Mon Dec 30 12:40:55 UTC 2024: ## Indo Farm Equipment to Launch IPO on December 31st

**Chandigarh, India (December 30, 2024)** – Indo Farm Equipment, a leading manufacturer of tractors and agricultural equipment, will launch its initial public offering (IPO) on Tuesday, December 31st, 2024. The IPO comprises a fresh issue of 8.6 million equity shares and an offer for sale of up to 3.5 million shares by promoter Ranbir Singh Khadwalia.

The IPO price band is set between ₹204 and ₹215 per share, with a face value of ₹10 and a lot size of 69 shares. Anchor investor allocation is scheduled for December 30th, with share allocation to investors on January 3rd, refunds on January 6th, and listing on the BSE and NSE on January 7th. Aryaman Financial Services Ltd is the book running lead manager, and Mas Services Ltd is the registrar.

The company plans to use the net proceeds to establish a pick & carry crane facility (₹70 crore), repay debts (₹50 crore), invest in its NBFC subsidiary (₹45 crore), and for general corporate purposes. The IPO has reserved 50% of shares for qualified institutional buyers (QIBs), at least 15% for non-institutional investors (NIIs), and at least 35% for retail investors.

Indo Farm Equipment, with over two decades of experience, manufactures tractors, pick & carry cranes, combine harvesters, and rotavators. For the financial years 2021-22, 2022-23, and 2023-24, the company reported total incomes of ₹352.52 crore, ₹371.81 crore, and ₹375.95 crore, respectively. Profit after tax during these periods was ₹1.54 crore, ₹1.55 crore, and ₹2.45 crore, respectively.

Current grey market premium (GMP) is estimated at ₹82, suggesting a potential listing price of ₹305, a 41.86% increase over the higher end of the IPO price band. Promoters are Ranbir Singh Khadwalia and Sunita Saini. Listed peers include Escorts Kubota Ltd and Action Construction Equipment Ltd.

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