Indo Farm Equipment IPO subscribed overall 227.67 times on the last day, while a retail quota was subscribed 101.79 times and QIB was 242.4 and NII 501.75 respectively.
Details About Indo Farm Equipment IPO
Indo Farm Equipment got approval from SEBI for an IPO of ₹260.15 crores to raise funds and maintain financial stability. The face value of each share was Rs 10 each. Moreover, the company has set up a price band between ₹204 to ₹215 per share. In this IPO total of 69 shares were available in 1 lot size for the minimum Retail category and for the maximum retail category 897 shares in 13 lot size. S-HNI (Min) has a total of 966 shares in 14 lot sizes, while B-HNI Minimum has a total of 4,692 shares available in 68 lot sizes.
To invest in this IPO, each investor category has specific investment amounts:
- Retail Investors: Minimum investment of ₹14,835 and maximum investment of ₹1,92,855.
- Small HNI (S-HNI): Minimum investment of ₹2,07,690.
- Big HNI (S-HNI): Minimum investment of ₹10,08,780.
Subscription duration of Indo Farm Equipment IPO
The opening date of Indo Farm Equipment IPO was December 31, 2024, and the closing date was January 2, 2025. The allotment of Indo Farm Equipment IPO was finalized on January 3, 2025, while the IPO listing was on January 7, 2025.
Funds Deployment of This Company
The company plans to use the money raised from the new shares for the following purposes:
- The company decided to use the raised funds to establish new units for the extension of their Pick & Carry Cranes Manufacturing Capacity.
- Using funds to pay, and repay, loans and debts the company has taken before.
- Additional investment in NBFC Subsidiary (Barota Finance Ltd.) to strengthen its capital base to meet future needs.
- At last, the remaining funds will be used to complete the General corporate purposes.
About Indo Farm Equipment IPO
Indo Farm Equipment Limited was founded in 1994 and engaged in the business of producing tractors, pick-and-carry cranes, and various types of machinery that can help in harvesting crops. They sell their products domestically and internationally, like in Nepal, Syria, Sudan, Bangladesh, and Myanmar. They produce tractors ranging from 16 HP to 110 HP and pick & carry cranes from 9 to 30 tons. They have a factory in Baddi, Himachal Pradesh, that covers 127,840 square meters and has a foundry, machine shop, and assembly units. Moreover, they also make 12,000 tractors and 720 cranes each year. Nowadays they are well known as skilled manufacturers and also plan to expand operations and enhance the visibility of their business. Further, it also has unique strategies like experienced and qualified management, an in-house NBFC setup, and a wide range of products manufactured. Indo Farm Equipment Limited’s revenue grew by 5.45%, and its profit after tax increased by 13.45% from 2022 to 2023.
Indo Farm Equipment IPO Financial Background
In the Fiscal year 2023, Indo Farm Equipment IPO generated revenue of ₹370.76 crores against ₹352.08 crore in 2022. In FY23, the company generated a profit of ₹15.56 crores, against ₹13.72 crores of profit in 2022.
