Indo Farm Equipment Ltd. originally incorporated as 'Welcut Tools Private Limited' on October 5, 1994, is a manufacturer of tractors, pick & carry cranes, and other farm equipment, including harvester, combines, rotavators, and related spares & components.
| Bidding Dates |
|---|
| 31 Dec 2024 - 02 Jan 2025 |
| Subscription |
|---|
| 229.68x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,076 | 1 | 13 | 69 | 12.1 M | ₹204 - ₹215 | 69.44 % | ₹2468.4 M - ₹2601.5 M | RHP DOC |
Indo Farm Equipment IPO SUBSCRIPTION STATUS
02 Jan '25Indo Farm Equipment IPO overall subscription rate was 229.68 times the total available shares
Indo Farm Equipment IPO retail subscription rate was 104.92 times in the retail segment
Indo Farm Equipment IPO non-institutional investor subscription rate was 503.83 times in the non-institutional investor category
Indo Farm Equipment IPO Qualified Institutional Bidder subscription rate was 242.4 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
02 Jan 2025 (Day 2) | 104.92x | 503.83x | 242.4x |
31 Dec 2024 (Day 1) | 18.55x | 28.57x | 8.1x |
Indo Farm Equipment FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| Q1FY25 | 24.5 | 749.6 | 67.0 | 20.9 | 16.9% |
| FY24 | 156.0 | 3,752.3 | 405.9 | 379.1 | 16.7% |
| FY23 | 153.7 | 3,707.6 | 301.8 | 207.1 | 15.8% |
| FY22 | 137.2 | 3,520.8 | 99.8 | -146.5 | 14.8% |
Indo Farm Equipment IPO SUBSCRIPTION STATUS DETAILS
Indo Farm Equipment had 12.1 M shares on offer
Indo Farm Equipment IPO offer price was in the range ₹204 - ₹215
Indo Farm Equipment IPO minimum Investment was ₹14076
Indo Farm Equipment IPO issue size was ₹ 2468.4 M - ₹ 2601.5 M
Indo Farm Equipment had a minimum lot size of 69 Shares per application
Indo Farm Equipment NUMBER OF SHARES ON OFFER
Indo Farm Equipment IPO IMPORTANT DATES
| Issue Open Date | 31 Dec 2024 |
| Issue close Date | 02 Jan 2025 |
| Allotment Date | 03 Jan 2025 |
| Refund Date | 06 Jan 2025 |
| Demat Account Credit Date | 06 Jan 2025 |
| Listing Date | 07 Jan 2025 |
| Listing on Exchange(s) | NSE and BSE |
| Indo Farm Equipment Allotment Status | Exchange |
Indo Farm Equipment IPO subscription opened on 31 Dec 2024, and closed on 02 Jan 2025
IPO allotment for Indo Farm Equipment was finalized on Friday, 03 Jan 2025
IPO listing for Indo Farm Equipment was on NSE and BSE on Tuesday, 07 Jan 2025
Indo Farm Equipment IPO LISTING GAINS
| Issue Price (adjusted) | 215.0 |
| Listing Open Price | 256.0 |
| Listing Close Price | 273.7 |
| Listing Gain% | 19.1% |
| Current Gain% | -31.7% |
Indo Farm Equipment Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Indo Farm Equipment Ltd. | 146.9 | 705.7 | 28.3 | -4.7 | 1.6 | 4.4 | 3.2 | 446.6 | 14.6 | 24.7 | 4.9 | 5.2 | -6.1 |
| Tata Motors Ltd. | 474.8 | 174854.6 | 41.7 | 2 | 23.8 | 5.8 | 84979 | 43.8 | 3030 | -5.2 | 11.4 | ||
| Ashok Leyland Ltd. | 176.2 | 103514.9 | 29.8 | 2.5 | 1.8 | 24.4 | 3.4 | 56946.9 | 16.5 | 3471 | 11.7 | 5.9 | 11.7 |
| Escorts Kubota Ltd. | 3093.4 | 34608.3 | 25 | -0.6 | 2.8 | 19.3 | 15.2 | 12106.6 | 13.1 | 2394.1 | 89.3 | 123.6 | -41.4 |
| BEML Ltd. | 1910.6 | 15913.2 | 89.2 | -2.2 | 3.5 | 4.8 | 2 | 4380 | 8.3 | 141.4 | -51.7 | 21.4 | -40.3 |
| Action Construction Equipment Ltd. | 1078.3 | 12840.7 | 29.4 | 8.8 | 3.8 | 20.6 | 12.8 | 3390.5 | -1.1 | 415.1 | 1.4 | 36.7 | 3.3 |
Indo Farm Equipment INFORMATION ON IPO ISSUE
About Indo Farm Equipment
Indo Farm Equipment Ltd. originally incorporated as 'Welcut Tools Private Limited' on October 5, 1994, is a manufacturer of tractors, pick & carry cranes, and other farm equipment, including harvester, combines, rotavators, and related spares & components.
Object of the Issue
- Setting up a new dedicated unit for expansion of Pick & Carry Cranes manufacturing capacity
- Repayment or pre-payment, in full or part, of certain borrowings availed by the company
- Further investment in its NBFC Subsidiary (Barota Finance) for financing the augmentation of its capital base to meet its future capital requirements
- General corporate purposes
Indo Farm Equipment - PROMOTERS
| Name |
|---|
| Ranbir Singh Khadwalia |
| Sunita Saini |
Indo Farm Equipment Book running lead manager
ARYAMAN FINANCIAL SERVICES LIMITED
ipo@afsl.co.in
Indo Farm Equipment Registrar to the issue
MAS Services Limited
ipo@masserv.com
Indo Farm Equipment Strengths
Certified manufacturing facilities
The company's ISO 9001:2015 certified manufacturing facilities are spread across 127,840 sq. meters of industrial land in Baddi, Himachal Pradesh. These facilities include a captive foundry unit, a dedicated machine shop, fabrication, and assembling units for tractors and pick & carry cranes
In-house NBFC setup
To further complement and grow the business, the company has launched an in-house NBFC company to provide tractor finance for buyers through its subsidiary entity, Barota Finance
Product acceptability in multiple countries
The company has exported its products to various overseas markets, including Nepal, Syria, Sudan, Bangladesh, Myanmar, Kuwait, Jordan, Gabon, Chile, Yemen, Uruguay, Ghana, Nigeria, Ethiopia, Mauritius, Afghanistan, Mexico, Kenya, Uganda, UAE, Malaysia, and Germany
Indo Farm Equipment Risks
Concentrated revenue sources
The company derives a significant portion of its revenue from the sale of tractors and pick-and-carry cranes. Any reduction in demand or manufacturing of such products could adversely effect the business, results of operations, and financial condition
Statutory and regulatory licenses
If the company is unable to obtain, renew, or maintain the statutory and regulatory licenses, registrations, and approvals required to operate the business, it may have a material adverse effect on the business, results of operations, and financial condition
No long-term agreements
The company does not have long-term agreements with suppliers for raw materials, which could result in an increase in the cost of or a shortfall in the availability of raw materials
IPO FAQs
This IPO consists of an offer for sale of up to Rs 75.2 crore, of 3,500,000 shares. It also consists of a fresh issue of Rs 184.9 crore.
The promoters of the company are Ranbir Singh Khadwalia and Sunita Saini.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 204.0 - 215.0.
The IPO application opens on Dec 31, 2024 and closes on Jan 02, 2025.
The minimum lot size for the IPO is 69. The maximum lot size for the IPO is 897.
For all category investors, the minimum application amount for this IPO is Rs. 14,076.0, the maximum value for this IPO is Rs 192,855.0.
This IPO will be allotted on Jan 03, 2025.
The refund will be credited to your account on Jan 06, 2025.
The allotted shares will be credited to your demat on Jan 06, 2025.
Indo Farm Equipment Ltd.’s shares listed on the stock exchanges on Jan 07, 2025.