Harvesting tools such as pick-and-carry cranes and tractor manufacturer Indo Farm Equipment’s IPO (initial public offer) is scheduled to go live for subscriptions on Tuesday, the 31st of next week.
IPO size and structure
The Indo Farm Equipment IPO is a Rs 260.15 crore book-built offering. The issue consists of an offer to sell 0.35 crore shares worth Rs 75.25 crores and a new issue of 0.86 crore shares worth Rs 184.90 crores.
Qualified institutional buyers (QIB) will get 50 per cent of the net Issue. Retail individual investors (RIIs) have been offered 35 per cent of the net issue. NII (Non institutional investors), shares offered not less than 15 per cent of the net issue.
Price band and minimum bid
The price range for Indo Farm Equipment’s IPO is Rs 204 to Rs 215 per share. An application must have a minimum lot size of 69. Retail investors must make a minimum investment of Rs 14,835.
For bNII, the minimum lot size investment is 68 lots comprising 4,692 shares, which is Rs 10,08,780, and for sNII, it is 14 lots comprising of 966 shares, which amounts to Rs 2,07,690.
Subscription and listing dates
Subscriptions for the Indo Farm Equipment IPO will be accepted starting on December 31, 2024, and will end on January 2, 2025. On Friday, January 3, 2025, the allocation for the Indo Farm Equipment IPO is anticipated to be finalized.
The tentative listing date for the Indo Farm Equipment IPO is set for Tuesday, January 7, 2025, and it will be listed on the BSE and NSE.
Registrar and book running lead manager
The Indo Farm Equipment IPO’s book running lead manager is Aryaman Financial Services Limited, and the issue’s registrar is Mas Services Limited.
Company financials
In the fiscal year 2023–24, the company reported a 1.2 per cent increase in its operating revenue to Rs 375.23 crore, up from Rs 370.75 crore the year before.
From Rs 15.37 crore in FY23 to Rs 15.59 crore in FY24, the net profit grew 1.4 per cent. For the first quarter of FY25, revenue and net profit were reported at Rs 74.95 crore and Rs 2.45 crore, respectively.
