The Indo Farm Equipment IPO is a book-built issue worth ₹260.15 crores. This includes a fresh issue of 0.86 crore shares amounting to ₹184.90 crores and an offer for sale of 0.35 crore shares totaling ₹75.25 crores.
The IPO will open for subscription on December 31, 2024, and close on January 2, 2025. The allotment is expected to be finalized on January 3, 2025 (Friday), with the listing anticipated on January 7, 2025 (Tuesday) on both the BSE and NSE.
The price band for the IPO is set at ₹204 to ₹215 per share. The minimum application size is 69 shares, requiring a retail investor to invest at least ₹14,835. For sNII (Small Non-Institutional Investors), the minimum investment is 14 lots (966 shares) totaling ₹2,07,690, while for bNII (Big Non-Institutional Investors), it is 68 lots (4,692 shares) amounting to ₹10,08,780.
Aryaman Financial Services Limited is the book-running lead manager for the issue, and Mas Services Limited is the registrar.
For comprehensive details, investors are encouraged to refer to the Indo Farm Equipment IPO Red Herring Prospectus (RHP).
Indo Farm Equipment IPO Details
| IPO Date | December 31, 2024 to January 2, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹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 |
| Share Holding Pre Issue | 3,94,51,600 shares |
| Share Holding Post Issue | 4,80,51,600 shares |
Indo Farm Equipment IPO Timeline
The Indo Farm Equipment IPO is set to open for subscription on December 31, 2024, and will close 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 |
| 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 |
Indo Farm Equipment IPO Lot Size
Investors can bid for a minimum of 69 shares and in multiples thereafter. The table below outlines the minimum and maximum investment limits for retail investors and High Net Worth Individuals (HNIs) in terms of the number of shares and the corresponding investment amounts:
| 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 Reservation
| nvestor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
About Indo Farm Equipment Limited
Established in 1994, Indo Farm Equipment Limited is a leading manufacturer of tractors, pick-and-carry cranes, and other harvesting equipment. The company operates under two prominent brands, Indo Farm and Indo Power, and has a global presence with exports to countries like Nepal, Syria, Sudan, Bangladesh, and Myanmar.
Key Products and Capabilities:
- Tractors: Wide range from 16 HP to 110 HP
- Pick & Carry Cranes: Capacity ranging from 9 to 30 tons
- Annual Production Capacity:
- 12,000 tractors
- 1,280 pick-and-carry cranes
The company operates a state-of-the-art facility in Baddi, Himachal Pradesh, spanning over 127,840 sq. meters, featuring an in-house foundry, machine shop, and assembly units.
To meet growing demand, Indo Farm has also acquired additional industrial land near its current facility to establish a new unit. This expansion aims to boost crane production capacity by an additional 3,600 units annually.
Workforce
As of June 30, 2024, Indo Farm Equipment employs 938 talented professionals, ensuring efficient operations and high-quality manufacturing standards.
Indo Farm Equipment IPO FAQs
What is the Indo Farm Equipment IPO?
The Indo Farm Equipment IPO is a public issue comprising 1.21 crore shares, including fresh equity shares and an offer for sale.
When can I subscribe to the IPO?
The subscription window opens on December 31, 2024, and closes on January 2, 2025.
Where will the IPO be listed?
The shares will be listed on BSE and NSE.
What is the price band for the IPO?
The price band has not been announced yet. Stay tuned for updates closer to the opening date.
Who is managing the IPO?
The IPO is managed by Aryaman Financial Services Limited with Mas Services Limited serving as the registrar.
What is the company’s business focus?
Indo Farm Equipment Limited specializes in manufacturing tractors, pick-and-carry cranes, and other harvesting machinery, serving both domestic and international markets.
Where is the company’s manufacturing facility located?
The manufacturing unit is situated in Baddi, Himachal Pradesh, with plans for expansion to increase production capacity.
