I think the most exciting IPO this year will be Indo Farm Equipment IPO. This IPO is considered to be a small-cap, Mainboard IPO. Indo Farm Equipment IPO will open for subscription on 31st Dec 2024, and the bidding will close on 2nd Jan 2025. The Allocation of the shares is on 3rd Jan 2024, and refund and credit of shares will begin on 6th Jan 2024.
Considering to be a small-cap company the issue size is ₹260cr. The price range of bidding is from ₹204(Min) to ₹215(Max). You have to bid for a minimum of 69 shares which makes your minimum bidding amount be ₹14835. Be with me till the end to know all the details about Indo Farm Equipment IPO, its GMP, Overview, valuation, and more.
Indo Farm Overview
Indo Farm was incorporated in 1994 and its headquarters are in Solan, H.P., India. Indo Farm’s main business was in the manufacturing of tractors, cranes, rotary tillers, and harvesters. The total market capitalization of Indo Farm Equipment Is ₹1,033 Cr. The company has its subsidiary called Indo Power which together exports agriculture equipment to the markets of Nepal, Bangladesh, Myanmar, Syria, and Sudan. The Himachal Pradesh manufacturing facility was around 1,27,840 square meters, which included a machine shop, assembly units, and foundry. Indo farm manufactures ISO-certified tractors which power range from 20 HP to 110 HP. Also, their production capacity was 18,000 tractors, 2,400 cranes, and 20,000 engines per year. And the main objective of the IPO is to set up a new manufacturing facility for the cranes.
Indo Farm IPO Objective
You can evaluate for investment for any IPO based on where the company is going to use its funds which are raised via IPO. So, here are the following objectives of Indo Farm IPO to utilize the IPO funds:-
- Indo Farm Equipment IPO’s primary objective was to utilize the funds to set up a new manufacturing facility for a pick-n-carry crane(with a capacity ranging from 9 tons to 30 tons).
- The second objective is to reduce the debt by repayment of Borrowings.
- Indo Farm also utilizes funds for investment in its NBFC subsidiary Barota Finance.
- Also, funds are used for the general corporate purpose.
Indo Farm Equipment IPO Details, Important Dates
| Stock Symbol | INDOFARM |
| Industry | Automobile |
| Issue Size | ₹260 Cr |
| Lot Size | 69 |
| Price Range | ₹ 204 – 215 |
| Bid Start Date | 31st Dec 2024 |
| Bid End Date | 02nd Jan 2025 |
| Allotment Date | 03rd Jan 2025 |
| Refund and Share Credit Date | 06 Jan 2025 |
| Listing Date | 07 Jan 2025 |
| Mandate End Date | 17 Jan 2025 |
| Lock-in end Date | 04 Arp 2025 |
| Prospectus | Download |
Indo Farm GMP, Kostak Trends, Sauda
| Date | GMP Price | Trend | Kostak | Subject to Sauda |
| 2 Jan 2025 (Closed) | ₹ 90 | – | – | 4700/65800 |
| 1 Jan 2025 | ₹ 90 | 📉 | 4700/65800 | |
| 31-Dec 2024 | ₹ 95 | 📈 | – | 5000/70000 |
| 30-Dec 2024 | ₹ 80 | – | – | 4200/58800 |
| 29-Dec 2024 | ₹ 80 | – | – | 4200/58800 |
| 28-Dec 2024 | ₹ 80 | 📉 | – | 4200/58800 |
| 27-Dec 2024 | ₹ 85 | – | – | 4500/63000 |
| 26-Dec 2024 | ₹ 85 | 📈 | – | 4500/63000 |
| 25-Dec 2024 | ₹ 55 | 📈 | – | 2900/40600 |
| 24-Dec 2024 | ₹ 21 | 📈 | – | 1100/15400 |
It is advised not to trade in the gray market as it is not legal. But you can consider this price for education purposes to evaluate any IPO.
Indo Farm Finances
All the valuations are in crores(Cr) INR. The source of the information is from Screener. If you want to see more detail on the IPO then follow my blog here.