Indo Farm Equipment Limited IPO

Mainboard

Tractors

Listed On: Jan 7, 2025 at ₹ 256.0(NSE)

₹ 14835 /69 Shares

Check Allotment

Price Summary

Last Closing

225.50 (4.88%)

52 Week High

293.20

52 Week Low

220.20

Last Update

17-Jan-2025 3:30 PM

Indo Farm Equipment IPO Details

31 Dec, 2024

Open Date

02 Jan, 2025

Close Date

03 Jan, 2025

Allotment Date

07 Jan, 2025

Listing Date

Issue Price

₹204-215 per equity share

Face Value

₹10 Per Equity Share

Listing at Group

BSE, NSE

Registrar

Mas Services Limited

List Price

256.0(NSE)

Listing Date

2025-01-07

Market Lot

Retail : 69 Shares (₹14,835/-)
S-HNI : 966 Shares (₹2,07,690/-)
B-HNI : 4,692 Shares (₹10,08,780/-)

Lead Manager

Aryaman Financial Services Limited

Issue Size

Total ₹260.15 Cr :
#Fresh Issue : 86,00,000 shares(aggregating up to ₹184.90 Cr) +
#OFS : 35,00,000 shares of ₹10(aggregating up to ₹75.25 Cr)

Retail Portion

35% (Number of Retail Applications: 61,377 Approx),
(Number of S-HNI Applications : 626 Approx),
(Number of B-HNI Applications : 1,253 Approx)

Subscription

227.57 times

IPO Docs

DRHP RHP ANCHOR

Indo Farm Equipment IPO Subscription Details

As on	QIB	NII bNII sNII	Retail	Total
Shares Offered / Reserved	24,20,000	18,15,000 12,10,000 6,05,000	42,35,000	84,70,000
Day 1 - 31-12-24 05:00 PM	8.10 x	28.57 25.15 x 35.41 x	18.55 x	17.71 x
Day 2 - 01-01-25 05:00 PM	11.96 x	131.84 130.00 x 135.51 x	45.76 x	54.55 x
Day 3 - 02-01-25 05:00 PM	242.40 x	501.65 548.13 x 408.67 x	101.64 x	227.57 x

Total No. of Applications: 53,72,747 (Approx)

Retail Subscription on the basis of Applications: Retail:76.12x BHNI:108.62x SHNI:390.01x times

Indo Farm Equipment Valuations

EPS Pre IPO

3.95

EPS Post IPO

2.04

P/E Pre IPO

54.39

P/E Post IPO

105.25

ROE

5.13%

ROCE

8.96%

Debt/Equity

0.85

RoNW

4.92%

PAT Margin

4.16

Price to Book Value

2.55

Indo Farm Equipment Company Financials All values are in ₹ Cr.

	31-Mar-24	31-Mar-23	31-Mar-22
Assets	647.95	622.84	619.83
Revenue	375.95	371.82	352.61
Profit After Tax	15.6	15.37	13.72
Net Worth	317.06	290.37	274.8
Total Borrowing	270.54	280.65	275

About The Company

The Indo Farm Equipment is a major manufacturer of world-class tractors, pick-and-carry cranes, and advanced farm equipment, which also includes the harvester combines, rotavators, and related parts.

Products of the company are marketed under the brand names of Indo Farm and Indo Power catering to the home market besides international markets. Indo has an exporting network that touches base with the countries of Nepal, Syria, Sudan, Bangladesh, Kenya, Germany, UAE, among others.

Indo Farm has a world-class manufacturing facility covering 127,840 sq. mtrs. at Baddi, Himachal Pradesh. As of August 31, 2023, this facility has an annual production of 12,000 tractors (16 HP-110 HP) and 720 pick-and-carry cranes, 9 tons to 30 tons.

Indo Farm Equipment is the epitome of quality and innovation leading to agricultural and industrial growth everywhere in the world.

Indo Farm Equipment - Strength and Weakness

Strength

The company operates ISO 9001:2015 certified manufacturing facilities spanning 1,27,840 square metres in Baddi, Himachal Pradesh. These facilities house a captive foundry unit, a dedicated machine shop, and fabrication and assembly units for tractors and pick and carry cranes.

In a strategic move to bolster its operations, the company has established an in-house Non-Banking Financial Company (NBFC) named Barota Finance Limited. This subsidiary offers tractor financing solutions to its customers, enhancing the company's service portfolio.

The company has successfully penetrated international markets, exporting its products to a multitude of countries, including Nepal, Syria, Sudan, Bangladesh, Myanmar, Kuwait, Jordan, Gabon, Chile, Yemen, Uruguay, Ghana, Nigeria, Ethiopia, Mauritius, Afghanistan, Mexico, Kenya, Uganda, UAE, Malaysia, and Germany, with an annual production capacity of 3,600 units.

Weakness

A substantial portion of the company's revenue is derived from the sale of tractors and pick-carry cranes. This heavy reliance on these product lines exposes the business to potential adverse impacts in the event of reduced demand or manufacturing disruptions.

The company faces the risk of being unable to obtain, renew, or maintain the requisite statutory and regulatory licences, registrations, and approvals needed to operate its business. Such a situation could result in significant adverse effects on the company's business, financial condition, and operational results.

The company lacks long-term agreements with its raw material suppliers. This absence of contractual commitments may lead to increased raw material costs or potential shortages, posing challenges to the company's supply chain and cost management.

Indo Farm Equipment - Peers Comparison

	P/B Ratio	P/E Ratio	RoNW	Net Worth
Indo Farm Equipment	2.48	66.3	4.92%	376
Escorts Kubota	3.59	30.4	12.0%	9,742
Action Construction Equipment	12.6	47.8	30.6%	3,080

Indo Farm Equipment - Promoter(s)

Pre Issue Share Holding: 93.45%

Post Issue Share Holding: 69.44%

Company Promoter(s)

Ranbir Singh Khadwalia
Sunita Saini

Indo Farm Equipment IPO - Issue Objectives

Setting up new Dedicated Unit for Expansion of their Pick & Carry Cranes Manufacturing Capacity
Repayment or pre-payment, in full or part, of certain borrowings availed by the Company
Further Investment in NBFC Subsidiary (Barota Finance Ltd.) for financing the augmentation of its capital base to meet its future capital requirements.
General Corporate Purposes

Indo Farm Equipment IPO - Anchor Investors

Indo Farm Equipment raises over Rs 78 crore via anchor book.

Negen Undiscovered Value Fund is the largest anchor investors amongst them, buying 6.97 lakh shares worth Rs 15 crore, followed by Niveshaay Hedgehogs Fund, and Rajasthan Global Securities, which invested Rs 10 crore each in Indo Farm Equipment.

Further, Subham Capital and India Equity Fund picked shares worth Rs 7 crore and Rs 6 crore, respectively. Chhatisgarh Investments, Saint Capital Fund, Vikasa India, Ashika Global Securities, Shine Star Build Cap, and Smart Horizon Opportunity Fund, which invested Rs 5 crore each.

Other Details

Company Contact Details

Indo Farm Equipment

SCO 859, NAC Manimajra Kalka Road, Chandigarh 160101

Phone: 0172-2730060

Email: compliance@indofarm.in

Website: https://www.indofarm.in/

Registrar Contact Details

Mas Services Limited

Phone: (011) 2610 4142

Email: ipo@masserv.com

Website: https://www.masserv.com/opt.asp

Indo Farm Equipment IPO - FAQs

Ans. Indo Farm Equipment Limited IPO is a Mainboard IPO. The issue is priced at ₹204-215 per equity share. The minimum order quantity is 69 Shares. The IPO opens on Dec 31, 2024, and closes on Jan 2, 2025. Mas Services Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The Indo Farm Equipment Limited IPO opens on Dec 31, 2024 and closes on Jan 2, 2025.

Ans. The size of Indo Farm Equipment Limited IPO is Total ₹260.15 Cr : #Fresh Issue : 86,00,000 shares(aggregating up to ₹184.90 Cr) + #OFS : 35,00,000 shares of ₹10(aggregating up to ₹75.25 Cr).

Ans. The IPO price band is set between ₹204-215 per equity share.

Ans. To apply for Indo Farm Equipment Limited IPO IPO, follow the steps given below:

- Open the IPO Ji App or Website
- Find Indo Farm Equipment Limited IPO in the List of IPOs
- Press "Apply" Button
- Select Your Demat Account
- Select Your Shares Quantity and Submit
- Track Your IPO Status

Ans. The share allotment date of Indo Farm Equipment Limited IPO is Jan 3, 2025.

Ans. The Indo Farm Equipment Limited IPO will be listed on Jan 7, 2025.

Ans. Follow the steps to check the allotment status for Indo Farm Equipment Limited IPO here.