Indo Farm Equipment Limited will finalise the allotment of its Initial Public Offering (IPO) on Friday, January 3. The company’s shares are scheduled to debut on the National Stock Exchange (NSE) and BSE on January 7. The Indo Farm Equipment IPO, open for subscription from December 31 to January 2, witnessed big demand, with subscription of 227.57 times by the end of the final day. The price band was at ₹204-215 per share.
On the final day of bidding, the Non-Institutional Investors (NIIs) segment saw an overwhelming response with a subscription of 501.65 times, while the Qualified Institutional Buyers (QIBs) segment was subscribed 242.40 times. Retail investors shows significant interest, subscribing to 101.64 times.
Latest data shows GMP trending at Rs 96.
IPO Details: Indo Farm Equipment
Indo Farm Equipment raised ₹78.04 crore through its anchor book from 11 institutional investors before the IPO launch.
The Indo Farm Equipment IPO comprised an Offer for Sale (OFS) of 35 lakh shares and a fresh issue of ₹185 crore, totalling ₹260 crore.
The funds raised from Indo Farm Equipment’s IPO will be utilised for various purposes. ₹50 crore will be allocated for the repayment or prepayment of loans, while ₹45 crore will be invested in its subsidiary in NBFC sector, Barota Finance, to boost its capital base for future growth. Remaining capital will be used for general corporate expenditure, supporting the company’s overall business plans.
How to Check Indo Farm Equipment IPO Allotment Status
Investors can verify their allotment status through the BSE website.
Steps to check Indo Farm Equipment IPO on the BSE website:
1. Visit the BSE IPO allotment page.
2. Select ‘Equity’ as the issue type.
3. Choose ‘Indo Farm Equipment’ from the dropdown menu.
4. Enter your application number or PAN.
5. Click ‘Search’ to view your status.
About the Company
Indo Farm Equipment was founded in 1994, now a leading manufacturer of tractors and pick-and-carry cranes. It produces other agricultural equipment, including Harvester Combines, Rotovators, and related spares, although these contribute minimally to overall revenue. The company exports its products to multiple countries. For FY-2024, Indo Farm Equipment reported revenue of ₹375 crore and a net profit of ₹15.5 crore.