Share Market: The initial public offering (IPO) of Indo Farm Equipment Limited will conclude for allotment on Friday, January 3. The company’s shares are set to be listed on both BSE and NSE on January 7. The IPO, which was open for subscription from December 31 to January 2, experienced significant demand, achieving a total subscription rate of 227.57 times.
IPO specifics and subscription details The price range for the IPO was established at ₹204-215 per share.
Investors participating in this IPO can verify their allotment status via the BSE, NSE, or the IPO registrar, Maas Financial Services Limited. To check the allotment status on the BSE website:
1. Navigate to the BSE IPO allotment page.
2. Choose ‘Equity’.
3. Select ‘Indo Farm Equipment’ from the dropdown menu.
4. Input your application number or PAN number.
5. Click ‘Search’ to view your status.
To check the status on the Maas Financial Services Limited website:
1. Go to the IPO allotment page of Maas Financial Services Limited.
2. Select ‘Indo Farm Equipment’.
3. Provide the required information, such as PAN or DP/Client ID.
4. Click ‘Submit’ to check your status.
For the NSE website, investors can log in or register to check their allotment status.
Process for Credit and Refund of Shares
The shares of Indo Farm Equipment will be credited to the demat accounts of successful applicants by January 6. For those who do not receive an allotment, the refund process will commence.
About the Company
Indo Farm Equipment Limited was established in 1994. It is known as a leading manufacturer of tractors and pick-and-carry cranes. The company also produces other farm equipment products such as harvester combines, rotovators, and related spare parts, though these are a small part of the total revenue. The company’s products are exported to many countries. In the financial year 2024, the company reported a revenue of ₹375 crore and a net profit of ₹15.5 crore.
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