Indo Farm Equipment IPO - Day 3 Subscription at 85.49 Times

Indo Farm Equipment's initial public offering (IPO) has received exceptional investor interest over the three-day period. The IPO witnessed remarkable growth in demand, with subscription rates progressing from 17.87 times on day one, to 54.74 times on day two, and reaching an impressive 85.49 times by 11:29 AM on the final day.

Indo Farm Equipment IPO which opened on 31st December 2024, has seen outstanding participation across categories. Non-Institutional Investors have shown extraordinary interest, reaching 233.66 times subscriptions, while Retail Investors achieved strong subscriptions at 63.93 times. The QIB portion stands at 12.09 times.

This robust response comes amid positive sentiment in the Indian stock market, particularly towards companies in the agricultural equipment and manufacturing sector.

Subscription Status of Indo Farm Equipment IPO:

*As of 11:29 AM

Here are the subscription details for Indo Farm Equipment IPO as of Day 3 (2nd January 2025, 11:29 AM):

Total Applications: 36,59,075

Note:

• "Shares Offered" and "Total Amount" are calculated based on the upper price of the issue price range.
• The portions of anchor investors are not included in the total shares offered.

Key Highlights of Indo Farm Equipment IPO - Day 3 Subscription

• Overall subscription reached extraordinary 85.49 times on the final day
• Non-Institutional Investors achieved remarkable 233.66 times subscription
• Large NII segment leading with exceptional 244.38 times subscription
• Small NII segment reached impressive 212.21 times subscription
• Retail investors showing strong interest at 63.93 times
• QIB portion improved to 12.09 times
• Total bids worth ₹15,568.38 crores received
• Applications reached 36,59,075 showing massive interest
• All categories demonstrating significant oversubscription

Indo Farm Equipment IPO - Day 2 Subscription at 54.74 Times

• Overall subscription surged to 54.74 times
• Non-institutional investors reached strong 132.03 times
• Large NII segment achieved 130 times subscription
• Small NII segment crossed 136.08 times
• Retail investors improved to 46.07 times
• QIB portion grew to 11.96 times
• Market response showing accelerated momentum
• Day two witnessed substantial growth
• Strong institutional participation continuing
   

Indo Farm Equipment IPO - Day 1 Subscription at 17.87 Times

Key Highlights:

• Overall subscription opened strong at 17.87 times
• Non-institutional investors began well at 28.68 times
• Small NII segment achieved 35.73 times subscription
• Large NII segment reached 25.15 times
• Retail investors showed robust interest at 18.82 times
• QIB portion started strong at 8.10 times
• Opening day demonstrated exceptional response
• Market confidence evident across categories
• Strong initial momentum across segments
   

About Indo Farm Equipment Limited

Incorporated in 1994, Indo Farm Equipment Limited is a prominent manufacturer of tractors, pick-and-carry cranes, and other harvesting equipment. Operating under the brands Indo Farm and Indo Power, the company exports its products to countries such as Nepal, Syria, Sudan, Bangladesh, and Myanmar.

The company offers a diverse product portfolio, including tractors ranging from 16 HP to 110 HP and pick-and-carry cranes with capacities from 9 to 30 tons. The manufacturing facility, located in Baddi, Himachal Pradesh, spans 127,840 square meters and includes a foundry, machine shop, and assembly units. Indo Farm Equipment boasts an annual production capacity of 12,000 tractors and 1,280 pick-and-carry cranes.

In addition to its established manufacturing setup, the company is expanding its capacity by acquiring additional industrial land near its current facility to build a new pick-and-carry crane manufacturing unit. This expansion aims to increase crane production capacity by 3,600 units per year.

The company has shown steady growth, with revenue increasing by 1% and Profit After Tax (PAT) rising by 1% between FY2023 and FY2024. 

Highlights of the Indo Farm Equipment IPO:

• IPO Type: Book Built Issue IPO
• IPO Size: ₹260.15 crores
• Fresh Issue: 86,00,000 shares (₹184.90 crores)
• Offer for Sale: 35,00,000 shares (₹75.25 crores)
• Price Band: ₹204 to ₹215 per share
• Face Value: ₹10 per share
• Lot Size: 69 shares
• Minimum Investment Retail Investors: ₹14,835 (1 lot)
• Minimum Investment HNI Investors: ₹2,07,690 (14 lots for sNII) / ₹10,08,780 (68 lots for bNII)
• Listing at: BSE, NSE
• IPO Open Date: December 31, 2024
• IPO Close Date: January 2, 2025
• Allotment Date: January 3, 2025
• Refund Initiation: January 6, 2025
• Credit of Shares: January 6, 2025
• Listing Date: January 7, 2025
• Lead Manager: Aryaman Financial Services Limited
• Registrar: Mas Services Limited