Indo Farm Equipment IPO GMP: If you are an IPO investor and earn profits by investing money in IPOs, then the last IPO of the year is also going to be great for you. In fact, the IPO of Indo Farm Equipment has brought a great earning opportunity for investors in the last week of the last month of the year 2024. This IPO will open on 31 December 2024 and close on 2 January 2025. Its listing on BSE and NSE can happen on 7 January 2025.
what does the company do
Indo Farm Equipment has been manufacturing agricultural equipment like tractors and pick and carry cranes since 1994. Its plant spread in Baddi, Himachal Pradesh has an annual production capacity of 12,000 tractors and 1,280 cranes. The company exports its products not only to India but also to countries like Nepal, Syria, Sudan, Bangladesh and Myanmar.
IPO details
IPO size: Total Rs 260.15 crore
New shares: 184.90 crore
Offer for sale: 75.25 crores
Face value: Rs 10 per share
Price Band: Rs 204-215 per share
Lot Size: 69 shares
In this IPO, 50 percent share is reserved for Qualified Institutional Buyers (QIBs), 35% for retail investors and 15% for non-institutional investors.
Financial condition of the company
The company’s revenue increased by 1% to Rs 375.95 crore in the financial year 2023-24, whereas last year it was Rs 371.82 crore. Net profit also increased by 1% to Rs 15.6 crore. During April-June 2024, the company recorded a revenue of Rs 75.54 crore and a net profit of Rs 2.45 crore.
Use of money raised from IPO
The company will use this amount to set up a new crane unit, repay debt, invest in its NBFC subsidiary Barota Finance and meet general corporate needs.
What is the situation in gray market (GMP)
Indo Farm Equipment’s IPO is trading at a premium of Rs 80 in the gray market. Based on this premium, the IPO listing is expected to be around Rs 295, which is 37.21% more than the issue price. This means that considering the trends of the gray market, there is a possibility of good profits in the IPO of Indo Farm Equipment.
Disclaimer: (The information provided here is being provided for information only. It is important to note here that investment in the market is subject to market risks. Always seek expert advice before investing money as an investor. ABPLive.com does not advise anyone It is never advisable to invest money here.)
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