality
Diversified: CTC estate tea (Heeleakah) + Orthodox bought-leaf (Dhopatbari brand)

Cons

Revenue ₹42.03 Cr FY2023 (−2.11% YoY); profit fell −66.33% in FY2023
OPBDITA compressed to ₹1.3 Cr in 9M FY2024 vs ₹7.7 Cr prior year — declining margins
Listed on CSE (Calcutta Stock Exchange) only — low liquidity for investors
Orthodox tea price decline affecting Dhopatbari bought-leaf profitability

Business Segments

CTC tea production — Heeleakah Tea Estate (632 ha planted), Jorhat district, Upper Assam (~93% of production)

Orthodox tea — bought-leaf processing under 'Dhopatbari' brand (~7% of production; since 2012)

Revenue Model

Revenue is generated through sale of made tea at auction centres (primarily Guwahati Tea Auction Centre) and direct/private sales. Income streams include both estate-grown Heeleakah tea and bought-leaf processed Dhopatbari tea.

Detailed Analysis

Growth outlookExpansion plans, industry tailwinds & headwinds6

Growth Plans

Growing global demand for Assam single-origin teas could benefit the Heeleakah brand

Expansion of bought-leaf processing under Dhopatbari to increase throughput

Industry Tailwinds

Growing global demand for Assam single-origin teas could benefit the Heeleakah brand

Expansion of bought-leaf processing under Dhopatbari to increase throughput

Recent Developments

FY2023: Revenue ₹42.03 Cr (−2.11%); profit −66.33% YoY; net worth ₹68.49 Cr (+4.75%)

9M FY2024: OPBDITA fell to ₹1.3 Cr (from ₹7.7 Cr) — operating pressure; net profit ₹12.5 Cr via fair-value investment gains

ICRA reaffirmed [ICRA]BBB+ (Stable) March 2024 despite margin decline

Comparable Companies

CompanyTypeTickerMkt Cap

McLeod Russel India Ltd.ListedMCLEODRUSS~500 Cr

Goodricke Group Ltd.ListedGOODRICKE~800 Cr

Warren Tea Ltd.ListedWARRNTEA~200 Cr

McLeod Russel India Ltd.Listed

MCLEODRUSS · ~500 Cr

Frequently Asked Questions

About Scottish Assam (India)

The Scottish Assam (India) Ltd. is a Kolkata-based tea company incorporated on December 27, 1977 and registered with the Registrar of Companies, Kolkata. The company's registered address is 1 Crooked Lane, Kolkata, West Bengal, India - 700069. Despite its name suggesting Scottish origins, the company is a fully Indian enterprise that has built its identity around premium Assam tea cultivation. The company operates the Heeleakah Tea Estate, a sprawling 950-hectare estate in Upper Assam. Heeleakah has become a well-known brand in the Indian premium tea segment, particularly among upper Assam teas which are prized for their bold, malty flavour profiles. Upper Assam teas from estates in the Dibrugarh, Tinsukia, and Jorhat districts are among the most sought-after in both domestic and international markets. In 2012, The Scottish Assam (India) Ltd expanded its product portfolio by commencing tea manufacturing from bought leaf, marketed under the brand 'Dhopatbari'. This strategic diversification allowed the company to increase throughput and sales without proportional increases in estate land ownership, leveraging the company's processing infrastructure and market relationships. The company has an authorised share capital of Rs 2 crore and paid-up capital of approximately Rs 80 lakh. For FY2023, the company reported revenue of Rs 42.03 crore with a net worth of Rs 68.49 crore — indicating a financially healthy balance sheet relative to revenues. Key directors include Shashi Kumar, Azam Monem, and Sanjay Ginodia. The Assam tea industry is the world's largest single tea-growing region, and Upper Assam estates like Heeleakah command significant premiums for their distinctive character. As global demand for premium Indian teas grows, particularly in Europe, the Middle East, and North America, companies like Scottish Assam with established estate brands are well-positioned to capture value from the specialty tea segment.

Key Milestones

1977 — Incorporated (27 September 1977) in Kolkata; acquired Heeleakah Tea Estate (~950 ha), Jorhat, Upper Assam

Common questions about unlisted shares

How do I buy Scottish Assam (India) unlisted shares here?
Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.
Who am I actually transacting with?
You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.
How do I pay, and is there a payment gateway?

The Scottish Assam (India) Ltd.

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