Indo Farm Equipment IPO GMP: If you might be an IPO investor and earn income by investing cash in IPOs, then the final IPO of the year is additionally going to be nice for you. In reality, the IPO of Indo Farm Equipment has introduced an incredible incomes alternative for buyers in the final week of the final month of the year 2024. This IPO will open on 31 December 2024 and shut on 2 January 2025. Its itemizing on BSE and NSE can occur on 7 January 2025.
what does the firm do
Indo Farm Equipment has been manufacturing agricultural tools like tractors and decide and carry cranes since 1994. Its plant unfold in Baddi, Himachal Pradesh has an annual manufacturing capability of 12,000 tractors and 1,280 cranes. The firm exports its merchandise not solely to India but in addition to international locations like Nepal, Syria, Sudan, Bangladesh and Myanmar.
IPO particulars
IPO dimension: Total Rs 260.15 crore
New shares: 184.90 crore
Offer on the market: 75.25 crores
Face worth: Rs 10 per share
Price Band: Rs 204-215 per share
Lot Size: 69 shares
In this IPO, 50 p.c share is reserved for Qualified Institutional Buyers (QIBs), 35% for retail buyers and 15% for non-institutional buyers.
Financial situation of the firm
The firm’s income elevated by 1% to Rs 375.95 crore in the monetary year 2023-24, whereas final year it was Rs 371.82 crore. Net revenue additionally elevated by 1% to Rs 15.6 crore. During April-June 2024, the firm recorded a income of Rs 75.54 crore and a web revenue of Rs 2.45 crore.
Use of cash raised from IPO
The firm will use this quantity to arrange a brand new crane unit, repay debt, put money into its NBFC subsidiary Barota Finance and meet basic company wants.
What is the state of affairs in grey market (GMP)
Indo Farm Equipment’s IPO is buying and selling at a premium of Rs 80 in the grey market. Based on this premium, the IPO itemizing is anticipated to be round Rs 295, which is 37.21% greater than the challenge worth. This signifies that contemplating the tendencies of the grey market, there is a chance of good income in the IPO of Indo Farm Equipment.
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