Indo Farm Equipment IPO GMP today: The initial public offering (IPO) of Indo Farm Equipment is set to open for subscription next week on Tuesday, 31 December, and will remain so until Thursday, 2 January.
The ₹260.15 crore IPO of Indo Farm Equipment is a combination of fresh share sale of 0.86 crore shares aggregating to ₹184.80 crore and an offer for sale of 0.35 crore shares worth ₹75.25 crore.
Indo Farm Equipment IPO price band is fixed at ₹204 to ₹215 per share. Investors can apply for the IPO in a lot of 69 shares and its multiples thereafter, with a minimum investment requirement of ₹14,835 by retail investors.
While Indo Farm Equipment IPO will open for subscription on Tuesday, the bidding for anchor investors will take place on Monday, 30 December, a day prior. The allotment of Indo Farm Equipment IPO shares is expected on Friday, 3 January, with the credit of shares in the demat account of allottees likely on Monday, 6 January. The refund is also expected to take place on the same day. Lastly, shares of Indo Farm Equipment IPO will list on NSE and BSE on Tuesday, 7 January.
Indo Farm Equipment IPO GMP today
Indo Farm Equipment IPO GMP today stood at ₹85 apiece. This means that shares of Indo Farm Equipment are trading ₹85 higher than the issue price of ₹215. The GMP for Indo Farm Equipment has seen a stellar increase over the last few days.
On Tuesday, 24 December, the GMP stood at ₹21. From there, it has risen to ₹85 currently.
Considering the prevailing GMP and the upper end of the IPO price, Indo Farm Equipment shares could list at a premium of nearly 40 per cent on BSE and NSE.
Indo Farm Equipment IPO Objective
The company plans to raise ₹70 crore via fresh proceeds for setting up a new dedicated unit for the expansion of pick and carry crane manufacturing capacity. Additionally, it plans to deploy ₹50 crore for payment of certain corporate borrowings, ₹45 crore for investment in its NBFC subsidiary, and the remaining for general corporate purposes.
About Indo Farm Equipment
Incorporated in 1994, Indo Farm Equipment is engaged in the manufacturing of tractors and pick & carry cranes. The company also deals in other farm equipment such as harvester combines, rotavators, and other related spares and components.
The company’s manufacturing facilities are spread across 127,840 sq. metres at Baddi, Himachal Pradesh. As of 30 September 2024, its production facilities had a capacity to manufacture 12,000 tractors per annum and 1,280 pick & carry cranes per annum.
For the financial year ended March 2024, the company reported a 1.2 per cent increase in revenue from operations to ₹375.23 crore, compared to ₹370.75 crore. Meanwhile, its profit for the same period stood at ₹15.59 crore, compared to ₹15.37 crore year-on-year.
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