2 weeks Ago
The initial public offering (IPO) of Indo Farm Equipment received a healthy response from investors with an overall subscription of 54.55 times on the first two days of bidding. This was largely driven by retail and non-institutional investors.
The retail portion of the issue was subscribed at 45.76 times, while the issue was subscribed 131.84 times in the non-institutional investors category.
The allocation for qualified institutional bidders was booked 11.96 times. The IPO of the Chandigarh-based company consists of a fresh issue of up to 86 lakh equity shares and an offer for sale (OFS) of up to 35 lakh equity shares by Ranbir Singh Khadwalia, the promoter selling shareholder.
The company has undertaken a pre-IPO placement of 19 lakh equity shares at the rate of Rs 185 per share aggregating to Rs 35.1 crores. Accordingly, the size of the fresh issue has been reduced from 1.
05 crore equity shares to 86 lakh equity shares. Around Rs 50 crore of the amount raised from the IPO will be utilised for repayment or pre-payment, in full or part, of certain borrowings availed by the company, further investment in NBFC subsidiary (Barota Finance) for financing the augmentation of its capital base to meet its future capital requirements (Rs 45 crore) and the rest towards general corporate purposes. Stock Trading Masterclass on Value Investing and Company Valuation By - The Economic Times, Get Certified By India's Top Business News Brand View Program Stock Trading Market 104: Options Trading: Kickstart Your F&O Adventure By - Saketh R, Founder- QuickAlpha, Full Time Options Trader View Program Stock Trading Technical Analysis for Everyone - Technical Analysis Course By - Abhijit Paul, Technical Research Head, Fund Manager- ICICI Securities View Program Stock Trading Stock Markets Made Easy By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Renko Chart Patterns Made Easy By - Kaushik Akiwatkar, Derivative Trader and Investor View Program Stock Trading Market 101: An Insight into Trendlines and Momentum By - Rohit Srivastava, Founder- Indiacharts.
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GMP of Indo Farm Equipment Ahead of the listing, the company's shares were trading with a GMP of Rs 90 in the unlisted market, indicating a premium of nearly 42% over the upper end of the IPO price band of Rs 215. About Indo Farm Equipment Indo Farm Equipment is a more than two decade-old fully integrated established manufacturer of tractors and pick and carry cranes, with ancillary manufacturing of other farm equipment. The company currently manufactures Tractors ranging from 16 HP to 110 HP and Pick & Carry Cranes ranging from 9 tons to 30 tons.
It had an annual capacity to manufacture 12,000 tractors and 1,280 Pick & Carry Cranes, as on September 30, 2024. Indo Farm Equipment’s financials For FY24, the company’s revenue from operations was Rs 375.2 crore with a PAT of Rs 15.
5 crore. Indo Farm Equipment IPO’s listing and allotment date The IPO of Indo Farm Equipment opened for public subscription on December 31 and will be available to bid for till January 2. Meanwhile, the allotment for the IPO is expected to be finalised on January 3 and the listing of shares will be on January 7.
Lead managers and registrar Aryaman Financial Services Limited is the book-running lead manager to the issue. The equity shares are proposed to be listed on BSE and NSE. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own.
These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel ).
