Upcoming IPOs: Indo Farm Equipment along with 2 other IPOs to open for subscription; 6 new listings

The primary markets have seen a stellar run so far in 2024, and as the year comes to an end, the momentum does not seem to be ending. In the remaining two trading days of the current calendar year, the launch of new issues will keep investors busy.

So far, 91 main board IPOs have hit the capital market in 2024, mobilising a record ₹1.59 lakh crore from public investors.

The upcoming week, which also marks the beginning of 2025, is expected to be an eventful period with the listing of as many as 6 public offers. The mainboard issue of Indo Farm Equipment Ltd and the SME IPO of Technichem Organics Ltd will open for subscription.

As many as three mainboard IPOs of Carraro India, Senores Pharmaceuticals, and Ventive Hospitality are scheduled to be listed next week. Shares of Unimech Aerospace and Manufacturing will also make market debut in the coming week on December 31. Moreover, SME IPO Leo Dry Fruits and Spices Trading Ltd will mark the start of the New Year as the issue opens for bidding on Wednesday, January 1, 2025.

Let’s take a look at all the major IPO activities in the upcoming week between December 30 and January 3, 2025.

Indo Farm Equipment Ltd

Farm equipment, cranes and tractor manufacturer Indo Farm Equipment Ltd will launch its IPO on December 31 to raise ₹260.15 crore from public investors. The book-built issue is the last main board public offer of 2024 and will close on January 2, 2025.

The IPO is a combination of a fresh issue of 86 lakh shares worth up to ₹184.90 crore and an offer-for-sale of 35 lakh shares, worth ₹75.25 crore.

Promoter Ranbir Singh Khadwalia is selling shares through the OFS route. Indo Farm Equipment has set the price band between ₹204 and ₹215 per share for the IPO. The minimum lot size is 69 shares, requiring retail investors to invest a minimum of ₹14,835.

Indo Farm Equipment is an integrated producer of tractors and pick-and-carry cranes. It also manufactures farm equipment such as harvester combines and rotavators.

It sells products under the Indo Farm and Indo Power brands and exports products to Nepal, Bangladesh, Myanmar, Syria, Sudan and other countries. Exports account for around 7% of its sales revenue.

Technichem Organics IPO

Chemicals and dyes producer Technichem Organics Limited will launch its SME IPO on December 31 to raise ₹25.25 crore. The IPO comprises a fresh issue of 45.9 lakh shares and closes on January 2 on the BSE SME platform.

The company has set the price band at ₹52 to ₹55 per share. For retail investors the minimum lot size is 2,000 shares.

The company aims to raise money to fund the capital expenditure of a new plant named “Plant 4” and repayment or prepayment of certain borrowings availed by it.

Leo Dryfruits and Spices Trading IPO

Leo Dryfruits and Spices Trading Ltd, which manufactures and markets a variety of spices and dry fruits under the VANDU brand, will launch its SME IPO on the BSE on January 1, 2025. The IPO will close for bidding on January 3, 2025. The listing date for the IPO has been fixed as January 8, 2025.

The ₹25.12-crore issue comprises a fresh issuance of 48.3 lakh shares. The company has set the price at ₹51 to ₹52 per share. The minimum lot size is 2,000 shares, requiring a minimum investment of ₹1,04,000 by retail investors.

6 IPO listings this week

In addition to these new IPOs, three main board public offers that closed for bidding this week will make the market debut. Ventive Hospitality Ltd, Senores Pharmaceuticals Ltd and Carraro India Ltd will list their shares on the BSE and NSE on Monday, December 30. Unimech Aerospace and Manufacturing IPO listing is scheduled on the NSE and BSE on December 31.

The SME IPOs of Anya Polytech and Fertilizers Ltd and Citichem India Ltd will make market debut on January 2 and 3, respectively.