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At the end of the final day of bidding, the Qualified Institutional Buyers (QIBs) segment was subscribed 242.40 times, while the Non-Institutional Investors (NIIs) segment saw an overwhelming response with a subscription of 501.65 times. Retail investors also showed significant enthusiasm, subscribing to their allocated portion 101.64 times.
Investors who bid in this mainboard issue can check the allotment status via the official websites of BSE, NSE and the registrar.
How to Check Indo Farm Equipment IPO Allotment Status
Investors can verify their allotment status through the BSE website or Mas Financial Services Ltd, the IPO registrar.
Steps to check Indo Farm Equipment IPO on the BSE website:
1. Visit the BSE IPO allotment page.
2. Select ‘Equity’ as the issue type.
3. Choose ‘Indo Farm Equipment’ from the dropdown menu.
4. Enter your application number or PAN.
5. Click ‘Search’ to view your status.
Steps to check Indo Farm Equipment IPO on the Mas Financial Services Ltd. website:
1. Visit the IPO allotment page of Mas Financial Services Ltd.
2. Select ‘Indo Farm Equipment’ from the dropdown menu.
3. Provide details like PAN or DP/Client ID.
4. Click ‘Submit’ to check your status.
Investors can also check the Indo Farm Equipment IPO allotment on the NSE website by logging in to their account or creating a new registration.
Shares of Indo Farm Equipment will be credited to successful applicants’ demat accounts, and refunds will be initiated for those who did not receive allotments on Jan 6.
Indo Farm Equipment IPO Details
Before the IPO launch, Indo Farm Equipment raised ₹78.04 crore through its anchor book from 11 institutional investors.
The Indo Farm Equipment IPO comprised a fresh issue of ₹185 crore and an Offer for Sale (OFS) of 35 lakh shares, totalling ₹260 crore.
The funds raised from Indo Farm Equipment’s IPO will be utilised for multiple purposes. Around ₹50 crore will be allocated for the repayment or prepayment of borrowings, while ₹45 crore will be invested in its NBFC subsidiary, Barota Finance, to bolster its capital base for future growth. The remaining proceeds will be used for general corporate purposes, supporting the company’s overall business objectives.
About the Company
Founded in 1994, Indo Farm Equipment is a leading manufacturer of tractors and pick-and-carry cranes. It also produces other agricultural equipment, including Harvester Combines, Rotovators, and related spares, although these contribute minimally to overall revenue. The company exports its products to multiple countries.
For fiscal year 2024, Indo Farm Equipment reported revenue of ₹375 crore and a net profit of ₹15.5 crore.
