Indo Farm Equipment IPO to open on Dec 31: Check financials, objectives, key dates and all you need to know

Indo Farm Equipment IPO: The initial public offering of Indo Farm Equipment, which is involved in the manufacturing of tractors and pick-and-carry cranes, will open for subscription on December 31.

The issue, which will conclude on January 2, 2025, has not announced the price band yet. Shares of Indo Farm Equipment will be listed on the National Stock Exchange (NSE) and the BSE.

The initial share sale is a mix of a fresh issue of 86 lakh equity shares and an offer-for-sale of 35 lakh shares.

Indo Farm Equipment IPO: Objectives

The objectives of the fresh issue are to raise funds to set up a dedicated unit for expanding the manufacturing capacity of pick-and-carry cranes, repaying debt, investing in an NBFC subsidiary (Barota Finance Ltd), and for general corporate purposes.

Half of the net issue has been set aside for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

Indo Farm Equipment IPO allotment and listing date (Tentative timeline)

• Subscription period: December 31 to January 2
• Basis of Allotment: January 3
• Refund initiation: January 6
• Credit of shares to Demat: January 6
• Listing: January 7

Indo Farm Equipment IPO: Financials

Revenue from operations increased 1.2% to ₹375.23 crore in the financial year 2023-24 compared to ₹370.75 crore in the previous fiscal year.

Indo Farm Equipment reported a 1.4% rise in net profit to ₹15.59 crore in FY24 as against ₹15.37 crore in FY23.

For the quarter ended June 2024, revenue and net profit stood at ₹74.95 crore and ₹2.45 crore, respectively.

Indo Farm Equipment IPO: About the company

Established in 1994, Indo Farm Equipment is a fully integrated manufacturer of tractors, pick & carry cranes, and other harvesting equipment like harvester combines and rotavators.

The company's products are being exported to several countries. Its manufacturing facilities are situated in Baddi, Himachal Pradesh, and include a foundry unit and machine shop, as well as fabrication and assembly points for tractors and other equipment.

The firm's facilities are equipped with pneumatic moulding machines, induction furnaces, a sand plant, an automatic moulding line, a machining centre, a metallurgy and sand testing laboratory, a gear shop, a fabrication shop, a press shop, a paint shop and a quality room.

As of September 2024, the company had a production capacity of 12,000 tractors per annum and 1,280 picks and carry cranes per year.