Mon Dec 30 11:52:59 UTC 2024: ## Indo Farm Equipment IPO Opens Tuesday, Seeking ₹215 Crore
**Mumbai, Dec 31, 2024** – Indo Farm Equipment, a well-established agricultural equipment manufacturer, is launching its Initial Public Offering (IPO) on Tuesday, January 2nd, offering investors a chance to participate in its growth story. The IPO, priced between ₹204 and ₹215 per share, aims to raise approximately ₹215 crore (based on the upper price band).
The IPO consists of a fresh issue of 8.6 million equity shares and an offer for sale (OFS) of up to 3.5 million shares by promoter Ranbir Singh Khadwalia. Proceeds will fund capacity expansion for Pick & Carry Cranes, loan repayment, investment in its NBFC subsidiary, Barota Finance, and general corporate purposes.
The company reported a total income of ₹3,759.53 million in FY24, with a profit after tax of ₹155.95 million. Analysts point to its consistent financial performance over the past three years as a key attraction for investors. A significant grey market premium (GMP) of ₹80 suggests a potential listing price significantly above the upper price band.
The allocation of shares is 50% for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 35% for retail investors. Allotment is scheduled for January 3rd, with shares credited to demat accounts on January 6th, and listing on the NSE and BSE on January 7th.
Indo Farm Equipment boasts advanced manufacturing facilities, including induction furnaces and automated lines, and produces a range of products including tractors, cranes, harvester combines, and rotavators. While comparable companies like Escorts Kubota and Action Construction Equipment trade at high price-to-earnings ratios, analysts remain optimistic about Indo Farm Equipment’s prospects. The IPO closes on Thursday, January 2nd.
First Piper 