Indo Farm Equipment Ltd IPO Opens On December 31. Check IPO Details Issue Date Price

EspressoLogy

Indo Farm Equipment Ltd IPO Opens On December 31. Check IPO Details Issue Date Price

December 30, 2024
Indo Farm Equipment Ltd IPO Opens On December 31. Check IPO Details Issue Date Price

Indo Farm Equipment Limited is coming out with a fresh public issue to raise Rs. 260.15 crores from the market.

Below are the details of the Indo Farm Equipment Ltd IPO:

  • Issue opens – December 31 (Tuesday)
  • Issue closes – January 02 (Thursday)
  • Issue size – Rs. 260.15 crores
  • Price band – Rs. 204 to 215 per equity share
  • Bid lot – 69 shares and in multiples thereof.

And here are some details of the company and further details on the IPO.

Company Details:

  • Indo Farm Equipment Limited was Incorporated in 1994, is a more than two decade old fully integrated established manufacturer of Tractors and Pick & Carry Cranes. They also deal in other farm equipment such as Harvester Combines, Rotavators and other related spares & components, which do not materially contribute to total revenue of their Company.
  • Their products are being exported to various countries. Their total sales for last three financial years include around 93% domestic sales and around 7% export sales. Their ISO 9001:2015 certified manufacturing facilities are spread across 127,840 sq. mtrs. of Industrial lands at Baddi, Himachal Pradesh which includes a captive foundry unit and dedicated machine shop, fabrication and assembling units for Tractors, pick & Carry Cranes and other equipments. Their facilities are equipped with induction furnaces, pneumatic molding machines, automatic molding line, sand plant, fully equipped Metallurgy and Sand Testing Laboratory, Machining Center, Gear Shop, Press Shop, Fabrication Shop, Paint Shop, Assembly unit, Quality Room & Utility room. Their integrated operations enable them to manufacture some of the critical machine components in-house which reduces their dependence on third parties, streamlines their production process and improves their operational efficiencies. In addition, it also enables them to maintain control over the entire manufacturing process and also provide better delivery timelines to their customers at a more competitive cost.
  • As on September 30, 2024, their production facilities have a capacity to manufacture 12,000 Tractors p.a. & 1,280 Pick & Carry Cranes p.a. They are currently manufacturing Tractors ranging from 16 HP to 110 HP and Pick & Carry Cranes ranging from 9 tons to 30 tons. They have recently acquired industrial land near their manufacturing facility wherein they intend to set up additional dedicated Pick & Carry Crane manufacturing unit and increase their additional capacity by 3,600 units p.a. Their products have a proven standing and market in various sectors such as Agriculture, Infrastructure, Construction, Heavy Engineering and Industrial Projects.

Issue Size: Rs. 500.00 Cr.

Issue break-up:

QIB – 50 % of the offer – Rs. 130.08 Cr.
NIB – 15 % of the offer – Rs. 39.02 Cr.
RET – 35 % of the offer – Rs. 91.05 Cr.

Listing: BSE & NSE

Registrar: MAS Services Limited

UPI : All Retail & NII Bidders (bids up to Rs. 5,00,000) Applications through brokers are compulsorily in UPI Mode

Note

Application made using third party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs. 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e., Thursday, Januray 02, 2025.

Not an Espresso customer, but still want to apply for the IPORs. Become an Espresso customer in just 15 mins* by tapping here and take it from there! (* T&C apply)

Team Espresso
by Team Espresso

We care that you succeed

Bringing readers the latest happenings from the world of Trading and Investments specifically and Finance in general.