Indo Farm Equipment IPO: Check Date, Issue Size, Price Band And Listing Details

In Business
December 24, 2024
Indo Farm Equipment IPO: Check Date, Issue Size, Price Band And Listing Details


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Indo Farm Equipment is launching its IPO, offering fresh as well as shares via OFS.

Check All Details About Indo Farm Equipment IPO

Indo Farm Equipment is gearing up to launch its much-anticipated initial public offering (IPO), offering investors an opportunity to be part of its growth story. The upcoming IPO, set to open later this month, marks a significant milestone for the company as it aims to strengthen its position in the manufacturing and agricultural equipment sector.

Indo Farm Equipment Limited IPO Size

The IPO comprises a fresh issue of 86 lakh equity shares and an offer for sale (OFS) of 35 lakh shares by promoter Ranbir Singh Khadwalia.

Indo Farm Equipment Limited IPO Price

Indo Farm Equipment has fixed the price band for its IPO at Rs 204 to Rs 215 per share.

Indo Farm Equipment Limited IPO Date

The Rs 260-crore IPO will open for public subscription on December 31, 2024, and close on January 2, 2025. Bidding for anchor investors will take place on December 30.

Proceeds to Drive Expansion and Debt Repayment

Funds raised through the fresh issue will be used to set up a new unit dedicated to increasing the company’s pick-and-carry crane manufacturing capacity. Additionally, the proceeds will go toward debt repayment and investments in Barota Finance, the company’s NBFC subsidiary, to enhance its capital base for future requirements.

Investor Allocation and Listing Details

The issue allocates 50% of the shares to qualified institutional buyers (QIBs), 35% to retail investors, and 15% to non-institutional investors. Aryaman Financial Services is the sole book-running lead manager for the IPO. The equity shares are proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

Manufacturer of Tractors and Farm Equipment

Indo Farm Equipment specialises in manufacturing tractors, pick-and-carry cranes, and other agricultural equipment. At the upper end of the price band, the IPO is expected to give the company a market capitalisation of over Rs 1,000 crore.

(With PTI inputs)

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