₹ 14835 / 69 shares
IPO Details
RHP/DRHPIssue Date
31 Dec - 2 Jan'25
Investment/lot
₹ 14835
Price Range
204 - 215
Lot Size
69
IPO Size
₹ 260.15 Cr
IPO Listing Details
Listing On
7 Jan'25
Issue Price
215
Listed Price
₹ 256
Retail Gain/Listing Gain
▲19.07%
IPO Timeline
About Indo Farm Equipment IPO
Indo Farm Equipment IPO is an IPO of ₹260 crores. It consists of a fresh issue of ₹184.90 crores and an offer for sale of ₹75.25 crores. The IPO opens on Dec 31, 2024, and closes on Jan 2, 2024. The shares will be allotted on Jan 3, 2025. They will be credited on Jan 6, 2024 and the refunds will be initiated on Jan 6, 2025.
Objective of Indo Farm Equipment IPO
- Expand pick-and-carry crane manufacturing capacity.
- Reduce debt by repaying certain borrowings.
- Increase capital for NBFC subsidiary Barota Finance.
- General corporate purposes
Indo farm equipment IPO Valuation
| Detail | Information |
|---|---|
Upper Price Band (₹) | ₹215 |
Existing Shares to be Sold | 35,00,000 equity shares aggregating up to ₹75.35 crores |
Fresh Issue | 86,00,000 shares aggregating up to ₹75.25 crores |
EPS (₹) | 3.95 (FY24) |
Indo Farm Equipment IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
Retail (Min) | 1 | 69 | ₹14,835 |
Retail (Max) | 13 | 897 | ₹1,92,855 |
S-HNI (Min) | 14 | 966 | ₹2,07,690 |
S-HNI (Max) | 67 | 4,623 | ₹9,93,945 |
Indo Farm Equipment IPO Share offer and Subscription Details
| Investor Category | Shares Offered |
|---|---|
QIB Shares Offered | Not more than 50% of the Net Issue |
Retail Shares Offered | Not less than 35% of the Net Issue |
NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Industry Outlook
The global tractor market is projected to grow from USD 84.8 billion in 2024 to USD 114.5 billion by 2029 at a CAGR of 5.9%. Similarly, the global mobile crane market is expected to expand from USD 21.1 billion to USD 29.1 billion during the same period, reflecting robust demand.
Company Information
Indo Farm Equipment Limited is a leading manufacturer of tractors, pick-and-carry cranes, and farm equipment. Established in 1994, the company also provides ancillary products and operates an NBFC subsidiary for tractor financing.
Indo farm equipment IPO Strengths
Established Market Presence: With over two decades of operations, Indo Farm Equipment Limited has built a strong reputation in agricultural and industrial equipment manufacturing, serving domestic and export markets.
Backward Integration: The company manufactures critical components in-house, ensuring better cost control, consistent quality, and reduced dependency on external suppliers.
Diverse Revenue Streams: It has a balanced revenue mix with tractors, cranes, and ancillary products, which reduces reliance on a single product line and supports sustained growth.
Risks of Indo Farm Equipment IPO
Concentration Risk: The company generates over 60% of its revenue from just five states, making it vulnerable to regional economic and policy changes.
Debt Dependency: Significant indebtedness, with total liabilities exceeding ₹2,453.63 million as of FY24, could impact financial flexibility and increase interest costs.
Litigation Exposure: Ongoing legal proceedings involving the company and its promoters could lead to financial liabilities, reputational damage, and operational disruptions if outcomes are unfavourable.
All Financial Information about Indo farm equipment
Comprehensive financial data, including revenue, profit/loss statements, EBITDA, and other critical metrics.
Particulars (in Rs. million)
Particulars (in Rs. million)
Comparison with peers
| Parameter | Indo Farm Equipment Ltd | Action Construction Equipment | Escorts |
|---|---|---|---|
Revenue from Operations | 3752.32 | 29138.00 | 84,496.20 |
EBITDA | 625.17 | 4803.40 | 11837.10 |
Restated profit for the year | 155.95 | 3281.98 | 10,490.80 |
Return on Equity | 5.13% | 30.55% | 12.08% |
Return on Capital Employed | 8.96% | 36.76% | 15.22% |
Anchor Investor Information
The Anchor Investor Bid date is on Dec 30, 2024.
IPO Registrar and Book Running Lead Managers
- Book Running Lead Manager: Aryaman Financial Services Limited.
- Registrar for the IPO: MAS Services Limited. Business Model
Tractor Sales: Constitutes over 50% of revenue. Cranes: Represents a growing segment, nearly 48% of revenue in FY24. Other Farm Equipment: Contributes marginally.
Company Growth Trajectory
Indo Farm has consistently grown, with revenue increasing from ₹3,52.084 crores in FY22 to ₹3,75.232 crores in FY24. Profit After Tax (PAT) rose from ₹13.719 crores in FY22 to ₹15.595 crores in FY24.
Company Market Position
Indo Farm holds a significant market presence in India's agricultural machinery and construction equipment sectors, leveraging strong domestic demand and a robust dealer network.
Indo Farm Equipment Company Profit & Loss
| Parameter | FY22 | FY23 | FY24 |
|---|---|---|---|
Total Income (₹ million) | 352.521 | 371.818 | 375.953 |
Profit Before Tax (₹ million) | 192.75 | 222.50 | 238.93 |
Net Profit (₹ million) | 137.19 | 153.72 | 155.95 |
EBITDA (₹ million) | 75.14 | 300.56 | 791.86 |
EPS (₹) | 4.15 | 4.09 | 3.65 |
Indo Farm Equipment IPO Cash Flow Statement
| Parameter | FY22 | FY23 | FY24 |
|---|---|---|---|
Profit before tax | 192.75 | 222.50 | 238.93 |
Net Cash from Operating Activities (₹ million) | 99.77 | 301.75 | 405.87 |
Net Cash from Investing Activities (₹ million) | (259.62) | (83.74) | (25.91) |
Net Cash from Financing Activities (₹ million) | 164.02 | (219.91) | (256.98) |
Cash and Cash Equivalents (₹ million) | 19.48 | 17.58 | 140.56 |
How To Check Allotment Status of Indo Farm Equipment IPO?
You can check the allotment status of shares either on the website of the Bombay Stock Exchange (BSE) or on the website of the registrar MAS Services Limited. To check the status on the BSE website:
- Visit the BSE website
- Click on “Investor Services” and choose “Application Status Check”
- Choose the issue type — Equity or Debt (Equity in this case)
- Select the Issue Name from the drop-down. The issue name is the company’s name, which is Indo Farm Equipment Ltd
- Enter your application number or PAN number
- Check the box which says “I’m not a Robot” and click on “Search” to know the allotment status
Follow these steps to know the allotment status on the registrar’s website:
- Visit the MAS Services Limited website
- Choose “Public Issues” from the “Investor Services” drop-down
- Select Indo Farm Equipment Ltd from the drop-down
- Enter your PAN number or Application number
- Click on “Submit” to know the allotment status
How To Apply for Indo Farm Equipment Ltd IPO?
Here are the steps to apply for Indo Farm Equipment Ltd IPO:
Step 1: Log in to your Kotak Securities Demat account Log in to your Demat account to access IPO investments. Next, select the current IPO section.
Step 2: Specify IPO details Enter the number of lots and the price you wish to apply for.
Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.
Step 4: Mandate Notification Your UPI app will receive a mandate notification to block funds.
Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.
Indo farm equipment IPO FAQs
When is Indo farm equipment IPO listing date?
Indo farm equipment IPO will list on 2025-01-07.
What is the issue size of Indo farm equipment IPO?
260.15 is the issue size of Indo farm equipment IPO.
What is the minimum lot size required for Indo farm equipment IPO?
The minimum lot size is 69 shares and the investment required is ₹14835.
What is the price band of the Indo farm equipment IPO?
The price band of Indo farm equipment IPO is ₹204 to ₹215.
Where can I read more about Indo farm equipment business?
You can read more about Indo farm equipment and its IPO from the company’s red herring prospectus (RHP) here.
What is the Indo farm equipment IPO?
The Indo farm equipment IPO has an issue size of ₹260.15 crores. The IPO opens for subscription on 31/12/2024 and closes on 02/01/2024.
Who is the Registrar for Indo Farm Equipment IPO?
MAS Services Limited is the registrar for this IPO.
