Indo Farm Tools IPO: Raised ₹78 crore from anchor traders, public challenge of ₹260 crore will open on 31 December – INA NEWS

Indo Farm Tools IPO: The general public challenge of Rs 260.15 crore of tractor and crane maker Indo Farm Tools goes to open on December 31. Earlier than the IPO, the corporate raised Rs 78.04 crore from 11 institutional traders. “…allocation of 36.3 lakh fairness shares to anchor traders at a value of Rs 215 per fairness share has been finalized,” the corporate stated in a inventory alternate submitting. Negen Undiscovered Worth Fund was the biggest anchor investor. It purchased 6.97 lakh shares price Rs 15 crore. This was adopted by Niveshaye Hedgehogs Fund and Rajasthan International Securities, which invested Rs 10 crore every.

Aside from this, Shubham Capital purchased shares price Rs 7 crore and India Fairness Fund purchased shares price Rs 6 crore. Chhattisgarh Investments, Cent Capital Fund, Vikas India, Ashika International Securities, Shine Star Construct Cap and Sensible Horizon Alternative Fund invested Rs 5 crore every.

Value band and itemizing date

The closing of Indo Farm Tools IPO can be on January 2, 2025. After this, the allotment can be ultimate on January 3 and the itemizing of shares will happen on BSE, NSE on January 7. The worth band for bidding is Rs 204-215 per share and the lot measurement is 69 shares. Aryaman Monetary Providers Restricted is the guide working lead supervisor for the IPO. The registrar is Mas Providers Restricted. Within the grey market, the corporate’s shares are buying and selling at a premium of Rs 80 or 37.21% to the higher value band of Rs 215 of the IPO.

What does the corporate make?

The corporate manufactures tractors, different harvesting gear and choose and carry cranes. It’s operational underneath two model names – Indo Farm and Indo Energy. Indo Farm Tools merchandise are additionally exported to Nepal, Syria, Sudan, Bangladesh, Myanmar and so forth. The promoters of the corporate are Ranbir Singh Khadwalia and Sunita Saini. The corporate began its operations within the yr 2000.

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35.15 crores had been raised in pre-IPO placement

Indo Farm Tools had raised Rs 35.15 crore via 19 lakh shares at a value of Rs 185 per share in a pre-IPO placement. After this, the scale of the difficulty of latest shares within the IPO has been diminished from 1.05 crore shares to 86 lakh shares. These shares are price Rs 184.90 crore. Aside from this, there may be additionally a suggestion on the market of 35 lakh shares price Rs 75.25 crore within the IPO.

A complete of 13 traders participated within the pre-IPO placement, together with Hathor Company Advisors, Personal Infracon, Nabs Vriddhi, FinAvenue Progress Fund, Niveshay Hedgehogs and VM Finserv & Asset Administration.

How will the IPO cash be used?

50 p.c of the IPO is reserved for certified institutional consumers, 35 p.c for retail traders and 15 p.c for non-institutional traders. The proceeds from the difficulty of recent shares within the IPO can be used for organising a brand new devoted unit for choose and carry cranes, compensation of debt in full or partially, funding in NBFC subsidiary Barota Finance and for basic company functions. .

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Monetary place of Indo Farm Tools

Indo Farm Tools’s income elevated by 1% to Rs 375.95 crore in FY 2023-24. A yr in the past it was Rs 371.82 crore. In the meantime, internet revenue additionally elevated by 1% to Rs 15.6 crore, which was Rs 15.37 crore in FY2023. Within the April-June 2024 interval, the corporate’s income was Rs 75.54 crore and internet revenue was Rs 2.45 crore.