The allotment status for Indo Farm Equipment Limited’s initial public offering (IPO) is expected to be finalized on Friday, January 3, following an overwhelming response from investors. The ₹260.15 crore IPO, which ran from December 31 to January 2, garnered massive subscription, especially from Non-Institutional Investors (NIIs).
Subscription Details
The IPO was oversubscribed 227.57 times overall, receiving bids for 192.62 crore shares against 84.7 lakh shares on offer:
- NIIs: Subscribed 501.65 times with bids for 91.03 crore shares.
- Retail Investors: Subscribed 101.36 times with 42.92 crore shares bid.
- Qualified Institutional Buyers (QIBs): Subscribed 242.40 times with 58.65 crore shares bid.
How to Check Allotment Status
Investors can verify their allotment status via the registrar, Mas Services Limited, or on NSE and BSE websites.
Steps on Mas Services website:
- Visit Mas Services website.
- Click on ‘IPO Allotment Status.’
- Enter Dp-ID/Client ID or PAN and select Indo Farm Equipment Ltd.
- Submit to check allotment.
Steps on NSE website:
- Visit the NSE IPO page.
- Log in or register.
- Enter PAN, application number, and select Indo Farm Equipment Ltd.
- Click Submit to view allotment status.
IPO Key Highlights
- Price Band: ₹204-₹215 per share.
- Lot Size: 69 shares, with a minimum investment of ₹14,835.
- Allotment Date: January 3, 2025.
- Refunds and Demat Transfer: January 6, 2025.
- Listing Date: January 7, 2025, on NSE and BSE.
Use of Proceeds
The funds raised through the IPO will be allocated as follows:
- ₹71.1 crore for setting up a new unit to expand crane manufacturing capacity.
- ₹50 crore for debt repayment or prepayment.
- ₹45 crore for investment in its NBFC subsidiary, Barota Finance Ltd.
Financials
For FY24, the company reported a total income of ₹375.95 crore, up from ₹371.81 crore in FY23, with a profit of ₹15.6 crore. In the April-June period of FY25, the company recorded an income of ₹75.53 crore and a profit of ₹2.45 crore.
Promoter Shareholding
- Pre-Issue: 93.45%
- Post-Issue: 69.44%
