Indo Farm Equipment's upcoming initial public offering (IPO) will begin subscriptions on December 31 and run until January 2. On December 30, anchor investor allocation will take place. The company has a manufacturing facility in Himachal Pradesh and manufactures cranes and tractors.
Future IPO: According to the red herring prospectus (RHP), the Indo Farm Equipment IPO will open for subscriptions on Tuesday, December 31 and end on Thursday, January 2. On Monday, December 30, the Indo Farm Equipment IPO's anchor investors will be distributed. The company is anticipated to disclose the IPO pricing range tomorrow, according sources.On Wednesday, January 24, the Indo Farm Equipment IPO basis for share allocation is expected to be finalized. On Thursday, January 26, the business will begin refunds, and the shares will be credited to the allottees' demat accounts the same day after the refund. On Monday, January 30, the share price of Indo Farm Equipment is anticipated to be published on the BSE and NSE.
On Wednesday, January 24, the Indo Farm Equipment IPO basis for share allocation is expected to be finalized. On Thursday, January 26, the business will begin refunds, and the shares will be credited to the allottees' demat accounts the same day after the refund. The share price of Indo Farm Equipment is probably going to be listed on the BSE and NSE on Monday, January 30.
The company manufactures pick-and-carry cranes with capacities ranging from 9 to 30 tons and tractors with horsepower ranging from 16 to 110. Their 127,840 square meter production plant, which includes a foundry, machine shop, and assembly divisions, is situated in Baddi, Himachal Pradesh.
The company can produce 1,280 pick-and-carry cranes and 12,000 tractors annually. The Baddi, Himachal Pradesh, complex, which has 127,840 square meters of industrial space, has a machine shop and captive foundry in addition to fabrication and assembly units for tractors, pick-and-carry cranes, and other machinery.
According to the RHP, Action Construction Equipment (P/E of 47.42) and Escorts Kubota (P/E of 36.79) are the company's listed peers.
As of fiscal 2024, the company's operating revenue was ₹375.2 crore, with a PAT of ₹15.5 crore.
Details of the Indo Farm Equipment IPO
A fresh issue of up to 8.6 million equity shares and an offer for sale (OFS) of up to 3.5 million equity shares by Promoter Selling Shareholder Ranbir Singh Khadwalia are part of the Chandigarh-based company's initial public offering (IPO).
A total of Rs. 35.1 crore was raised by the firm through the pre-IPO issuance of 1.9 million equity shares at a price of ₹185 each. Consequently, the new issue's size has been lowered from 10.5 million shares to 8.6 million shares.
The net proceeds from the new share sale will be used by the company to build a new facility specifically for expanding the manufacturing capacity of Pick & Carry Cranes (worth ₹70 crore), pay back or prepay all or part of the ₹50 crore in specific borrowings that the company has taken out, invest another ₹45 crore in its NBFC subsidiary (Barota Finance) to strengthen its capital base for future needs, and use the remaining funds for general corporate purposes.
The company can produce 1,280 pick-and-carry cranes and 12,000 tractors annually. The Baddi, Himachal Pradesh, complex, which has 127,840 square meters of industrial space, has a machine shop and captive foundry in addition to fabrication and assembly units for tractors, pick-and-carry cranes, and other machinery.
According to the RHP, Action Construction Equipment (P/E of 47.42) and Escorts Kubota (P/E of 36.79) are the company's listed peers.
As of fiscal 2024, the company's operating revenue was ₹375.2 crore, with a PAT of ₹15.5 crore.
Details of the Indo Farm Equipment IPO
A fresh issue of up to 8.6 million equity shares and an offer for sale (OFS) of up to 3.5 million equity shares by Promoter Selling Shareholder Ranbir Singh Khadwalia are part of the Chandigarh-based company's initial public offering (IPO).
A total of Rs. 35.1 crore was raised by the firm through the pre-IPO issuance of 1.9 million equity shares at a price of ₹185 each. Consequently, the new issue's size has been lowered from 10.5 million shares to 8.6 million shares.
The net proceeds from the new share sale will be used by the company to build a new facility specifically for expanding the manufacturing capacity of Pick & Carry Cranes (worth ₹70 crore), pay back or prepay all or part of the ₹50 crore in specific borrowings that the company has taken out, invest another ₹45 crore in its NBFC subsidiary (Barota Finance) to strengthen its capital base for future needs, and use the remaining funds for general corporate purposes.
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