IPO Details
Bidding Dates
31 Dec 24 - 02 Jan 25
Price Range ₹
204 - 215
Total Equity
₹ 260.15Cr
Lot Size
69
Exchange Status
NSE,BSE
IPO Doc
Subscription Rate
Non-Institutional Investor
104.92×
Qualified Institutional Buyers
242.40×
Employees
0.00×
Retail Investors
104.92×
Total subscription Rate
229.68×
IPO Timeline
Offer start
31 Dec 2024
Offer end
02 Jan 2025
Allotment
03 Jan 2025
Refund initiation
04 Jan 2025
Demat transfer
04 Jan 2025
Listing
07 Jan 2025
Offer start
31 Dec 2024
Offer end
02 Jan 2025
Allotment
03 Jan 2025
Refund initiation
04 Jan 2025
Demat transfer
04 Jan 2025
Listing
07 Jan 2025
About Company
Incorporated in 1994, Indo Farm Equipment Limited specializes in manufacturing tractors, pick-and-carry cranes, and other harvesting equipment under the brands Indo Farm and Indo Power. The company exports its products to several countries, including Nepal, Syria, Sudan, Bangladesh, and Myanmar. Indo Farm offers tractors ranging from 16 HP to 110 HP and pick-and-carry cranes with capacities of 9 to 30 tons. Their manufacturing facility, located in Baddi, Himachal Pradesh, spans 127,840 square meters and includes a captive foundry, machine shop, and assembly units. With an annual production capacity of 12,000 tractors and 1,280 pick-and-carry cranes, the company is expanding further by acquiring additional industrial land near its existing plant to set up a new unit, increasing crane production by 3,600 units annually. As of June 30, 2024, the company employed 938 people. Indo Farm’s competitive strengths include a fully integrated manufacturing setup, a highly educated and experienced management team, an in-house NBFC, a diverse product portfolio, and a strong market presence across multiple countries and financial institutions.
Year Founded
05-10-1994
Promotor Details
Ranbir Singh Khadwalia
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 93.45 | 69.44 |
| Share Capital | 36867640 | 33367640 |
Offer to Public
1,21,00,000.00 Cr
Project Details
- Further Investment in our NBFC Subsidiary (Barota Finance Ltd.) for financing the augmentation - 450cr
- General Corporate Purposes - 29.93cr
- Repayment or pre-payment, in full or part, of certain borrowings availed by our Company - 500cr
- Setting up new Dedicated Unit for Expansion of our Pick - 711.31cr
Objectives
- 1) Setting up new Dedicated Unit for Expansion of our Pick & Carry Cranes Manufacturing Capacity2) Repayment or pre-payment, in full or part, of certain borrowings availed by our Company3) Further Investment in our NBFC Subsidiary (Barota Finance Ltd.) for financing the augmentation of its capitalbase to meet its future capital requirements.4) General Corporate Purposes
Highlights
- An ISO-certified facility in Baddi, equipped with a foundry and assembly units, supports high-quality production standards.
- A robust global footprint in regions like Africa, LATAM, Europe, and Asia positions the company as a trusted international player.
- Through Barota Finance, the company has provided loans totaling ₹127.15 crore to over 5,900 customers, demonstrating strong financial outreach and customer support.
- Dedicated research and development for indigenous tractor and crane designs enhances product innovation and localization.
- The company boasts in-house production of over 330 tractor components and 190 crane components, ensuring better quality control and cost efficiency.
Challenges
- With significant operations concentrated in Himachal Pradesh, the company is exposed to regional risks such as local disruptions or natural calamities.
- Dependence on banks, NBFCs, and Barota Finance for financial operations increases exposure to external funding risks.
- The company's tractor production capacity is constrained due to financing challenges and intense market competition, affecting growth potential.
- Delays in obtaining essential approvals, such as consent to operate and fire safety NOCs, could hinder operational efficiency and expansion.
- The company's revenue is heavily reliant on tractors and cranes, making it vulnerable to fluctuations in these specific markets.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2022 | 6,163.84 | 187.76 | 858.47 | 858.47 | 2.2861 |
| 2020 | 48,140.91 | 938.79 | 858.47 | 858.47 | 2.2861 |
| 2023 | 6,274.78 | 187.76 | 6,04,72,656.00 | 6,04,72,656.00 | 1.6672 |
| 2021 | 54,576.14 | 938.79 | 153.72 | 153.72 | 4.0935 |
| 2024 | 6,523.48 | 375.52 | 137.19 | 135.57 | 3.6102 |
