Indo Farm Equipment plans IPO to raise ₹260 crore with bidding starting December 31

Indo Farm Equipment is set to launch its initial public offering (IPO) next week, aiming to raise nearly ₹260.15 crore. The IPO will open for subscription on December 31 and close on January 2, 2025, with shares priced between ₹204 and ₹215. The offering includes a fresh issue of 86 lakh shares and an offer for sale of 35 lakh shares by promoter Ranbir Singh Khadwalia. The company plans to use the funds for debt repayment, expanding crane manufacturing, and investing in its finance subsidiary. As of now, the grey market premium for the shares is ₹85, suggesting a potential listing price of ₹300. The company reported a net profit of ₹24.54 crore for the first quarter of the financial year 2024-25.