Indo Farm Equipment, a renowned manufacturer of tractors, farm equipment, and pick-and-carry cranes, debuted on the secondary market on Tuesday, January 7. This article covers all the essential details about the company’s IPO performance, live share price updates, and how the proceeds will be utilized.
IPO Proceeds Utilization
The fresh issue proceeds from the IPO will be allocated for multiple purposes, including:
- Business expansion through the establishment of a dedicated plant to enhance the production capacity of pick-and-carry cranes.
- Investment in subsidiaries to support growth initiatives.
- Repayment of existing loans to reduce financial liabilities.
- General corporate purposes to improve operational efficiency.
Top Management at Indo Farm Equipment
- RS Khadwalia: Chief Managing Director
- Anshul Khadwalia: Joint Managing Director
- Shubham Khadwalia: Executive Vice President – Sales & Marketing
- Diksha Khadwalia: Executive Vice President – International Business
Live Share Price Updates
- 12:01 PM: The stock showed consistent upward movement, reflecting investor confidence.
- 11:34 AM: Top management’s strategic leadership highlighted as a key growth driver.
- 11:05 AM: Indo Farm Equipment’s share price surged 9.63% to ₹280.66 per share on the NSE.
- 10:39 AM: The company’s market capitalization reached ₹1,356.06 crore, with shares up by 10.24% to ₹282.21.
- 10:23 AM: The stock climbed 10% to ₹281.77 per share on the NSE.
- 10:10 AM:
- Current price: ₹271.6 (+6.09%)
- Issue price: ₹215
- Open: ₹256
- High: ₹286.71
- Low: ₹256
- 10:02 AM: Indo Farm Equipment listed at ₹258.4 per share on the BSE, a premium of 20.19% over the issue price.
- 9:44 AM: The pre-opening session saw the stock trading at ₹256, a premium of 19.07%.
IPO Highlights
- Subscription Details: The IPO received overwhelming investor interest, with a subscription rate of 229.68 times. Bids were placed for 194.53 crore equity shares against 84.70 lakh shares reserved.
- Non-Institutional Investors: 503.83 times subscription
- Qualified Institutional Buyers (QIBs): 242.40 times subscription
- Retail Investors: 104.92 times subscription
- Price Band: ₹204-₹215 per share
- Lot Size: Minimum investment required for retail investors was 69 shares, amounting to ₹14,835.
- IPO Timeline:
- Subscription Period: December 31 to January 2
- Allotment: January 4
- Refund: January 6
- Demat Transfer: January 6
- Listing Date: January 7
Financial Performance
| Particulars | FY22 | FY23 | FY24 | Q1FY25 |
|---|---|---|---|---|
| Revenue (₹ Cr) | 352.08 | 370.75 | 375.23 | 74.95 |
| Net Profit (₹ Cr) | 13.72 | 15.37 | 15.59 | 2.45 |
Key Listing Data
- The stock debuted at a 19.07% premium on the NSE, opening at ₹256 against the issue price of ₹215.
- On the BSE, it was listed at ₹258.4, a 20.19% premium.
Book-Running Lead Manager and Registrar
- Aryaman Financial Services Ltd: Book-running lead manager for the issue.
- Mas Services Ltd: Registrar for the IPO.
The robust performance of Indo Farm Equipment’s IPO reflects strong investor confidence in the company’s growth potential. With strategic plans to expand its manufacturing capabilities and strengthen its financial position, Indo Farm Equipment is poised to achieve new milestones. Investors and stakeholders can expect consistent updates as the company navigates the competitive landscape of the tractor and equipment manufacturing sector.
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