Indo Farm shares fall nearly 5% today

Shares of Indo Farm Equipment Ltd witnessed a dip of nearly 5% today, extending the downtrend since its listing on January 7, 2025, where the stock debuted at ₹256, marking a 19% premium over its IPO price of ₹215. Despite its promising start, the stock has fallen nearly 6% since its debut.

IPO Performance and Highlights:

• Issue Size: The ₹260.15 crore IPO included:
  • Fresh issue of 86 lakh equity shares.
  • Offer-for-sale (OFS) of 35 lakh equity shares by promoter Ranbir Singh Khadwalia.
• Subscription: The IPO was oversubscribed 227.57 times on its final day.
• Price Band: Shares were priced between ₹204-₹215 per share.

Utilization of IPO Proceeds:

1. Expansion of Manufacturing Capacity: Funds are earmarked to establish a dedicated unit for enhancing pick-and-carry crane production.
2. Debt Reduction: A significant portion will be used to repay the company’s existing debt.
3. Investment in NBFC Subsidiary: Barota Finance, Indo Farm’s NBFC arm, will utilize funds to augment its capital base and meet future requirements.