Indo Farm Equipment IPO subscription started on Tuesday, December 31, and will close on January 2, 2025, as per the schedule. The price band is set at ₹204 to ₹215 per share with a face value of ₹10.
Indo Farm Equipment IPO Subscription Status
Indo Farm Equipment IPO Subscribed over 17.83x on its First day till 05.00 PM on 31st December.
- Indo Farm Equipment IPO subscription QIB investors portion is 8.1x times, while NII subscribed 28.64x times and RII investors subscribed 18.74x times.
- The company has received bids for 15,09,62,823 shares against 84,70,000 shares on offer on the First day.
- Indo Farm Equipment IPO Subscribed over 17.83x on day 1.
About Indo Farm Equipment IPO
Indo Farm Equipment Limited was established in 1994 and was involved in producing tractors, pick-and-carry cranes, and various types of machinery used for harvesting crops. It has two main brands: Indo Farm and Indo Power. They also sell their products, such as tractors and cranes, in countries like 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, it can produce 12,000 tractors and 720 cranes each year. They have built a reputation as a skilled manufacturer and also plan to expand operations and take business to the next level. Further, it also has unique strategies like experienced and qualified management, in-house NBFC setup, and a wide range of products manufactured.
Indo Farm Equipment IPO Company Financial Report
The company reported revenue of ₹370.76 crore in 2023 against ₹352.08 crore in 2022. The company reported a profit of ₹15.56 crores in 2023 against a profit of ₹13.72 crores in 2022.
Indo Farm Equipment IPO GMP:
Indo Farm Equipment IPO GMP was ₹85 as of Tuesday, December 31. That indicates the IPO is trading at ₹300 with ₹85 premium in the grey market against the issue price of ₹215.
