Indo Farm Equipment IPO
GMP, Subscription, Price, Dates & Financial Details
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…
Open Date
Tue, 31 Dec 2024
Close Date
Thu, 02 Jan 2025
Price Band
₹ 204 – 215
Lot Size
69
Issue Size
₹ 260.15 Cr
Minimum Investment
₹ 14,835 (69 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Indo Farm Equipment IPO has successfully completed its IPO process and is now listed on the NSE and BSE. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹260.15 Crore, comprising a fresh issue of 86.00 Lakh equity shares aggregating to ₹184.90 Crore and an offer for sale (OFS) of 35.00 Lakh equity shares aggregating to ₹75.25 Crore by the existing shareholders.
The Indo Farm Equipment IPO remained open for subscription from December 31, 2024, to January 02, 2025. The basis of allotment was finalized on January 03, 2025, and the company's shares were listed on the NSE and BSE on January 07, 2025.
The company had fixed the price band at ₹204 to ₹215 per share, with a lot size of 69 shares. Retail investors were required to make a minimum investment of ₹14,835 (based on the upper price band) to apply for one lot.
Mas Services Limited served as the registrar to the issue. Aryaman Financial Services Limited acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Indo Farm Equipment Limited is now a publicly listed company on the NSE and BSE. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Indo Farm Equipment IPO Timeline (Tentative)
- IPO Open Date
- Tue, 31 Dec 24
- IPO Close Date
- Thu, 02 Jan 25
- Basis of Allotment
- Fri, 03 Jan 25
- Initiation of Refunds
- Mon, 06 Jan 25
- Credit of Shares to Demat
- Mon, 06 Jan 25
- Listing Date
- Tue, 07 Jan 25 — NSE & BSE
Open Date
31 December 2024
Close Date
02 January 2025
Basis Of Allotment
03 January 2025
Listing Date
07 January 2025
IPO Subscription
Check Live Subscription →The Indo Farm Equipment IPO has received bids for 1,93,49,77,074 shares against 84,70,000 shares offered, resulting in an overall subscription of 228.45x. the NII category is subscribed 502.42x, Retail Investors 103.07x, and QIBs 242.4x. Within the NII category, BNII is subscribed 548.13x, while SNII is subscribed 410.98x.
QIB
242.4x
NII
502.42x
BNII
548.13x
SNII
410.98x
RII
103.07x
Total
228.45x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 42,35,000 shares, representing 35% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 24,20,000 shares (20%), while Non-Institutional Investors (NIIs) receive 18,15,000 shares (15%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Anchor Investors | 3,630,000 | 30% |
| Qualified Institutions | 2,420,000 | 20% |
| Non-Institutional | 1,815,000 | 15% |
| BNII | 1,210,000 | 10% |
| SNII | 1,210,000 | 5% |
| Retail Investors | 4,235,000 | 35% |
| Total | 12,100,000 | 100% |
Financials Details(₹ 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 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Indo Farm Equipment Limited KPI Information
| Particular | KPI As on 31 Mar 2024 |
|---|---|
| ROE % | 5.13 |
| ROCE % | 8.96 |
| Debt / Equity | 0.01 |
| RoNW % | 4.92 |
| Pat Margin % | 4.16 |
Peers Comparison
No Peer Comparision Available
About Indo Farm Equipment Limited
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.
Indo Farm Equipment IPO Promoters
- RANBIR SINGH KHADWALIA
- SUNITA SAINI
Promoters Holding
Holding Pre Issue
93.45%
Holding Post Issue
69.44%
Indo Farm Equipment IPO Objective
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
Indo Farm Equipment Limited Address / Contact Details
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
Indo Farm Equipment IPO Lot Size
The Indo Farm Equipment IPO has a lot size of 69 shares. Retail investors require a minimum investment of ₹14,835 by applying for 1 lot (69 shares). The maximum application allowed for the retail category is 13 lots (897 shares), requiring an investment of ₹1,92,855.
| 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 |
Issue Reservation
- Anchor Investors — 30%
- QIB — 20%
- NII — 15%
- RII — 35%
Book Running Lead Managers
- Aryaman Financial Services Limited
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Indo Farm Equipment IPO?
Indo Farm Equipment IPO is a Book-building IPO with a total issue size of ₹260.15 crore. The Indo Farm Equipment IPO price band is ₹204 to 215 per share. The Indo Farm Equipment IPO subscription opens on Tue, Dec 31, 2024, and closes on Thu, Jan 2, 2025. The Indo Farm Equipment IPO will be listed on the BSE,NSE. Mas Services Limited is the registrar for the Indo Farm Equipment IPO.
When will the Indo Farm Equipment IPO open for subscription?
The Indo Farm Equipment IPO opens on Tue, Dec 31, 2024 and closes on Thu, Jan 2, 2025
What is Indo Farm Equipment IPO Price Band?
Indo Farm Equipment IPO Price Band is ₹204 to 215 per share.
What is Indo Farm Equipment IPO Lot Size?
Indo Farm Equipment IPO lot size is 69 shares, Retail investors need a minimum investment of ₹14835 based on the upper price band
What is the minimum investment for Indo Farm Equipment IPO?
The minimum investment for Indo Farm Equipment IPO is ₹14835, based on one lot of 69 shares at the upper price band of ₹215 per share.
How to apply for Indo Farm Equipment IPO?
Investors can apply for the Indo Farm Equipment IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Thu, Jan 2, 2025. The application amount remains blocked until the Indo Farm Equipment IPO allotment is finalized.
What is Indo Farm Equipment IPO Issue Size?
Indo Farm Equipment IPO issue size is ₹260.15 crores.
What is the Indo Farm Equipment IPO Allotment Date?
Indo Farm Equipment IPO allotment date is Fri, Jan 3, 2025.
Who is the Indo Farm Equipment IPO Registrar?
The registrar for Indo Farm Equipment IPO is Mas Services Limited. Investors can go to Mas Services Limited website to check Indo Farm Equipment IPO allotment status, refund processing, and other IPO-related information.
What is the Indo Farm Equipment IPO GMP?
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 35.35% over the issue price.
Who is the Indo Farm Equipment IPO Lead Manager?
The book-running lead managers (BRLMs) for the Indo Farm Equipment IPO are Aryaman Financial Services Limited. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Indo Farm Equipment IPO Red Herring Prospectus (RHP).