Indo Farm Equipment IPO Allotment: The Indo Farm Equipment IPO, worth ₹260.15 crore, saw an overwhelming response, with an overall subscription of 227.42 times. The bidding for the IPO, which began on December 31 and concluded on January 2, showcased strong interest across all investor categories. Shares of Indo Farm Equipment are set to be listed on the NSE and BSE on January 7.
Robust Subscription Details
The IPO closed on January 2 with a massive subscription of 227.57 times, according to NSE data. The company received bids for over 192.62 crore shares compared to the 84.7 lakh shares on offer. Here’s a breakdown of the subscription figures:
- Non-Institutional Investors (NIIs): This category witnessed the highest demand, with a subscription rate of over 501 times. NIIs placed bids for more than 91.03 crore shares against 18.15 lakh shares available.
- Retail Investors: The retail quota was subscribed 101.36 times, receiving bids for over 42.92 crore shares against 42.35 lakh shares reserved.
- Qualified Institutional Buyers (QIBs): QIBs subscribed 242 times, bidding for 58.65 crore shares against 24.2 lakh shares on offer.
Checking IPO Allotment Status
Investors can check the IPO allotment status online once the company finalizes the share allocation. Here are the steps to check the status on different platforms:
1. Mas Services Limited Website
- Visit the official Mas Services portal at Mas Services Limited.
- Click on ‘IPO Allotment Status.’
- Choose ‘Search on Dp_ID/Client ID’ or ‘PAN.’
- Enter the required details.
- Select “Indo Farm Equipment Ltd” as the issue name and submit.
2. NSE Website
- Go to the IPO allotment status page on the NSE website.
- Log in with your username and password or register as a new user.
- Select “Indo Farm Equipment” as the issue name.
- Verify your PAN and enter your application number.
- Submit to view the allotment status.
3. BSE Website
- Visit the BSE website’s IPO allotment status page.
- Enter your PAN and application number to check the allotment.
Key Details About the IPO
Indo Farm Equipment is a leading manufacturer of tractors, pick-and-carry cranes, and farm equipment such as harvester combines and rotavators. The company operates integrated manufacturing facilities in Baddi, Himachal Pradesh, which include a captive foundry unit, machine shop, and assembly units. Products are exported to countries like Bangladesh, Nepal, and Sudan.
IPO Structure:
- Fresh Issue: 86 lakh equity shares.
- Offer for Sale (OFS): 35 lakh shares.
- Price Band: ₹204 to ₹215 per share.
- Minimum Investment: 69 shares per lot, amounting to ₹14,835 for retail investors.
- Key Dates: Refunds and share transfers to Demat accounts are scheduled for January 6, with listing on January 7.
Utilization of IPO Proceeds
Indo Farm Equipment plans to utilize the IPO proceeds as follows:
- ₹71.1 crore for setting up a new unit to increase the manufacturing capacity of pick-and-carry cranes.
- ₹50 crore for repayment or prepayment of certain loans.
- ₹45 crore for investment in its NBFC subsidiary, Barota Finance Ltd.
Financial Performance
The company reported a total income of ₹75.53 crore for Q1 FY25, with a profit after tax (PAT) of ₹2.45 crore. For FY24, the total income rose to ₹375.95 crore compared to ₹371.81 crore in FY23. Net profit stood at ₹15.6 crore in FY24, slightly higher than ₹15.37 crore in FY23.
Promoter Shareholding
- Pre-Issue: 93.45%
- Post-Issue: 69.44%
Stay tuned for the IPO listing on January 7 to see how Indo Farm Equipment performs on the stock exchanges.
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