Indo Farm Equipment IPO allotment: Issue booked over 227 times on Day 3; here’s how to check status online

Indo Farm Equipment Limited is expected to finalise the share allotment status for its initial public offering (IPO) on Friday, January 3, following a robust subscription driven by Non-Institutional Investors (NIIs). The ₹260.15-crore mainboard issue was open for bidding from December 31 to January 2.

At the close of bidding at 5 pm on Thursday, the issue had been subscribed 227.57 times overall. According to NSE data, the IPO received bids for over 192.62 crore shares against 84.7 lakh shares on offer.

The NIIs showed the highest demand by booking their segment more than 501 times. The category received bids for over 91.03 crore shares against 18.15 lakh shares on offer. The retail quota was booked 101.36 times, with applications for over 42.92 crore shares against 42.35 lakh shares reserved for the segment. The Qualified Institutional Buyers (QIBs) placed bids for 58.65 crore shares against 24.2 lakh shares on offer. The QIBs segment was booked over 242 times.

Successful IPO investors will be informed by the company about share allocation through SMS and emails. Investors can also check the allotment status on the websites of NSE, BSE and IPO registrar, Mas Services Limited.

How to check IPO allotment status on Mas Services website

• Open the official portal of Mas Services Limited at https://www.masserv.com/index.asp
• Click on ‘IPO Allotment Status’
• Select either Search on Dp_ID/Client ID or PAN
• Enter details as per your selection
• Select Indo Farm Equipment Ltd as the issue name
• Submit to check the IPO allotment status

It’s important to note that the IPO share allotment status will only be available after finalisation of the share allocation by the company.

Steps to check IPO allotment status on NSE

• Open the IPO allotment status page on the NSE website: ww.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Login with username and password (New investors need to register on the NSE website)
• Select Indo Farm Equipment as the issue name
• Verify PAN
• Enter IPO application Number
• Click on Submit

Investors can also check the IPO allotment status on the BSE website using the PAN and Application Number.

Indo Farm Equipment IPO details

Indo Farm Equipment manufactures tractors and pick-and-carry cranes. The company also produces farm equipment like harvester combines, rotavators, and other spares and components.

The company has integrated manufacturing facilities at Baddi, Himachal Pradesh, which include a captive foundry unit, dedicated machine shop, fabrication and assembling units for Tractor, pick-and-carry cranes, and other equipment. The company exports products to Bangladesh, Nepal, Myanmar, Sudan, and Syria, among other countries.

Here are the key details about the mainboard IPO:

• Indo Farm Equipment IPO comprised a fresh issue of 86 lakh equity shares and an offer-for-sale (OFS) component of 35 lakh shares.
• The IPO price band was fixed at ₹204 to ₹215 per share.
• The minimum lot size was 69 shares, aggregating to a minimum investment is ₹14,835 for retail investors.
• The company will initiate refunds and transfer of shares to the Demat accounts on January 6.
• The IPO listing has been scheduled for January 7. Shares of Indo Farm Equipment will be listed on the NSE and BSE.

What will the company do with IPO proceeds?

Indo Farm Equipment Ltd has proposed to utilise ₹71.1 crore of the IPO funds for setting up a new unit to increase the manufacturing capacity of pick and carry cranes.

The company will utilise ₹50 crore of IPO funds for repayment or pre-payment of certain loans. It will also invest ₹45 crore in its NBFC subsidiary, Barota Finance Ltd.

Indo Farm Equipment IPO financials

Indo Farm Equipment reported a total income of ₹75.53 crore for the April-June period of FY25, while profit after tax (PAT) stood at ₹2.45 crore.

The company’s total income increased to ₹375.95 crore for the financial year ended on March 31, 2024, compared to ₹371.81 crore in the year ended on March 31, 2023. The company reported a net profit of ₹15.6 crore in FY24 against ₹15.37 crore in the preceding financial year.

Indo farm Equipment promoter shareholding