Indo Farm Equipment Limited IPO
Indo Farm Equipment Limited IPO
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The Initial Public Offering of Indo Farm Equipment Limited's culminated in its successful listing on 07-01-2025 at the NSE, BSE trading platform. The company secured 1,21,00,000 Shares through this capital market exercise, with 86,00,000 Shares allocated to new capital formation and ₹75.25 Cr to existing shareholder liquidity.
Investors participated within the price parameters of ₹204 to ₹215, with minimum investment requirements of 69 shares. The subscription period from 31-12-2024 to 02-01-2025 witnessed active investor engagement across categories.
Following the subscription closure, share allotment was processed on 03-01-2025. The subsequent listing established a public market for the company's shares, enabling price discovery and secondary market trading for investors.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Indo Farm IPO About Company
Incorporated in 1994, Indo Farm Equipment Limited manufactures tractors, pick & carry cranes, and other harvesting equipment under the brands Indo Farm and Indo Power. The company produces tractors from 16 HP to 110 HP and cranes with capacities of 9 to 30 tons at its Baddi, Himachal Pradesh facility, which spans 127,840 sq. meters and includes a captive foundry, machine shop, and assembly units, with annual capacities of 12,000 tractors and 1,280 cranes. To meet growing demand, it has acquired additional land to expand crane production by 3,600 units annually. Indo Farm exports to Nepal, Syria, Sudan, Bangladesh, Myanmar, and other countries, and employs 938 people as of June 30, 2024.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Indo Farm IPO Strength Factors
- Integrated Operations: Captive foundry, machine shop, and assembly units ensure efficient, high-quality production.
- Diverse Product Portfolio: Wide range of tractors (16–110 HP) and pick-and-carry cranes (9–30 tons) catering to varied customer needs.
- Strategic Expansion: Additional industrial land to increase crane production by 3,600 units annually, supporting growth potential.
Indo Farm IPO Risk Factors
- Legal Proceedings: Ongoing cases involving the company, promoters, directors, and subsidiaries may impact operations if resolved unfavorably.
- Revenue Dependency: Heavy reliance on tractor and crane sales exposes the company to demand fluctuations and manufacturing disruptions.
- Regulatory Compliance: Inability to obtain or maintain statutory approvals could adversely affect operations and financial performance.
Indo Farm IPO Lead Manager(s)
- Aryaman Financial Services Limited
Indo Farm IPO Promoter(s)
- Ranbir Singh Khadwalia
- Sunita Saini
Indo Farm IPO FAQs
Indo Farm Equipment Limited IPO subscribed 229.68 times. The public issue subscribed 104.92 times in the retail category,242.4times in QIB, and 548.13 times in the HNI (10+) category byNovember 13, 2025 12:36:07 PM (Day 13).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Indo Farm IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Indo Farm IPO FAQs
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The basis of allotment for Indo Farm Equipment Limited IPO is available now.
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