Indo Farm Equipment Share Price Hits 52-Wk High; Up 3%

Shares of Indo Farm Equipment were trading 2.84% higher at ₹281.45 at 11:45 AM on the NSE. The stock opened at ₹276.44, up from the previous close of ₹273.69. During early trade, the stock price scaled a fresh 52-week high of ₹293.20 today. The surge follows the company’s strong stock market debut in the previous session.

On January 7, Indo Farm Equipment made its debut on the stock exchanges. Shares of the company closed with a premium of over 27% against the issue price of ₹215.

Subscription and IPO Details

The ₹260-crore initial public offering (IPO) of Indo Farm Equipment saw an impressive subscription of 227.57 times on its final bidding day. Priced between ₹204 and ₹215 per share, the IPO included a fresh issue of 86 lakh equity shares and an offer for sale (OFS) of 35 lakh shares by promoter Ranbir Singh Khadwalia.

The funds raised from the IPO will be used to expand the company’s manufacturing capacity for pick-and-carry cranes, reduce debt, and strengthen its capital base through an investment in its NBFC subsidiary, Barota Finance.

About Indo Farm Equipment

Indo Farm Equipment is a leading Indian manufacturer specialising in agricultural and construction equipment. The company is known for its high-quality pick-and-carry cranes, tractors, and various machinery used in farming, construction, and industrial sectors.

With a strong focus on innovation and technology, Indo Farm aims to provide cost-effective, durable, and efficient solutions to its customers. The company’s products are designed to meet the growing demands of the agricultural and construction industries. It also has a notable presence in financing through its subsidiary, Barota Finance.

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