Indo Farm Equipment IPO: The listing of shares of tractor and crane maker Indo Farm Equipment on January 7 was not as expected. The share was listed on BSE at Rs 258.40 with just a 20 per cent premium over the IPO upper price band of Rs 115. The share was listed on NSE at Rs 256 with a premium of 19 percent. At the end of trading, the stock settled at Rs 272.70 on BSE with a gain of 5.5 percent. This is 26.84 percent more than the IPO price. The stock settled at Rs 275.49 on NSE with a gain of 7.6 percent. This is 28 percent more than the IPO price.
The company’s public issue of Rs 260.15 crore was opened on December 31 and closed on January 2. The issue was subscribed a total of 227.67 times. The reserve portion for qualified institutional buyers was filled 242.4 times, the reserve portion for non-institutional investors was filled 501.75 times and the reserve portion for retail investors was filled 101.79 times.
What does the company make?
Indo Farm Equipment manufactures tractors, other harvesting equipment and pick and carry cranes. It is operational under two brand names – Indo Farm and Indo Power. Indo Farm Equipment products are also exported to Nepal, Syria, Sudan, Bangladesh, Myanmar etc. The promoters of the company are Ranbir Singh Khadwalia and Sunita Saini. The company started its operations in the year 2000. The proceeds from the issue of fresh shares in the IPO will be used for setting up a new dedicated unit for pick and carry cranes, repayment of debt in full or in part, investment in NBFC subsidiary Barota Finance and for general corporate purposes. .
Technichem Organics IPO Listing: Investors disappointed, shares listed at nominal premium of 4%
Financial position of Indo Farm Equipment
Indo Farm Equipment’s revenue increased by 1% to Rs 375.95 crore in FY 2023-24. A year ago it was Rs 371.82 crore. Meanwhile, net profit also increased by 1% to Rs 15.6 crore, which was Rs 15.37 crore in FY23. In the April-June 2024 period, the company’s revenue was Rs 75.54 crore and net profit was Rs 2.45 crore.
Disclaimer: The information provided here is being given for information only. It is important to mention here that investing in the market is subject to market risks. As an investor, always consult an expert before investing money. Moneycontrol never advises anyone to invest money here.