The scrip was listed at Rs 258.40, exhibiting a premium of 20.19% to the issue price. So far, the stock has hit a high of 286.50 and a low of 257.95. On the BSE, over 14.85 lakh shares of the company were traded in the counter so far. The initial public offer (IPO) of Indo Farm Equipment was subscribed 229.68 times. The issue opened for bidding on 31 December 2024 and closed on 2 January 2025. The price band of the IPO was fixed between Rs 204 and 215 per share. The IPO comprised a fresh issue of 86 lakh equity shares worth up to Rs 184.9 crore and an offer for sale of 35 lakh equity shares, aggregating up to Rs 75.25 crore, by promoter Ranbir Singh Khadwalia. The objectives of the fresh issue include Rs 71.13 crore for setting up a new dedicated unit for the expansion of pick & carry crane manufacturing capacity, Rs 50 crore for the repayment or pre-payment of certain borrowings, Rs 45 crore for further investment in the NBFC subsidiary, and the remaining amount for general corporate purposes. Ahead of the IPO, Indo Farm Equipment on Monday, 30 December 2024, raised Rs 78.04 crore from anchor investors. The board allotted 36.30 lakh shares at Rs 215 each to 11 anchor investors. Incorporated in 1994, Indo Farm Equipment is a fully integrated and established manufacturer of tractors and pick-and-carry cranes. It also deals in other farm equipment, such as harvester combines, rotavators, and related spares and components, although these products do not materially contribute to the total revenue. The company manufactures tractors from 16 HP to 110 HP in 2WD and 4WD options, meeting 80% of global market demand. Key models, including 65 HP, 75 HP, 90 HP, and 110 HP, are designed for export markets in Africa, Latin America, the Middle East, and Asia, while the 26 HP model is tailored for the European market. The firm reported a consolidated net profit of Rs 2.45 crore and sales of Rs 74.96 crore for the three months ended on 30 June 2024. Powered by Capital Market - Live