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Indo Farm Equipment IPO

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BSE,NSE 31 December - 02 January 2025
Indo Farm Equipment Limited IPO is a book build issue of 260.15 Cr. The issue is a combination of fresh issue of 8600000 shares aggregating to 184.9 Cr and offer for sale of 3500000 shares aggregating to 75.25 Cr. Indo Farm Equipment Limited IPO opened for subscription on Dec 31, 2024 and closed on Jan 02, 2025. The allotment for the this IPO was finalized on Jan 03, 2025. IPO was listed on NSE and BSE on Jan 07, 2025. Indo Farm Equipment Limited IPO is set issue price band at ₹204 to ₹215 per share.

Current GMP

₹76 (+35.35%)

Price Band

₹ 204 – 215

Lot Size

69

Issue Size

₹260.15 Cr

Minimum Investment

₹14835 (69 Shares)

Listing Date

07 January 2025

Subscription

228.45x

About the Company

Indo Farm Equipment Limited, established in 1994, is a fully integrated manufacturer specializing in tractors and Pick & Carry Cranes. The company also produces farm equipment such as harvester combines, rotavators, and various related components. With a strong presence in both domestic and international markets, Indo Farm generates around 93% of its sales from India and 7% from exports.

The company operates ISO 9001:2015 certified facilities covering 127,840 square meters in Baddi, Himachal Pradesh, which include a captive foundry, machine shop, and assembly units for its products. Their in-house manufacturing of critical components allows for better control over costs, quality, and delivery timelines.

Indo Farm produces tractors ranging from 16 HP to 110 HP and Pick & Carry Cranes from 9 tons to 30 tons. Their facilities have a production capacity of 12,000 tractors and 1,280 cranes per year, with plans for further expansion. The company also has an in-house non-banking financial company (NBFC), Barota Finance Limited, to support customer financing.

With a proven track record of profitability and a workforce of nearly 1,000 employees, Indo Farm’s success is attributed to its integrated operations, experienced management, and a diverse product range that caters to agriculture, infrastructure, and construction sectors. The company exports to several countries and has a strong market presence supported by financial institutions offering retail financing for its products.

Indo Farm Equipment Limited's competitive strengths include:

  1. Fully Integrated Manufacturing Setup: The company operates ISO 9001:2015 certified facilities in Baddi, Himachal Pradesh, with a captive foundry and dedicated production units for tractors and cranes. In-house manufacturing of critical components, such as engine parts and hydraulic systems, enables better control over costs, quality, and production timelines.
  2. Experienced Management: The company's leadership, led by Chairman Mr. Ranbir Singh Khadwalia, has over three decades of industry experience. The management team, including his sons, brings expertise in operations, marketing, and business development, ensuring the company remains responsive to market trends and customer needs.
  3. In-House NBFC Setup: In 2017, Indo Farm launched Barota Finance Limited, an NBFC that offers tractor financing to customers. The NBFC has a strong asset quality with a loan book of ₹1,271.55 million, serving over 5,900 customers.
  4. Diverse Product Range: Indo Farm manufactures tractors (16 HP to 110 HP) and Pick & Carry Cranes (9 tons to 30 tons). Its tractors cater to both domestic and international markets, while the cranes meet the demands of construction and infrastructure industries, providing safety, productivity, and cost efficiency.
  5. Global Presence and Financial Support: Exports contribute 7% of sales, with the company having a presence in various countries across Africa, Asia, Europe, and the Middle East. A wide variety of financial institutions, including leading private and public sector banks, support product financing, enhancing accessibility for customers.

Promoters

  1. RANBIR SINGH KHADWALIA 
  2. SUNITA SAINI
Promoters Holding

Holding Pre Issue

93.45%

Holding Post Issue

69.44%

Objects of the Issue

Offer for Sale
Company will not receive any proceeds from the Offer for Sale by the Promoter Selling Shareholders and the proceeds received from the Offer for Sale will not form part of the Net Proceeds.

Net Fresh Issue
The Objects of the Net Fresh Issue is to raise funds 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 availed by the Company
  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


Address / Contact Info

Indo Farm Equipment Limited
SCO 859N.A.C Manimajra 
Kalka Road Chandigarh 160101

Phone: 0172-2730060
Email: compliance@indofarm.in
Website: https://www.indofarm.in/

IPO Snapshot

Face Value₹10 per share
Price Band₹ 204 – 215
Lot Size69
Issue TypeBook-building IPO
Sale Type
Fresh Issue₹ 184.90 Cr
Offer for Sale₹ 75.25 Cr
Total Issue Size₹ 260.15 Cr
Listing AtBSE,NSE
Industry
Sector
QIB Quota20%
BNII Quota10%
SNII Quota5%
Retail Quota35%

Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.

Frequently Asked Questions

Everything you need to know before applying to an IPO.

Indo Farm Equipment IPO is a Book-building IPO worth ₹260.15 crores. The price band is ₹204 to 215 per share. The IPO opens on Tue, Dec 31, 2024 and closes on Thu, Jan 2, 2025. It will be listed on BSE and NSE. Mas Services Limited is the registrar.

The Indo Farm Equipment IPO opens on Tue, Dec 31, 2024 and closes on Thu, Jan 2, 2025

Indo Farm Equipment IPO Price Band is ₹204 to 215.

Indo Farm Equipment IPO lot size is 69, and the minimum amount required for application is ₹14835.

The minimum investment for Indo Farm Equipment IPO is approximately ₹14835 based on the upper price band.

To apply for the Indo Farm Equipment IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Thu, Jan 2, 2025. After submission, funds are blocked until the basis of allotment of Indo Farm Equipment IPO is finalised.

Indo Farm Equipment IPO issue size is ₹260.15 crores.

Indo Farm Equipment IPO allotment date is Sat, Jun 27, 2026.

The registrar for Indo Farm Equipment IPO is Mas Services Limited. Investors can go to Mas Services Limited website for IPO allotment status, refund processing, and other queries related to Indo Farm Equipment IPO through their official website or helpline.

The Indo Farm Equipment IPO GMP (Grey Market Premium) is ₹76 as of Tue, Jan 7, 2025. Based on the upper price band of ₹215 per share, the estimated Indo Farm Equipment IPO listing price is ₹291, indicating a potential listing gain of approximately 31% over the issue price.