Indo Farm Equipment IPO
Open MainLineCurrent 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:
- 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.
- 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.
- 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.
- 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.
- 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
- RANBIR SINGH KHADWALIA
- 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:
- 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
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
IPO Timeline (Tentative)
IPO Open Date
Tuesday, 31 December 2024
IPO Close Date
Thursday, 02 January 2025
Basis of Allotment
Friday, 03 January 2025
Initiation of Refunds
Monday, 06 January 2025
Credit of Shares to Demat
Monday, 06 January 2025
Listing Date
Tuesday, 07 January 2025 — NSE & BSE
Important Dates
Open Date
31 December 2024
Close Date
02 January 2025
Basis Of Allotment
03 January 2025
Listing Date
07 January 2025
Financial Performance (₹ in Crores)
| Particular | 30 June 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 |
| Reserve & Surplus | 0 | 0 | 0 | 0 |
| Total Borrowings | 245.36 | 270.54 | 280.65 | 275 |
EPS Pre
3.95%
EPS Post
2.04%
P/E Pre
54.39
P/E (Post Issue)
105.25x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | KPI As on 31 Mar 2024 |
|---|---|
| ROE % | 5.13 |
| ROCE % | 8.96 |
| Debt / Equity | 0.01 |
| RoNW % | 4.92 |
| PbW | 0 |
| Pat Margin % | 4.16 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Anchor Investors | 3630000 | 30 | 0 |
| Qualified Institutions | 2420000 | 20 | 0 |
| Non-Institutional | 1815000 | 15 | 0 |
| BNII | 1210000 | 10 | 0 |
| SNII | 1210000 | 5 | 0 |
| Retail Investors | 4235000 | 35 | 0 |
| Total | 12100000 | 100 | 0 |
Subscription Status ( Thu, 02 Jan 25 01:09 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 2420000 | 586597014 | 242.4x |
| Non-Institutional | 1815000 | 911884818 | 502.42x |
| BNII | 1210000 | 663241938 | 548.13x |
| SNII | 605000 | 248642880 | 410.98x |
| Retail Investors | 4235000 | 436495242 | 103.07x |
| Total | 8470000 | 1934977074 | 228.45x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
No Peer Comparision Available
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 69 | 14,835.00 |
| Retail (Max) | 13 | 897 | 192,855.00 |
| S-HNI (Min) | 14 | 966 | 207,690.00 |
| S-HNI (Max) | 67 | 4,623 | 993,945.00 |
| B-HNI (Min) | 68 | 4,692 | 1,008,780.00 |
Book Running Lead Managers
- Aryaman Financial Services Limited
RHP Document
DRHP Document
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.