IPO of this big company will open on 31st December, know every detail

Upcoming IPO: The month of December has been very busy in terms of the IPO market. This month, IPOs of 19 companies have been opened one after the other for investment. The name of another company has been included in this list. This is Indo Farm Equipment IPO. This issue will open in the last week of December and the last day of the year. According to Red Herring Prospects (RHP), the Indo Farm Equipment IPO will open for subscription on Tuesday, December 31 and will close on January 2. Applications for anchor investors for Indo Farm Equipment IPO will start from December 30. The company may announce the IPO price band soon.

what are the details
Indo Farm Equipment, a fully integrated manufacturer of tractors and pick and carry cranes, is likely to be listed on BSE and NSE. The Chandigarh-based company’s IPO includes an offer to sell 86 lakh new equity shares and 35 lakh equity shares by promoter selling shareholder Ranbir Singh Khadwalia. The company paid Rs. 185 has made pre-IPO placement of a total of 19 lakh equity shares. 35.1 crores. That means the issue size has been reduced from 1.05 crore equity shares to 86 lakh equity shares. Aryaman Financial Services Limited is the book running lead manager to the issue.

Business of the company established in the year 1994
Indo Pharma Equipment is active in manufacturing tractors, pick and carry cranes and various harvesting machinery. The company operates under two brand names – Indo Farm and Indo Power. The company exports its products to countries including Nepal, Syria, Sudan, Bangladesh and Myanmar. The company manufactures tractors ranging from 16 HP to 110 HP and pick and carry cranes ranging from 9 to 30 tonne capacity. Its plant is located at Baddi, Himachal Pradesh, covering an area of ​​127,840 square meters and comprises a foundry, machine shop and assembly unit. It has the capacity to manufacture 12000 tractors and 1280 pick and carry cranes per year.

corporate planning
The Company intends to utilize the proceeds from the IPO to set up a new dedicated facility to increase the manufacturing capacity of Pick & KP Cranes (Rs 70 crore), partially or prepay or fully repay the special borrowings received Is. Additionally, it will invest in its NBFC subsidiary (Barota Finance Limited) to increase its capital base for future needs. The remaining funds will be used for general corporate purposes.