Indo Farm Equipment IPO

NiftyTrader • December 27, 2024

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Indo Farm Equipment IPO opens for subscription on December 31, 2024 and closes on January 2, 2025. The allotment for the Indo Farm Equipment IPO is expected to be finalized on Friday, January 3, 2025. Indo Farm Equipment IPO will list on BSE, NSE with tentative listing date fixed as Tuesday, January 7, 2025.

Indo Farm Equipment IPO price band is set at ₹204 to ₹215 per share. The minimum lot size for an application is 69. The minimum amount of investment required by retail investors is ₹14,835. The minimum 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.

Indo Farm Equipment IPO is a book built issue of Rs 260.15 crores. The issue is a combination of fresh issue of 0.86 crore shares aggregating to Rs 184.90 crores and offer for sale of 0.35 crore shares aggregating to Rs 75.25 crores.

Indo Farm Equipment IPO Details

IPO Date	December 31, 2024 to January 2, 2025
Listing Date	[.]
Face Value	₹10 per share
Price	₹204 to ₹215 per share
Lot Size	69 Shares
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	Book Built Issue IPO
Listing At	BSE, NSE
Shareholding pre-issue	3,94,51,600 shares
Share holding post issue	4,80,51,600 shares

Indo Farm Equipment IPO Lot Size

Investors can bid for a minimum of 69 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors 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

Indo Farm Equipment IPO Objectives

The Objects of the Net Fresh Issue is to raise funds for:

Setting up new Dedicated Unit for Expansion of their Pick & Carry Cranes Manufacturing Capacity
Repayment or pre-payment, in full or part, of certain borrowings availed by the Company
Further Investment in NBFC Subsidiary (Barota Finance Ltd.) for financing the augmentation of its capital base to meet its future capital requirements.
General Corporate Purposes

About Indo Farm Equipment

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:

Product acceptability in multiple countries and a wide variety of financial institutions

Fully Integrated and established Manufacturing Setup

Well Educated & Experienced Management

In-House NBFC Setup

Manufacturing Wide Range of Products

Indo Farm Equipment Financial Information

Period Ended	30 Sep 2024	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	509.27	647.95	622.84	619.83
Revenue	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

Indo Farm Equipment IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not more than 50% of the Net Offer
Retail Shares Offered	Not less than 35% of the Offer
NII (HNI) Shares Offered	Not less than 15% of the Net Offer

Indo Farm Equipment IPO Timeline (Tentative Schedule)

Indo Farm Equipment IPO opens on December 31, 2024, and closes on January 2, 2025.

IPO Open Date	Tuesday, December 31, 2024
IPO Close Date	Thursday, January 2, 2025
Basis of Allotment	Friday, January 3, 2025
Initiation of Refunds	Monday, January 6, 2025
A credit of Shares to Demat	Monday, January 6, 2025
Listing Date	Tuesday, January 7, 2025
Cut-off time for UPI mandate confirmation	5 PM on January 2, 2025