The Indo Farm Equipment IPO is a Rs 260.15 crore book-built offering. The offering consists of an offer to sell 0.35 crore shares worth Rs 75.25 crores and a new issue of 0.86 crore shares worth Rs 184.90 crores.
Subscriptions for the Indo Farm Equipment IPO will be accepted starting on December 31, 2024, and will end on January 2, 2025. On Friday, January 3, 2025, the allocation for the Indo Farm Equipment IPO is anticipated to be finalized. The anticipated listing date for the Indo Farm Equipment IPO is set for Tuesday, January 7, 2025, and it will be listed on the BSE and NSE.
The price range for Indo Farm Equipment’s IPO is ₹204 to ₹215 per share. An application must have a minimum lot size of 69. Retail investors must make a minimum investment of ₹14,835. For bNII, the minimum lot size investment is 68 lots (4,692 shares), which is ₹10,08,780, and for sNII, it is 14 lots (966 shares), which is ₹2,07,690.
The Indo Farm Equipment IPO’s book running lead manager is Aryaman Financial Services Limited, while the issue’s registrar is Mas Services Limited.
Indo Farm Equipment IPO Details
| IPO Date | December 31, 2024 to January 2, 2025 |
| Listing Date | [.] |
| 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 (Tentative Schedule)
Indo Farm Equipment IPO 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 |
| 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 Reservation
| Investor 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 |
Indo Farm Equipment IPO Promoter Holding
Ranbir Singh Khadwalia and Sunita Saini are the promoters of the company.
| Share Holding Pre Issue | 93.45% |
| Share Holding Post Issue | 69.44% |
Indo Farm Equipment Limited
Indo Farm Equipment Limited, founded in 1994, manufactures tractors, pick and carry cranes, and other harvesting equipment.
The company operates two brands: Indo Farm and Indo Power, and its products are exported to nations such as Nepal, Syria, Sudan, Bangladesh, and Myanmar.
The company manufactures tractors with horsepower ranging from 16 to 110, as well as pick and carry cranes with capacities ranging from 9 to 30 tons. The complex at Baddi, Himachal Pradesh, covers 127,840 square meters and houses a foundry, machine shop, and assembly facilities. The company has an annual production capacity of 12000 tractors and 1,280 pick-and-carry cranes.
The Company occupies 127,840 square meters of industrial land in Baddi, Himachal Pradesh, and operates a captive foundry, machine shop, and fabrication and assembly operations for tractors, pick-and-carry cranes, and other equipment.
They have purchased more industrial space near the current site to build a new pick-and-carry crane production unit, with the goal of increasing capacity by 3,600 units per year.
Company Finances
Indo Farm Equipment Limited Financial Information (Restated Consolidated)
Indo Farm Equipment Limited’s revenue and profit after tax (PAT) increased by 1% during the fiscal years ended 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 |
| 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 |
Key Performance Indicator
The market valuation of the Indo Farm Equipment IPO is Rs 1033.11 crore.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| ROE | 5.13% |
| ROCE | 8.96% |
| Debt/Equity | 0.01 |
| RoNW | 4.92% |
| PAT Margin | 4.16 |
| Price to Book Value | 2.55 |
Objects of the Issue (Indian Farm Equipment IPO Objectives)
The Net Fresh Issue aims to collect donations for:
Establishing a new dedicated unit to expand their pick and carry crane manufacturing capacity.
The Company may repay or pre-pay certain borrowings in full or in part. Additionally, it may invest in an NBFC subsidiary (Barota Finance Ltd.) to increase its capital base for future needs.
General corporate purposes.
Review of Indo Farm Equipment’s IPO (may apply)
[Dilip Davda]. The company manufactures fully integrated tractor and pick-and-carry cranes, as well as farm equipment. For fiscal years 23 and 24, the company’s top and bottom lines remained mostly unchanged. It is expanding its pick-and-carry crane capacity to satisfy increased demand. As of June 2024, its Net Debt/EBITDA Ratio was 18.82, which is cause for concern. According to recent financial data, the issue appears to be priced aggressively. Given the agricultural sector’s promising prospects, well-informed investors may consider investing moderately for the long term.
Indo Farm Equipment Limited Contact Details
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 Equipment IPO Registrar
Mas Services Limited
Phone: (011) 2610 4142
Email: ipo@masserv.com
Website: https://www.masserv.com/opt.asp
Indo Farm Equipment IPO FAQs
What is the Indo Farm Equipment Initial Public Offering (IPO)?
Indo Farm Equipment IPO is a main-board IPO of 12100000 equity shares with a face value of ₹10, totaling up to ₹260.15 crores. The issue is priced between ₹204 and ₹215 per share. The minimum order quantity is 69.
The IPO begins on December 31, 2024 and ends on January 2, 2025.
The registrar for the initial public offering is Mas Services Limited. The shares are proposed to be listed on the BSE and NSE.
How to apply for the Indo Farm Equipment IPO through Zerodha?
Zerodha users can apply online for the Indo Farm Equipment IPO utilizing UPI as a payment method. Zerodha users can apply for the Indo Farm Equipment IPO by logging into the Zerodha Console (back office) and completing the IPO application form.
Steps to apply for the Indo Farm Equipment IPO through Zerodha
- Visit the Zerodha website and log in to Console.
- Go to Portfolio and select the IPOs link.
- Navigate to the ‘Indo Farm Equipment IPO’ row and hit the ‘Bid’ button.
- Please provide your UPI ID, quantity, and price.
- Submit the IPO application form.
- To approve the mandate, go to the UPI App (Net Banking or BHIM).
When Indo Farm Equipment IPO will open?
The Indo Farm Equipment IPO launches on December 31, 2024 and concludes on January 2, 2025.
What is the lot size for the Indo Farm Equipment IPO?
Indo Farm Equipment’s IPO lot size is 69, and the minimum amount required is ₹14,835.
