About Indo Farm Equipment Limited
Incorporated in 1994, Indo Farm Equipment Limited is engaging in manufacturing Tractors, Pick & Carry Cranes, and other harvesting equipment.
The Company operates two brands: Indo Farm and Indo Power, They export their products to countries like Nepal, Syria, Sudan, Bangladesh, Myanmar, etc.
The Company manufactures tractors range 16 HP to 110 HP and pick & carry cranes range 9 to 30 tons. The facility in Baddi, Himachal Pradesh, spans 127,840 sq. meters and includes a foundry, machine shop, and assembly units. The Company has 12000 tractors and 1,280 Pick & Carry Cranes production capacity annually.
The Company spans 127,840 sq. meters of industrial land in Baddi, Himachal Pradesh, housing a captive foundry, machine shop, and fabrication and assembly units for tractors, pick & carry cranes, and other equipment.
They have acquired additional industrial land near the current facility to build a new pick & carry crane manufacturing unit, aiming to increase capacity by 3,600 units per year.
As of June 30, 2024, They had 938 employees on payroll.
Competitive Strengths:
- Fully Integrated and established Manufacturing Setup
- Well Educated & Experienced Management
- In-House NBFC Setup
- Manufacturing Wide Range of Products
- Product acceptability in multiple countries and a wide variety of financial institutions
Indo Farm Equipment IPO Details
| IPO Date | December 31, 2024 to January 2, 2025 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹204 to ₹215 per share |
| Lot Size | 69 Shares |
| Total Issue Size | 1,21,00,000 shares (aggregating up to ₹260.15 Cr) |
| Fresh Issue | 86,00,000 shares (aggregating up to ₹ 184.90 Cr) |
| Offer for Sale | 35,00,000 shares of ₹10 (aggregating up to ₹75.25 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 3,94,51,600 shares |
| Share Holding Post Issue | 4,80,51,600 shares |
Indo Farm Equipment IPO Timeline (Tentative Schedule)
Indo Farm Equipment IPO IPO opens on December 31, 2024, and closes on January 2, 2025.
| IPO Open Date | Tuesday, December 31, 2024 |
| IPO Close Date | Thursday, January 2, 2025 |
| Basis of Allotment | Friday, January 3, 2025 |
| Initiation of Refunds | Monday, January 6, 2025 |
| Credit of Shares to Demat | Monday, January 6, 2025 |
| Listing Date | Tuesday, January 7, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on January 2, 2025 |
Indo Farm Equipment IPO Lot Size
Investors can bid for a minimum of 69 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 69 | ₹14,835 |
| Retail (Max) | 13 | 897 | ₹1,92,855 |
| S-HNI (Min) | 14 | 966 | ₹2,07,690 |
| S-HNI (Max) | 67 | 4,623 | ₹9,93,945 |
| B-HNI (Min) | 68 | 4,692 | ₹10,08,780 |
| Lot Size Calculator | |||
Indo Farm Equipment IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Indo Farm Equipment IPO Promoter Holding
Ranbir Singh Khadwalia and Sunita Saini are the promoters of the company.
| Share Holding Pre Issue | 93.45% |
| Share Holding Post Issue | 69.44% |
Indo Farm Equipment IPO is a book built issue of Rs 260.15 crores. The issue is a combination of fresh issue of 0.86 crore shares aggregating to Rs 184.90 crores and offer for sale of 0.35 crore shares aggregating to Rs 75.25 crores.
Indo Farm Equipment IPO opens for subscription on December 31, 2024 and closes on January 2, 2025. The allotment for the Indo Farm Equipment IPO is expected to be finalized on Friday, January 3, 2025. Indo Farm Equipment IPO will list on BSE, NSE with tentative listing date fixed as Tuesday, January 7, 2025.
Indo Farm Equipment IPO price band is set at ₹204 to ₹215 per share. The minimum lot size for an application is 69. The minimum amount of investment required by retail investors is ₹14,835. The minimum lot size investment for sNII is 14 lots (966 shares), amounting to ₹2,07,690, and for bNII, it is 68 lots (4,692 shares), amounting to ₹10,08,780.
Company Financials
Indo Farm Equipment Limited Financial Information (Restated Consolidated)
Indo Farm Equipment Limited’s revenue increased by 1% and profit after tax (PAT) rose by 1% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | ||||||||||||||||||||||||||||||||||||
| 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 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
The market capitalization of Indo Farm Equipment IPO is Rs 1033.11 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| ROE | 5.13% |
| ROCE | 8.96% |
| Debt/Equity | 0.01 |
| RoNW | 4.92% |
| PAT Margin | 4.16 |
| Price to Book Value | 2.55 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 3.95 | 2.04 |
| P/E (x) | 54.39 | 105.25 |
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of June 30, 2024 that is available in RHP.
Objects of the Issue (Indo Farm Equipment IPO Objectives)
The Objects of the Net Fresh Issue is to raise funds for:
- Setting up new Dedicated Unit for Expansion of their Pick & Carry Cranes Manufacturing Capacity
- Repayment or pre-payment, in full or part, of certain borrowings availed by the Company
- Further Investment in NBFC Subsidiary (Barota Finance Ltd.) for financing the augmentation of its capital base to meet its future capital requirements.
- General Corporate Purposes
