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Indo Farm Equipment will launch its IPO on December 31, 2024, aiming to raise Rs 260.15 crore.
IPO to list on BSE and NSE on Jan 7, 2025, amid strong grey market demand.
Indo Farm Equipment, a prominent manufacturer of tractors and cranes, is set to launch its Initial Public Offering (IPO) on December 31, 2024. This IPO will be the last of the year and will close for subscription on January 2, 2025. The company is seeking to raise a total of Rs 260.15 crore through this offering.
The price band for Indo Farm Equipment’s IPO has been set between Rs 204 and Rs 215 per share. The IPO will involve the issuance of 86 lakh new shares, along with an Offer for Sale (OFS) of 35 lakh shares. The minimum investment for retail investors is Rs 14,835, which equates to one lot of 69 shares.
The IPO will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on January 7, 2025. The allotment process will be concluded by January 3. Aryaman Financial Services Ltd is serving as the book-running lead manager for the IPO, while MAS Services Ltd has been appointed as the registrar.
In the grey market, Indo Farm Equipment’s IPO is already showing strong demand, with shares trading at a premium of Rs 21 on December 24. This suggests that investors may see a potential profit of Rs 21 per share on listing day.
However, market experts adviced that investment decisions should be based on the company’s financial health and future prospects, rather than the trends in the grey market.
The funds raised through the IPO will be utilised for several strategic purposes. A significant portion will be used to set up a new dedicated unit for the manufacturing of pick-and-carry cranes. Additionally, part of the proceeds will go towards debt repayment, investment in the company’s NBFC subsidiary, Barota Finance, and for general corporate purposes.
IPO Allocation Details
- 50% of the IPO is reserved for Qualified Institutional Buyers (QIBs).
- 35% is reserved for retail investors.
- 15% is allocated for non-institutional investors (NIIs).
As with any investment, the IPO carries inherent market risks. Investors are urged to consult with certified financial advisors before making any investment decisions.
Disclamer: News18 will not be held responsible for any profits or losses incurred by investors.
