Bookbuilding IPO | ₹260 Cr | Listed at BSE, NSE | Tue, Dec 31, 2024 - Thu, Jan 2, 2025
Indo Farm Equipment IPO is a book build issue of ₹260.15 crores. The issue is a combination of fresh issue of 0.86 crore shares aggregating to ₹184.90 crores and offer for sale of 0.35 crore shares aggregating to ₹75.25 crores.
Indo Farm Equipment IPO bidding started from Dec 31, 2024 and ended on Jan 2, 2025. The allotment for Indo Farm Equipment IPO was finalized on Jan 3, 2025. The shares got listed on BSE, NSE on Jan 7, 2025.
Indo Farm Equipment IPO price band is set at ₹215 per share. The lot size for an application is 69. The minimum amount of investment required by an retail is ₹14,835 (69 shares) (based on upper price). The lot size investment for sNII is 14 lots (966 shares), amounting to ₹2,07,690, and for bNII, it is 68 lots (4,692 shares), amounting to ₹10,08,780.
Aryaman Financial Services Ltd. is the book running lead manager and MAS Services Ltd. is the registrar of the issue.
Refer to Indo Farm Equipment IPO RHP for detailed Information.
IPO Open
Tue, Dec 31, 2024
IPO Close
Thu, Jan 2, 2025
Issue Price
₹215 per share
Market Cap (Pre-IPO)
₹1,033.11 Cr
| IPO Date | 31 Dec, 2024 to 2 Jan, 2025 |
| Listed on | Tue, Jan 7, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹204 to ₹215 |
| Issue Price | ₹215 per share |
| Lot Size | 69 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,21,00,000 shares (agg. up to ₹260 Cr) |
| Fresh Issue | 86,00,000 shares (agg. up to ₹185 Cr) |
| Offer for Sale | 35,00,000 shares of ₹10 (agg. up to ₹75 Cr) |
| Share Holding Pre Issue | 3,94,51,600 shares |
| Share Holding Post Issue | 4,80,51,600 shares |
| BSE Script Code / NSE Symbol | 544328 / INDOFARM |
| ISIN | INE622H01018 |
Indo Farm Equipment IPO offers total 1,21,00,000 shares. Out of which 60,50,000 (50.00%) allocated to QIB, 24,20,000 (20.00%) allocated to QIB (Ex- Anchor), 18,15,000 (15.00%) allocated to NII 42,35,000 (35.00%) allocated to RII and 36,30,000 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 60,50,000 (50.00%) | NA |
| − Anchor Investor Shares Offered | 36,30,000 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 24,20,000 (20.00%) | NA |
| NII (HNI) Shares Offered | 18,15,000 (15.00%) | NA |
| − bNII > ₹10L | 12,10,000 (10.00%) | 1,252 |
| − sNII < ₹10L | 6,05,000 (5.00%) | 626 |
| Retail Shares Offered | 42,35,000 (35.00%) | 61,376 |
| Total Shares Offered | 1,21,00,000 (100.00%) |
Investors can bid for a minimum of 69 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 69 | ₹14,835 |
| Retail (Max) | 13 | 897 | ₹1,92,855 |
| S-HNI (Min) | 14 | 966 | ₹2,07,690 |
| S-HNI (Max) | 67 | 4,623 | ₹9,93,945 |
| B-HNI (Min) | 68 | 4,692 | ₹10,08,780 |
Indo Farm Equipment IPO raises ₹78.05 crore from anchor investors. Indo Farm Equipment IPO Anchor bid date is December 30, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Dec 30, 2024 |
| Shares Offered | 36,30,000 |
| Anchor Portion (₹ Cr.) | 78.05 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Feb 2, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Apr 2, 2025 |
Incorporated in 1994, Indo Farm Equipment Limited is engaging in manufacturing Tractors, Pick & Carry Cranes, and other harvesting equipment.
The Company operates two brands: Indo Farm and Indo Power, They export their products to countries like Nepal, Syria, Sudan, Bangladesh, Myanmar, etc.
The Company manufactures tractors range 16 HP to 110 HP and pick & carry cranes range 9 to 30 tons. The facility in Baddi, Himachal Pradesh, spans 127,840 sq. meters and includes a foundry, machine shop, and assembly units. The Company has 12000 tractors and 1,280 Pick & Carry Cranes production capacity annually.
The Company spans 127,840 sq. meters of industrial land in Baddi, Himachal Pradesh, housing a captive foundry, machine shop, and fabrication and assembly units for tractors, pick & carry cranes, and other equipment.
They have acquired additional industrial land near the current facility to build a new pick & carry crane manufacturing unit, aiming to increase capacity by 3,600 units per year.
As of June 30, 2024, They had 938 employees on payroll.
Competitive Strengths:
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 644.27 | 647.95 | 622.84 | 619.83 |
| Total Income | 75.54 | 375.95 | 371.82 | 352.52 |
| Profit After Tax | 2.45 | 15.60 | 15.37 | 13.72 |
| NET Worth | 342.25 | 317.06 | 290.37 | 274.80 |
| Total Borrowing | 245.36 | 270.54 | 280.65 | 275.00 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Setting up new Dedicated Unit for Expansion of the Pick & Carry Cranes Manufacturing Capacity | 71.13 |
| 2 | Repayment or pre-payment, in full or part, of certain borrowings availed by the Company | 50.00 |
| 3 | Further Investment in our NBFC Subsidiary (Barota Finance Ltd.) for financing the augmentation of its capital base to meet its future capital requirements. | 45.00 |
| 4 | General Corporate Purposes | 2.99 |
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 5.13% |
| ROCE | 8.96% |
| Debt/Equity | 0.85 |
| RoNW | 4.92% |
| PAT Margin | 4.16% |
| Price to Book Value | 2.55 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 3.95 | 2.04 |
| P/E (x) | 54.39 | 105.25 |
| Promoter Holding | 93.45% | 69.44% |
| Market Cap | ₹1,033.11 Cr. |
The Indo Farm Equipment IPO is subscribed 227.67 times on January 2, 2025 6:19:08 PM (Day 3). The public issue subscribed 101.79 times in the retail category, 242.4 times in the QIB category, and 501.75 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 242.4 | 24,20,000 | 58,65,97,014 |
| NII | 501.75 | 18,15,000 | 91,06,72,557 |
| bNII (bids above ₹10L) | 548.13 | 12,10,000 | 66,32,41,938 |
| sNII (bids below ₹10L) | 408.98 | 6,05,000 | 24,74,30,619 |
| Retail | 101.79 | 42,35,000 | 43,10,70,393 |
| Total | 227.67 | 84,70,000 | 1,92,83,39,964 |
Total Application : 54,16,440
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLM and Legal Advisors (including commission, as applicable) | 7.87 |
| 2 | Commission/processing fee for SCSBs, Banker(s) to the Offer and fee payable to the Sponsor Bank for Bids made by RIIs and Eligible Employees. Brokerage, underwriting commission and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 3.14 |
| 3 | Listing fees, SEBI filing fees, Upload fees, BSE and NSE processing fees, Book Building Software fees, Registrar to the Offer, Depository Fees and other regulatory expenses | 5.17 |
| 4 | Fees payable for Industry Report, Monitoring Agency | 0.20 |
| 5 | Printing and Distribution Expenses | 0.45 |
| 6 | Advertising and Marketing Expenses | 6.66 |
| 7 | Fees payable to others & miscellaneous expenses | 0.20 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹215.00 | ₹215.00 |
| Open | ₹258.40 | ₹256.00 |
| Low | ₹257.95 | ₹256.00 |
| High | ₹286.90 | ₹287.00 |
| Last Trade | ₹272.70 | ₹273.69 |
Lead Manager Reports
Indo Farm Equipment IPO is a main-board IPO of 1,21,00,000 equity shares of the face value of ₹10 aggregating up to ₹260 Crores. The issue is priced at ₹215 per share. The minimum order quantity is 69.
The IPO opens on Tue, Dec 31, 2024, and closes on Thu, Jan 2, 2025.
MAS Services Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Indo Farm Equipment IPO using UPI as a payment gateway. Zerodha customers can apply in Indo Farm Equipment IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Indo Farm Equipment IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Indo Farm Equipment IPO opens on Tue, Dec 31, 2024 and closes on Thu, Jan 2, 2025.
Indo Farm Equipment IPO lot size is 69, and the minimum amount required for application is ₹14,835.
You can apply in Indo Farm Equipment IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Indo Farm Equipment IPO will be done on Friday, January 3, 2025, and the allotted shares will be credited to your demat account by Mon, Jan 6, 2025. Check the Indo Farm Equipment IPO allotment status.
The Indo Farm Equipment IPO listing date is on Tue, Jan 7, 2025.
