Indo Farm IPO
IPO Listing Details
- Listing Date
07 Jan 2025
- Listing Price
₹258.40
- Listing Change
20.19%
- Last Traded Price
₹253.16
IPO Details
- Open Date
31 Dec 2024
- Close Date
02 Jan 2025
- IPO
Price Range
₹ 204 to ₹ 215
- IPO
Size
₹ 260.15 Cr
- Listing Exchange
BSE, NSE
- Listing Date
07 Jan 2025
IPO Timeline
Indo Farm IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 31-Dec-24 | 8.1 | 28.66 | 18.78 | 17.85 |
| 1-Jan-25 | 11.96 | 131.85 | 45.78 | 54.56 |
| 2-Jan-25 | 242.4 | 501.75 | 101.79 | 227.67 |
Last Updated: 02 January 2025 6:50 PM by 5Paisa
Indo Farm Equipment IPO is set to open on 31 December 2024 and will close on 2 January 2025. Indo Farm Equipment specializes in manufacturing tractors, pick-and-carry cranes, and harvesting equipment.
The IPO is a combined issue consisting of a fresh issue of 0.86 Cr shares aggregating to ₹184.90 Cr and an offer for sale of 0.35 Cr shares aggregating to ₹75.25 Cr. The price range is set at ₹204 to ₹215 per share and the lot size is 69 shares.
The allotment is scheduled to be finalised on 3 January 2025. It will go public on BSE NSE, with a tentative listing date of 7 January 2025.
Aryaman Financial Services Ltd. is the book running lead manager, while Mas Services Ltd is the registrar.
Indo Farm IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹260.15 Cr. |
| Offer For Sale | ₹75.25 Cr. |
| Fresh Issue | ₹184.90 Cr. |
Indo Farm IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 69 | 14,076 |
| Retail (Max) | 13 | 897 | 182,988 |
| S-HNI (Min) | 14 | 966 | 197,064 |
| S-HNI (Max) | 67 | 4,623 | 943,092 |
| B-HNI (Min) | 68 | 4,692 | 957,168 |
Indo Farm IPO Reservation
| Investors Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Cr.)* |
|---|---|---|---|---|
| QIB | 242.4 | 24,20,000 | 58,65,97,014 | 12,611.84 |
| NII (HNI) | 501.75 | 18,15,000 | 91,06,72,557 | 19,579.46 |
| Retail | 101.79 | 42,35,000 | 43,10,70,393 | 9,268.01 |
| Total** | 227.67 | 84,70,000 | 1,92,83,39,964 | 41,459.31 |
*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.
Indo Farm IPO Anchor Allocation
| Anchor Bid Date | 30 December, 2024 |
| Shares Offered | 36,30,000 |
| Anchor portion Size (In ₹ Cr.) | 78.05 |
| Anchor lock-in period end date for 50% shares (30 Days) | 2 February, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | 3 April, 2025 |
1. Setting up new Dedicated Unit for Expansion of their Pick & Carry Cranes Manufacturing Capacity
2. Repayment or pre-payment, in full or part, of certain borrowings.
3. Further Investment in NBFC Subsidiary (Barota Finance Ltd.) for financing the augmentation of its capital base to meet its future capital requirements.
4. General Corporate Purposes
Incorporated in 1994, Indo Farm Equipment Limited specializes in manufacturing tractors, pick-and-carry cranes, and harvesting equipment. The company operates under two brands, Indo Farm and Indo Power, exporting its products to countries like Nepal, Syria, Sudan, Bangladesh, and Myanmar. Its production facility, located in Baddi, Himachal Pradesh, spans 127,840 sq. meters and houses a foundry, machine shop, and assembly units. With an annual capacity to produce 12,000 tractors and 720 pick-and-carry cranes, the company plans to expand by adding a new manufacturing unit nearby, aiming to boost crane production by 3,600 units annually.
Indo Farm’s competitive strengths include a fully integrated manufacturing setup, an experienced management team, and a diverse product portfolio ranging from 16 HP to 110 HP tractors and 9 to 30-ton cranes. The company also operates an in-house NBFC, enhancing its market presence and customer reach across multiple countries and financial institutions. It employed 886 staff as of June 2023.
Peers
| Particulars (in Rs. Crores) | FY22 | FY23 | FY24 |
|---|---|---|---|
| Revenue | 352.61 | 371.82 | 375.95 |
| EBITDA | 13.72 | 58.72 | 62.52 |
| PAT | 13.72 | 15.37 | 15.60 |
| Particulars (in Rs. Crores) | FY22 | FY23 | FY24 |
|---|---|---|---|
| Total Assets | 619.83 | 622.84 | 647.95 |
| Share Capital | 18.78 | 18.78 | 37.55 |
| Total Borrowings | 275.00 | 280.65 | 270.54 |
| Particulars (in Rs. Crores) | FY22 | FY23 | FY24 |
|---|---|---|---|
| Net Cash Generated From / (used in) operating activities | 9.98 | 30.18 | 40.59 |
| Net Cash Generated From / (used in) investing activities | -25.96 | -8.37 | -2.59 |
| Net Cash Generated From / (used in) financing activities | 16.40 | -21.99 | -25.70 |
| Net Increase (Decrease) In Cash And Cash Equivalents | 0.42 | -0.19 | 12.30 |
Strengths
1. Fully integrated manufacturing facility with advanced infrastructure.
2. Diverse product portfolio catering to multiple industries and markets.
3. Strong export presence in key international markets like Nepal and Myanmar.
4. Experienced management team ensuring strategic growth and operational efficiency.
5. In-house NBFC providing financial support for customers and dealers.
Risks
1. Limited geographic reach in domestic and global markets.
2. Dependence on agricultural demand, subject to seasonal fluctuations.
3. Relatively small production capacity compared to larger competitors.
4. High capital investment needed for expansion projects.
5. Vulnerability to raw material price fluctuations affecting profitability.
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FAQs
Indo Farm Equipment IPO opens from 31 December 2024 to 2 January 2025.
The size of Indo Farm Equipment IPO is ₹260.15 Cr.
The price of Indo Farm Equipment IPO is fixed at ₹204 to ₹215 per share.
To apply for Indo Farm Equipment IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Indo Farm Equipment IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The minimum lot size of Indo Farm Equipment IPO is 69 shares and the investment required is ₹14,076.
The share allotment date of Indo Farm Equipment IPO is 3 January 2025
The Indo Farm Equipment IPO will be listed on 7 January 2025.
Aryaman Financial Services Ltd. is the book running lead manager for Indo Farm Equipment IPO.
Indo Farm Equipment plans to utilise the raised capital from the IPO for:
1. Setting up new Dedicated Unit for Expansion of their Pick & Carry Cranes Manufacturing Capacity
2. Repayment or pre-payment, in full or part, of certain borrowings.
3. Further Investment in NBFC Subsidiary (Barota Finance Ltd.) for financing the augmentation of its capital base to meet its future capital requirements.
4. General Corporate Purposes
Contact Information
Indo Farm
Indo Farm Equipment Limited
SCO 859,
NAC Manimajra Kalka Road,
Chandigarh 160101
Phone: 0172-2730060
Email: compliance@indofarm.in
Website: https://www.indofarm.in/
Indo Farm IPO Register
Mas Services Limited
Phone: (011) 2610 4142
Email: ipo@masserv.com
Website: https://www.masserv.com/opt.asp
Indo Farm IPO Lead Manager
Aryaman Financial Services Limited
