Indo Farm Equipment
CLOSEDIPO Date: 31 Dec - 2 Jan 2025
Listing Date: 7 Jan 2025
Price Range
₹204 to ₹215 per share
Issue Size
260 Cr
Min Investment
₹14,076
Lot Size
69 Shares
Schedule of Indo Farm Equipment
Issue open date
31 Dec 2024
Issue close date
2 Jan 2025
UPI mandate deadline
2 Jan 2025 (5 PM)
Allotment finalization
3 Jan 2025
Share credit
6 Jan 2025
Listing date
7 Jan 2025
Mandate end date
17 Jan 2025
Issue size
| Funds Raised in the IPO | Amount |
|---|---|
| Overall | 260 Cr |
| Fresh Issue | 184 Cr |
| Offer for Sale | 75 Cr |
Allotment DetailsNew
| Allotment Timeline | Details |
|---|---|
| Allotment Date | 3 Jan 2025 |
| Allotment Link | {Link} |
Grey Market PremiumNew
Grey Market Premium (GMP) is the premium at which the shares are traded in the grey market. It gives a fair idea about the listing price of the IPO shares. The GMP can be positive or negative based on the demand and supply of the shares in the grey market.
| Date | Ipo Price | GMP | Estimated Listing Price |
|---|---|---|---|
| 7 Jan 2025 | ₹215 | ₹76 | ₹291 (35.35%) |
| 6 Jan 2025 | ₹215 | ₹76 | ₹291 (35.35%) |
| 4 Jan 2025 | ₹215 | ₹96 | ₹311 (44.65%) |
| 3 Jan 2025 | ₹215 | ₹99 | ₹314 (46.05%) |
| 2 Jan 2025 | ₹215 | ₹96 | ₹311 (44.65%) |
| 1 Jan 2025 | ₹215 | ₹90 | ₹305 (41.86%) |
| 31 Dec 2024 | ₹215 | ₹95 | ₹310 (44.19%) |
| 30 Dec 2024 | ₹215 | ₹80 | ₹295 (37.21%) |
Performance Indo Farm Equipment
| Issue Price | Listing Gain | Current Market Price | P/L |
|---|---|---|---|
| ₹204 to ₹215 per share | ₹ 258 (19.07%) | ₹ 188.91 | -12.13% |
About Indo Farm Equipment
Incorporated in 1994, Indo Farm Equipment Limited manufactures tractors, pick & carry cranes, and farm equipment, including harvester combines and rotavators. Operating under the brands Indo Farm and Indo Power, the company exports to markets such as Nepal, Syria, Sudan, Bangladesh, and Myanmar. Its manufacturing facility in Baddi, Himachal Pradesh, spans 127,840 sq. meters and includes a foundry, machine shop, and assembly units. The facility has an annual capacity of 12,000 tractors and 1,280 cranes, with plans underway to increase crane production capacity by 3,600 units annually through a new unit.
| Founded in | 1994 |
| Managing director | Mr. Ranbir Singh |
| Parent organization | Indo Farm Equipment Ltd |
Financial Overview
Strengths
- 330+ tractor & 190 crane components in-house.
- R&D for indigenous tractor & crane designs.
- Barota Finance: ₹127.15 crore loans, 5,900+ customers.
- Global presence in Africa, LATAM, Europe & Asia.
- Retail financing by HDFC, Kotak, ICICI, Axis.
- ISO-certified Baddi facility with foundry & assembly.
Risks
- Revenue is heavily reliant on tractors and cranes.
- Awaiting approvals: consent to operate & fire safety NOCs.
- Low tractor capacity due to financing & competition.
- Heavy reliance on banks, NBFC, & Barota Finance.
- Barota Finance is exposed to recovery & regulatory risks.
- Geographical concentration in Himachal Pradesh poses operational risks.
Subscription Figures
| Category | Subscription (No. of times) |
|---|---|
| Qualified Institutional Buyers (QIBs) | 242 |
| Non-Institutional Investors (NIIs) | 501 |
| Retail Individual Investors (RIIs) | 101 |
| Employee | N/A |
| Total | 227 |