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Indo Farm Equipment IPO Allotment: Issue booked over 227 times on day 3; Here's how to check status online

Indo Farm Equipment IPO Allotment: Issue booked over 227 times on day 3; Here's how to check status online

Indo Farm Equipment IPO Allotment: Issue booked over 227 times on day 3; Heres how to check status online
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2 Jan 2025 8:56 PM IST

The mainboard IPO of Indo Farm Equipment has garnered massive interest, being subscribed 227.42 times overall. The ₹260.15 crore issue was available for bidding from December 31 to January 2, and shares are set to be listed on the NSE and BSE on January 7.

Indo Farm Equipment IPO Allotment Expected on January 3

Indo Farm Equipment Limited is expected to finalize the share allotment for its initial public offering (IPO) on Friday, January 3, following a robust subscription predominantly driven by Non-Institutional Investors (NIIs). The mainboard issue, worth ₹260.15 crore, was open for bidding from December 31 to January 2.

As of the close of bidding on January 2, the IPO was subscribed 227.57 times. According to NSE data, the IPO received bids for over 192.62 crore shares against the 84.7 lakh shares on offer.

The highest demand came from NIIs, who booked their segment more than 501 times. This category received bids for over 91.03 crore shares against the 18.15 lakh shares available. The retail quota was subscribed 101.36 times, with applications for over 42.92 crore shares against 42.35 lakh shares reserved for retail investors. Qualified Institutional Buyers (QIBs) placed bids for 58.65 crore shares against the 24.2 lakh shares available, with the segment booked over 242 times.

Successful IPO investors will be notified of their share allocation through SMS and emails. Additionally, investors can check the allotment status on the websites of NSE, BSE, and the IPO registrar, Mas Services Limited.

How to Check Indo Farm Equipment IPO Allotment Status

On Mas Services Website:

Open the Mas Services Limited portal: Mas Services Limited

Click on ‘IPO Allotment Status’

Select either Search on Dp_ID/Client ID or PAN

Enter the details as per your selection

Select Indo Farm Equipment Ltd as the issue name

Submit to check the IPO allotment status

Note: The allotment status will be available only after the finalization of share allocation by the company.

On NSE Website:

Open the IPO allotment status page on the NSE website: NSE IPO Allotment Status

Log in with your username and password (new investors need to register on the NSE website)

Select Indo Farm Equipment as the issue name

Verify PAN

Enter IPO application number

Click on Submit

Investors can also check the IPO allotment status on the BSE website using their PAN and application number.

Indo Farm Equipment IPO Details

Indo Farm Equipment manufactures tractors and pick-and-carry cranes. The company also produces farm equipment like harvester combines, rotavators, and other spares and components.

The company has integrated manufacturing facilities at Baddi, Himachal Pradesh, including a captive foundry unit, dedicated machine shop, fabrication, and assembling units for tractors, pick-and-carry cranes, and other equipment. Indo Farm Equipment exports products to Bangladesh, Nepal, Myanmar, Sudan, and Syria, among other countries.

Key Details of the IPO:

The IPO comprised a fresh issue of 86 lakh equity shares and an offer-for-sale (OFS) component of 35 lakh shares.

The IPO price band was set at ₹204 to ₹215 per share.

The minimum lot size was 69 shares, aggregating to a minimum investment of ₹14,835 for retail investors.

The company will initiate refunds and transfer shares to Demat accounts on January 6.

The IPO listing is scheduled for January 7, with shares to be listed on NSE and BSE.

Utilization of IPO Proceeds

Indo Farm Equipment Ltd plans to utilize ₹71.1 crore of the IPO funds to set up a new unit to increase the manufacturing capacity of pick-and-carry cranes. Additionally, ₹50 crore will be used for repayment or pre-payment of certain loans, and ₹45 crore will be invested in its NBFC subsidiary, Barota Finance Ltd.

Financial Performance

For the April-June period of FY25, Indo Farm Equipment reported a total income of ₹75.53 crore, with a profit after tax (PAT) of ₹2.45 crore. For the financial year ending March 31, 2024, the company’s total income was ₹375.95 crore, up from ₹371.81 crore the previous year. The net profit for FY24 was ₹15.6 crore, compared to ₹15.37 crore in FY23.

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