If you are an IPO investor and make profits by investing money in IPO, then the last IPO of the year is also going to be great for you. Actually, in the last week of the last month of the year 2024, the IPO of Indo Farm Equipment has brought a great earning opportunity for investors. This IPO will open on 31 december 2024 and will close on 2 january 2025. Its listing on BSE and NSE can be done on 7 january 2025.
What does the company do?
Indo Farm Equipment has been manufacturing agricultural equipment like tractors and pick and carry cranes since 1994. Its plant spread in Baddi, himachal pradesh has an annual production capacity of 12,000 tractors and 1,280 cranes. The company exports its products not only in india but also to countries like Nepal, Syria, Sudan, bangladesh and Myanmar.
IPO details
IPO size: Total 260.15 crores
New shares: 184.90 crores
Offer for sale: 75.25 crores
Face value: Rs 10 per share
Price band: Rs 204-215 per share
Lot size: 69 shares
In this IPO, 50% is reserved for qualified institutional buyers (QIBs), 35% for retail investors and 15% for non-institutional investors.
Financial condition of the company
In the financial year 2023-24, the company's revenue increased by 1% to Rs 375.95 crore, while last year it was Rs 371.82 crore. Net profit also increased by 1% to Rs 15.6 crore. During April-June 2024, the company recorded a revenue of Rs 75.54 crore and a net profit of Rs 2.45 crore.
Use of funds raised from IPO
The company will use this amount to set up a new crane unit, repay debt, invest in its NBFC subsidiary Barota Finance and meet general corporate needs.
click and follow Indiaherald WhatsApp channel