Key Things to Know Ahead of Indo Farm Equipment IPO Listing

The ₹260.15 crore Indo Farm Equipment IPO is all set to list on stock exchanges tomorrow, January 7, 2024. The IPO opened for bidding on December 31, 2024 and ended on January 2, 2025. This IPO is a combination of a fresh issue of 0.86 crore shares aggregating to ₹184.90 crore and an offer for sale of 0.35 crore shares aggregating to ₹75.25 crore.

Indo Farm Equipment IPO Subscription

Indo Farm Equipment IPO recorded a total subscription of 229.68x on the last day of bidding. The qualified institutional buyers(QIBs) portion was booked 242.40x while the Non-Institutional Investors (NII) subscription reached 503.83x and the retail portion of IPO was subscribed to 104.92x as of January 2, 2025.

Purpose of Indo Farm IPO

The company has decided to use the net fresh issue proceeds for the following:

• Establishing a new dedicated unit for expansion of their Pick & Carry Cranes manufacturing capacity
• Repayment or pre-payment of borrowings
• Further Investment in NBFC Subsidiary (Barota Finance Ltd.)
• General Corporate Purposes

About Indo Farm Equipment Limited

Founded in 1994, Indo Farm Equipment Limited specialises in the manufacturing of tractors, pick-and-carry cranes, and other harvesting machinery. The company operates under two brands: Indo Farm and Indo Power, exporting products to countries such as Nepal, Syria, Sudan, Bangladesh, Myanmar, and more. Indo Farm produces tractors with horsepower ranging from 16 HP to 110 HP, as well as pick-and-carry cranes with capacities ranging from 9 to 30 tons.

To expand capacity, Indo Farm has acquired additional industrial land adjacent to its existing facility for a new pick-and-carry crane manufacturing unit, which will increase production by 3,600 units per year.

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