Indo Farm Equipment Sets Sail with Rs 260-Crore IPO

Indo Farm Equipment is launching an IPO with a price band of Rs 204 to Rs 215 per share, opening December 31. The Rs 260-crore issue will include a fresh issue of 86 lakh shares and an OFS of 35 lakh shares by promoter Ranbir Singh Khadwalia.

Indo Farm Equipment has announced a price range between Rs 204 and Rs 215 per share for its upcoming IPO, scheduled to start on December 31. The Rs 260-crore offering will close on January 2, with anchor investor bidding beginning December 30, according to the company.

The IPO features a fresh issuance of 86 lakh equity shares and an offer for sale of 35 lakh shares by promoter Ranbir Singh Khadwalia. Proceeds will support the establishment of a new unit for expanding crane manufacturing capacity, debt repayment, and investment in Barota Finance, an NBFC subsidiary.

Indo Farm Equipment, which produces tractors and cranes, aims for a market capitalization exceeding Rs 1,000 crore at the high end of the pricing spectrum. Aryaman Financial Services will handle the IPO as the sole book-running lead manager, and shares will be listed on BSE and NSE.

(With inputs from agencies.)