Indo Farm Equipment IPO Day 3: GMP Up By 41.86%; Check Subscription Status and Listing Expectations
Posted by : sachet | Thu Jan 02 2025
Indo Farm Equipment IPO is set to close on 2nd January 2025. Investors interested in subscribing to the IPO have the last chance to do so today. The issue opened for bidding on 31st December 2024 and was already fully subscribed on the opening day.
Indo Farm Equipment expects to raise Rs. 260.15 crores from this book-building issue, with a mix of fresh and offer-for-sale shares. The company anticipates raising Rs. 184.9 crores through fresh issuance of 86,00,000 shares and Rs. 75.25 crores from issuing 35,00,000 offer-for-sale shares. The capital raised will be utilised to expand its pick-and-carry crane manufacturing, repay borrowings, and invest in its non-banking financial company (NBFC) subsidiary, Barota Finance Limited.
Indo Farm Equipment IPO Details
| IPO Open Date | 31st December 2024 |
| Face Value | Rs. 10 per share |
| Price Band | Rs. 204 to Rs. 215 per share |
| Lot Size | 69 shares |
| Listing At | NSE, BSE |
| Total Issue Size | 1,21,00,000 shares (approx. Rs. 260.15 Cr.) |
| IPO Close Date | 2nd January 2025 |
Retail investors looking to subscribe to the said IPO can apply for a minimum lot size with a minimum investment of Rs. 14,835 and multiples thereof. Whereas the minimum lot sizes for small non-institution bidders (sNIIs) and large non-institutional bidders (bNIIs) are 14 lots (966 shares) and 68 lots (4,692 shares), amounting to Rs. 2,07,690 and Rs. 10,08,780, respectively.
Indo Farm Equipment Subscription Status
Indo Farm Equipment IPO is subscribed 111.61 times as of 12:55 P.M. on 2nd January 2025. Check out the table below for the latest subscription details.
| Date | QIBs | NIIs | NIIs (> Rs. 10 lakh) | NIIs (< Rs. 10 lakh) | Retail | Total |
| Dec 31st, 2024 (Day 1) | 8.1 | 28.68 | 25.15 | 35.73 | 18.82 | 17.87 |
| Jan 1st, 2025 (Day 2) | 11.96 | 132.03 | 130 | 136.08 | 46.07 | 54.74 |
| Jan 2nd, 2025 (Day 3) | 29.51 | 310.37 | 330.06 | 264.98 | 73.34 | 111.61 |
*Data is updated as of 2nd January 2025 (12:55 PM)
Indo Farm Equipment GMP
The latest GMP of Indo Farm Equipment IPO is Rs. 90, updated early morning on 2nd January 2025. The estimated listing price is around Rs. 305, with an expected percentage gain of 41.86% per share.
If market sentiments are positive, we can expect the GMP to increase further. Investors are recommended to check the live grey market premium (GMP) before bidding for the shares.
Indo Farm Equipment Financial Performance
| Particulars | 30th Jun, 2024(in Cr.) | 31st Mar, 2024(in Cr.) | 31st Mar, 2023(in Cr.) | 31st Mar, 2022(in Cr.) |
| Assets | 644.27 | 647.95 | 622.84 | 619.83 |
| Revenue | 75.54 | 375.95 | 371.82 | 352.52 |
| Profit After Tax | 2.45 | 15.6 | 15.37 | 13.72 |
| Net Worth | 342.25 | 317.06 | 290.37 | 274.8 |
| Total Borrowing | 245.36 | 270.54 | 280.65 | 275.00 |
*Data is updated as of 2nd January, 2025.
About The Company
Info Farm Equipment Limited, incorporated in 1994, is involved in the manufacturing of pick-and-carry cranes, tractors and other equipment. The company functions under two arms: Indo Power and Indo Farm. This organisation not only has extensive domestic presence but also ship its products to foreign markets like Myanmar, Bangladesh, Syria, Nepal and Sudan.
The manufacturing facility of Indo Farm Equipment Limited is based in Baddi, Himachal Pradesh, which spans 1,27,840 square meters. As of now, the company has a production capacity of 1,280 pick-and-carry cranes and 12,000 tractors annually and aims to increase its pick-and-carry cranes production capacity to 3,600 units per year.
