Chandigarh based Agriculture Equipments Company Indo Farm Equipment files DRHP with SEBI for the proposed IPO; Key Details here

Indo Farm Equipment is into Automobile Agriculture Equipments and is looking raise funds through Fresh Issue and Offer For Sale

Indo Farm EquipmentIPO: Fresh Issue of 10,500,000 Equity Shares through public issue. Offer of Sale of 3,500,000 Equity Shares through public issue IPO

Indo Farm Equipment IPO: Indo Farm Equipment Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. per share via initial public offering.

Initial Public Offer comprising of a Fresh Issue of up to 10,500,000 Equity shares and an Offer for Sale of up to 3,500,000 Equity Shares. Aryaman Financial have been appointed as lead merchant bankers for the proposed IPO. It has appointed MAS Services Ltd. as Registrar and Share transfer Agent. Company is yet to finalize issue size and some other important details relating to the IPO.

Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue of up to 10,500,000 Equity Shares offer-for-sale (OFS) of up to 3,500,000 equity shares by Ranbir Singh Khadwalia (Promoter) who will offload upto 3,500,000 Equity Shares in the company...

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Objects of the issue:
1) Setting up new Dedicated Unit for Expansion of our Pick & Carry Cranes Manufacturing Capacity - Rs. 70.6 cr, 2) Repayment or pre-payment, in full or part, of certain borrowings - Rs. 60 cr., 3) Further Investment in NBFC (Subsidiary - Barota Finance Ltd.) for financing the augmentation of its capital base to meet its future capital requirements - Rs. 45 cr.., and 4) General Corporate Purpose.

Promoters of Indo Farm Equipment are Ranbir Singh Khadwalia and Sunita Saini and holds 100% stake in the company.

About Company:
Established in 1993, Indo Farm Equipment Limited is fully integrated manufacturer of Tractors, Pick & Carry Cranes and other farm equipments such as harvester combines, rotavators and other related spares and components. Company through its subsidiary operate asset financing operations with focus on retail financing of tractors. Company own and operate manufacturing facility in Baddi, Himachal Pradesh approved total installed capacity of 12,000 tractors and 720 cranes. The average capacity utilization for FY21 to FY23, is around 32% for tractors and is around 75% for cranes. Segment revenues share for FY23 were around 61.0%/31.9%/6.5%/0.3%.

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About Industry:
The Global Tractor Market is projected to grow from USD 78.98 billion in 2023 to USD 104.69 billion by 2030. The India Tractor Market size was evaluated to be at USD 7.54 billion in 2020 and has been anticipated to reach USD 12.70 billion by 2030.
Today India is one of the largest Tractor producing countries of the world. (Source:B2K Analytics Industry Report). Globally the mobile crane market size is anticipated to grow from USD 19.78 billion in 2023 to USD 27.29 billion by 2028.Pick and Carry Crane is a type of mobile crane which is used for material handling. (Source:B2K Analytics Industry Report).

Source: SEBI, BSE, NSE, DRHP, Indo Farm Equipment, Industry Data

Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.