The Indo Farm Equipment IPO is scheduled to open in 2024 and will close within the same year. This IPO follows the Book Built Issue process, aiming to raise approximately ₹[.] crores. The offering includes a fresh issue of ₹[.] crores and an offer for sale of up to 3,500,000 equity shares, each with a face value of ₹10.
The IPO price band is set between ₹[] and ₹[] per share. The allocation for retail investors is 35%, Qualified Institutional Buyers (QIB) receive 50%, and High Net-worth Individuals (HNI) are allocated 15%. The shares are expected to be listed on the NSE in 2024, with the allotment date also falling in 2024.
Indo Farm Equipment reported a revenue of ₹370.76 crores in 2023, an increase from ₹352.08 crores in 2022. The company’s profit also grew, reaching ₹15.56 crores in 2023 compared to ₹13.72 crores in 2022.
Based on the company’s financial performance and growth trajectory, the IPO is considered a promising opportunity for long-term investors.
Indo Farm Equipment IPO: Comprehensive Details
- IPO Open Date: 2024
- IPO Close Date: 2024
- Face Value: ₹10 per equity share
- IPO Price Band: ₹[.] to ₹[.] per share
- Total Issue Size: Approx. ₹[.] crores (1,40,00,000 equity shares)
- Fresh Issue: Approx. ₹[.] crores (1,05,00,000 equity shares)
- Offer for Sale (OFS): 35,00,000 equity shares
Issue Type and Listing
- Issue Type: Book Built Issue
- Listing Exchanges: BSE and NSE
Quota Allocation
- Retail Quota: Not more than 35%
- Qualified Institutional Buyers (QIB) Quota: Not more than 50%
- Non-Institutional Investors (NII) Quota: Not more than 15%
Additional Resources
- Draft Red Herring Prospectus (DRHP): Click Here
- Red Herring Prospectus (RHP): Click Here
Indo Farm Equipment IPO Market Lot Details
The minimum market lot for the Indo Farm Equipment IPO consists of [.] shares, requiring an application amount of ₹[.]. Retail investors can apply for a maximum of 13 lots, totaling [.] shares or ₹[.].
| Application Type | Lot Size | Shares | Amount (₹) |
|---|---|---|---|
| Retail Minimum | 1 | – | – |
| Retail Maximum | 13 | – | – |
| S-HNI Minimum | 14 | – | – |
| B-HNI Minimum | 68 | – | – |
Indo Farm Equipment IPO Dates
The Indo Farm Equipment IPO is scheduled to open in December 2024 and will close within the same month. The allotment of shares will be finalized in December 2024, with refunds processed shortly after. Shares will be credited to investors’ Demat accounts in December 2024, and the IPO listing is also expected in December 2024.
| Event | Date (2024) |
|---|---|
| IPO Open Date | December |
| IPO Close Date | December |
| Basis of Allotment | December |
| Refunds | December |
| Credit to Demat Account | December |
| IPO Listing Date | December |
Promoters of Indo Farm Equipment IPO
- The promoters of Indo Farm Equipment Limited are Ranbir Singh Khadwalia and Sunita Saini.
About Indo Farm Equipment Limited
Established in 1994, Indo Farm Equipment Limited specializes in manufacturing tractors, pick-and-carry cranes, and various agricultural machinery. The company operates under two primary brands: Indo Farm and Indo Power.
Key Highlights of Indo Farm Equipment:
- Product Range:
- Tractors: Power output ranges from 16 HP to 110 HP.
- Pick-and-Carry Cranes: Capacity ranges from 9 tons to 30 tons.
- Global Presence: The company exports its products to countries including Nepal, Syria, Sudan, Bangladesh, and Myanmar.
- Manufacturing Facility:
- Location: Baddi, Himachal Pradesh.
- Area: 127,840 square meters.
- Capacity: Produces up to 12,000 tractors and 720 cranes annually.
- Infrastructure: Equipped with a foundry, machine shop, and assembly units.
Strengths and Future Plans:
Indo Farm Equipment has built a strong reputation as a skilled manufacturer with:
- Experienced and qualified management.
- An in-house Non-Banking Financial Company (NBFC) to support operations.
- A diverse product portfolio catering to various agricultural and industrial needs.
Indo Farm Equipment IPO: Financial Performance Overview
Indo Farm Equipment has demonstrated consistent financial growth over the past three years. The company’s revenue increased to ₹370.76 crores in 2023, up from ₹352.08 crores in 2022. Similarly, the profit after tax rose to ₹15.56 crores in 2023 compared to ₹13.72 crores in the previous year.
Financial Highlights (₹ in Crores)
| Period Ended | Revenue | Expense | Profit After Tax | Assets |
|---|---|---|---|---|
| 2021 | ₹267.78 | ₹256.70 | ₹8.49 | ₹551.38 |
| 2022 | ₹352.08 | ₹333.34 | ₹13.72 | ₹619.83 |
| 2023 | ₹370.76 | ₹349.57 | ₹15.56 | ₹622.84 |
Indo Farm Equipment IPO Valuation – FY2023
Here’s a breakdown of the key financial metrics for Indo Farm Equipment’s IPO for FY2023, including important valuation indicators such as Earnings Per Share (EPS), Price-to-Earnings (P/E) Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV).
| KPI | Values |
|---|---|
| Return on Equity (ROE) | 5.36% |
| Return on Capital Employed (ROCE) | 8.66% |
| EBITDA Margin | 15.79% |
| Profit After Tax (PAT) Margin | N/A |
| Debt to Equity Ratio | 0.97 |
| Earnings Per Share (EPS) | ₹4.14 (Basic) |
| Price/Earnings (P/E) Ratio | N/A |
| Return on Net Worth (RoNW) | 5.36% |
| Net Asset Value (NAV) | ₹77.38 |
Peer Group Comparison
Here’s a comparison of Indo Farm Equipment with its industry peers based on key financial metrics:
| Company | EPS | P/E Ratio | RoNW (%) | NAV | Income |
|---|---|---|---|---|---|
| Escorts Kubota Limited | ₹58.85 | 54.95 | 7.78% | ₹620.19 | ₹84,286.90 Cr. |
| Action Construction Equipment Limited | ₹14.41 | 46.71 | 19.37% | ₹77.27 | ₹21,596.75 Cr. |
Objects of the Issue
The primary objectives of the Indo Farm Equipment IPO are as follows:
- Expansion of Manufacturing Capacity: Establishing a new dedicated unit to enhance the production capacity of Pick & Carry Cranes.
- Debt Repayment: Repaying or pre-paying certain borrowings, either in full or part, that the company has availed.
- Investment in NBFC Subsidiary: Further investment in Barota Finance Ltd., the company’s NBFC subsidiary, to augment its capital base and meet future capital requirements.
- General Corporate Purposes: Utilization of funds for general corporate purposes.
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Indo Farm Equipment IPO Registrar
Mas Services Limited
Phone: (011) 2610 4142
Email: ipo@masserv.com
Website: Mas Services
IPO Lead Managers (Merchant Bankers)
- Aryaman Financial Services Limited
Company Address
Indo Farm Equipment Limited
SCO 859, NAC Manimajra Kalka Road,
Chandigarh 160101
Phone: 0172-2730060
Email: compliance@indofarm.in
Website: Indo Farm Equipment
How can I apply for the Indo Farm Equipment IPO?
You can apply online via ASBA through your bank account or UPI via your stock broker. Offline applications can also be submitted through your stock broker.
What is the issue size of the Indo Farm Equipment IPO?
The issue size of the Indo Farm Equipment IPO is ₹[] crores.
What is the price band for the Indo Farm Equipment IPO?
The price band for the Indo Farm Equipment IPO is ₹[].
What is the minimum lot size for the Indo Farm Equipment IPO?
The minimum bid is [] shares, with an amount of ₹[].
What is the allotment date for the Indo Farm Equipment IPO?
The allotment date is scheduled for [Date].
When will the Indo Farm Equipment IPO be listed?
The listing date is set for [Date], and the IPO will be listed on BSE & NSE.
FAQs for Indo Farm Equipment IPO
What is Indo Farm Equipment IPO?
Indo Farm Equipment is a main-board IPO where the company plans to raise ₹[] crores. The issue is priced at ₹[] per equity share and will be listed on BSE & NSE.
When will the Indo Farm Equipment IPO open for subscription?
The IPO will open in 2024 for QIB, NII, and Retail Investors and will close on [Date].
What is the allocation of the Indo Farm Equipment IPO for investors?
- QIB: 50%
- NII: 15%
- Retail: 35%
