NE BUSINESS BUREAU
AHMEDABAD, DEC 30
Indo Farm Equipment’s initial public offering (IPO) will be opening up for subscription on Tuesday, December 31, 2024. The Anchor Investor Bidding Date is one Working Day prior to Bid/Offer Opening Date, being Monday, December 30, 2024. The Bid/ Offer Closing Date is Thursday, January 2, 2025.
- Price Band fixed at ₹ 204 per equity share to ₹ 215 per equity share of the face value of ₹10 each
- Anchor Investor Bidding Date – Monday, December 30, 2024
- Bid /Offer Opening Date – Tuesday, December 31, 2024, and Bid/ Offer Closing Date – Thursday, January 2, 2025
- Bids can be made for a minimum of 69 Equity Shares and in multiples of 69 Equity Shares thereafter
Plans to raise between ₹ 247 cr and ₹ 260 cr through its IPO
The Price Band of the Offer has been fixed from ₹204 per Equity Share to ₹215 per Equity Share. Bids can be made for a minimum of 69 Equity Shares and multiples of 69 Equity Shares thereafter.
The Initial Public Offering comprises a Fresh Issue of up to 8,600,000 equity shares and an Offer For Sale of up to 3,500,000 equity shares by Ranbir Singh Khadwalia, , the Promoter Selling Shareholder.
The promoters of this company are Ranbir Singh Khadwalia and Sunita Saini.
The company will be using the net proceeds of the IPO to establish a dedicated facility to build pick & carry cranes (₹70 crore), to repay or settle a debts (₹50 crore), to increase its investment in its NBFC subsidiary (Barota Finance), to develop its capital base for upcoming requirements (₹45 crore), and to allocate the remaining funds for general corporate purposes.
The company has reserved 50% of the shares for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% for for retail investors.
Indo Farm Equipment IPO: It is a well-established manufacturer of tractors and pick & carry cranes with more than two decades of experience in the field. The Chandigarh-based company also sells different types of agricultural equipment, which includes combine harvesters, rotavators, and also spare parts and components.
For the financial years 2023-24, 2022-23, and 2021-22, it reported a total income of ₹375.95 crore, ₹371.81 crore, and ₹352.52 crore respectively.
Its profit after tax for the same periods were ₹2.45 crore, ₹1.55crore, and ₹1.54 crore respectively.
The Equity Shares of the Company are proposed to be listed on BSE Limited and the National Stock Exchange of India Limited.
Aryaman Financial Services Limited is the Book Running Lead Manager (“BRLM”) to the Offer.
