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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 ₹215.00 per share . The lot size for an application is 69. The minimum amount of investment required by an retail is ₹14,076 (69 shares). 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 Date | December 31, 2024 to January 2, 2025 |
| Listing Date | January 7, 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹204 to ₹215 per share |
| Issue Price Final | ₹215 per share |
| Lot Size | 69 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,21,00,000 shares (aggregating up to ₹260.15 Cr) |
| Fresh Issue | 86,00,000 shares (aggregating up to ₹184.90 Cr) |
| Offer for Sale | 35,00,000 shares of ₹10 (aggregating up to ₹75.25 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 3,94,51,600 shares |
| Share Holding Post Issue | 4,80,51,600 shares |
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, 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 | Maximum 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%) |
Indo Farm Equipment IPO raises ₹78.05 crore from anchor investors. Indo Farm Equipment IPO Anchor bid date is December 30, 2024. Indo Farm Equipment IPO Anchor Investors list
| Bid Date | December 30, 2024 |
| Shares Offered | 36,30,000 |
| Anchor Portion Size (In Cr.) | 78.05 |
| Anchor lock-in period end date for 50% shares (30 Days) | February 2, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | April 2, 2025 |
Indo Farm Equipment IPO opens on December 31, 2024, and closes on January 2, 2025.
| IPO Open Date | Tue, Dec 31, 2024 |
| IPO Close Date | Thu, Jan 2, 2025 |
| Tentative Allotment | Fri, Jan 3, 2025 |
| Initiation of Refunds | Mon, Jan 6, 2025 |
| Credit of Shares to Demat | Mon, Jan 6, 2025 |
| Tentative Listing Date | Tue, Jan 7, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Jan 2, 2025 |
Investors can bid for a minimum of 69 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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:
Indo Farm Equipment Limited's revenue increased by 1% and profit after tax (PAT) rose by 1% between the financial year ending with March 31, 2024 and March 31, 2023.
| 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 | 15.6 | 15.37 | 13.72 |
| Net Worth | 342.25 | 317.06 | 290.37 | 274.8 |
| Total Borrowing | 245.36 | 270.54 | 280.65 | 275 |
| Amount in ₹ Crore | ||||
The market capitalization of Indo Farm Equipment IPO is ₹1033.11 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| 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 Rs | 3.95 | 2.04 |
| P/E (x) | 54.39 | 105.25 |
The Objects of the Net Fresh Issue is to raise funds for:
[Dilip Davda] The company is fully integrated tractor and pick and carry cranes and, farm equipment manufacturer. The company marked almost static top and bottom lines for FY23 and FY24. It is in the expansion mode for its pick and carry cranes capacities to meet rising demands. Its Net Debt/EBITDA Ratio of 18.82 as of June 2024 raises concern. Based on recent financial numbers, the issue appears aggressively priced. Considering bright prospects for agriculture segment, well-informed investors may park moderate funds for long term. Read detail review...
| Listing Date | January 7, 2025 |
| BSE Script Code | 544328 |
| NSE Symbol | INDOFARM |
| ISIN | INE622H01018 |
| Final Issue Price | ₹215 per share |
| NSE Listing Group | EQ (Rolling) |
| BSE Listing Group | B |
Indo Farm Equipment Ltd.
SCO 859,
NAC Manimajra Kalka Road,
Chandigarh, Chandigarh, 160101
Phone: 0172-2730060
Email: compliance@indofarm.in
Website: https://www.indofarm.in/
MAS Services Ltd.
Phone: (011) 2610 4142
Email: ipo@masserv.com
Website: https://www.masserv.com/opt.asp
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 ₹260.15 Crores. The issue is priced at ₹215 per share. The minimum order quantity is 69.
The IPO opens on December 31, 2024, and closes on January 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 December 31, 2024 and closes on January 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 Monday, January 6, 2025. Check the Indo Farm Equipment IPO allotment status.
The Indo Farm Equipment IPO listing date is on Tuesday, January 7, 2025.
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