Indo Farm Equipment IPO Allotment Status To Be Finalised on Jan 3: Did You Check?

Indo Farm Equipment IPO allotment is set to be finalised on Friday, January 3. The shares of Indo Farm Equipment Limited will be listed on the BSE and BSE on January 7.

Investors can check the Indo Farm Equipment IPO allotment status on the official websites of the BSE, NSE, or the registrar. They can also access the status via their NSE website account or by creating a new registration. In addition, the successful applicants will have their shares credited to their demat accounts, while refunds will be processed for non-allottees on January 6.

Indo Farm Equipment IPO Details

The Indo Farm Equipment IPO was opened for bidding from December 31, 2024, to January 2, 2025, which saw decent demand, with the overall subscription reaching 227.57 times by the last day of bidding. The price band was set between ₹204 and ₹215 per share.

At the close of bidding, the Qualified Institutional Buyers (QIBs) segment was subscribed 242.40 times, while the Non-Institutional Investors (NIIs) segment saw an exceptional response, with a subscription of 501.65 times. Retail investors also showed strong interest, subscribing to their allocated portion 101.64 times.

The IPO consisted of a fresh issue of ₹185 crore and an Offer for Sale (OFS) of 35 lakh shares, bringing the total size to ₹260 crore.

Use of IPO Proceeds

Funds raised from the IPO will be used for several purposes. Around ₹50 crore will go towards repaying or prepaying borrowings, ₹45 crore will be invested in the company’s NBFC subsidiary, Barota Finance, to strengthen its capital base for future expansion, and the remaining funds will support general corporate objectives.

About Indo Farm Equipment

Indo Farm Equipment is a prominent manufacturer of tractors and pick-and-carry cranes. The company also produces various agricultural equipment, including Harvester Combines, Rotovators, and related spares, although these contribute minimally to overall revenue. Indo Farm Equipment exports its products to several countries.

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