In just one hour after going live on Tuesday, December 31, Indo Farm Equipment’s initial public offering was completely subscribed.
There were bids for 5,52,31,809 shares over the 84,70,000 shares available in the first share sale, resulting in a 6.52-fold subscription until 12.30 p.m.
Subscription across all categories
Qualified Institutional Buyers (QIBs) bid on over 44.5 thosand shares, of the 24.20 lakh shares that were set aside for them. 0.02 subscriptions were made to the issue within the category.
There were 9.44 bookings for the mainboard issue in the retail category. Over 3.99 crore shares were bid on by the retail investors, compared to the 42.35 lakh shares reserved for them.
Demand was second highest in the Non-Institutional Investors (NIIs) category, with 8.72 times as many subscriptions. Whereas the NIIs applied for 1.58 crore shares, over 18.15 lakh shares were set aside for them.
Offer size and structure
The book-built offering for the Indo Farm Equipment IPO is worth Rs 260.15 crore. A new issue of 0.86 crore shares worth Rs 184.90 crores and an offer to sell 0.35 crore shares worth Rs 75.25 crores make up the issue.
50 per cent of the net issue will go to qualified institutional buyers (QIB). 35 per cent of the net issue is being offered to retail individual investors (RIIs). Shares offered by non-institutional investors (NIIs) accounted for at least 15 per cent of the total issue.
Price band and minimum bid
Indo Farm Equipment’s initial public offering (IPO) is priced between Rs 204 and Rs 215 per share. The minimum lot size required for an application is 69. The minimum investment required of retail investors is Rs 14,835.
The minimal lot size investment for bNII is 68 lots with 4,692 shares, or Rs 10,08,780, and for sNII, it is 14 lots with 966 shares, or Rs 2,07,690.
Subscription and listing timeline
The Indo Farm Equipment initial public offering (IPO) began accepting subscriptions on December 31, 2024, and run through January 2, 2025. The allocation for the Indo Farm Equipment IPO is expected to be finalised on Friday, January 3, 2025.
The Indo Farm Equipment initial public offering (IPO) is scheduled to go public on the BSE and NSE on Tuesday, January 7, 2025.
Company financials
The company’s operating revenue increased by 1.2 per cent to Rs 375.23 crore in the fiscal year 2023–2024 from Rs 370.75 crore in the previous year.
The net profit increased 1.4 per cent from Rs 15.37 crore in FY23 to Rs 15.59 crore in FY24. Revenue and net profit for the first quarter of FY25 were Rs 74.95 crore and Rs 2.45 crore, respectively.
