Indo Farm Equipment Share Price Highlights: Stock trades off-highs amid profit booking

Indo Farm Equipment shares closed at ₹275.49 on the first day of listing. 

Indo Farm Equipment Share Price Live: Indo Farm Equipment share gave up early gains amid profit booking at higher levels. The stock was listed at 10% premium to the issue price at ₹258.40 apiece on the BSE. It rose to an intraday high of ₹286.90 per share, gaining over 11% from its listing price. However, Indo Farm Equipment shares were trading up 5.53% at ₹272.70 apiece.

Indo Farm Equipment Share Price Live: Indo Farm Equipment shares were trading at ₹277.25 apiece on the BSE, higher by ₹18.85, or by 7.29%, from its listing price and up by ₹62.25 apiece, or 28.95%, from its issue price.

Indo Farm Equipment Share Price Live: Indo Farm Equipment offers a range of tractors from 16 HP to 110 HP in 2WD and 4WD options, meeting about 80% of global market needs, particularly for 4WD models. The company’s 65, 75, 90, and 110 HP tractors are designed for export to regions like Africa, Latin America, and the Middle East, while 1,026 model (26 HP) is tailored for the European market. Additionally, the company manufactures Pick & Carry Cranes used widely in engineering, construction and infrastructure. The company’s cranes capacities varies from 9 tons to 30 tons in both 2WD and 4WD.

Indo Farm Equipment Share Price Live: On the financial front, Indo Farm Equipment reported a turnover of ₹352.6 crore, ₹371.8 crore and ₹376 crore for FY22, FY23 and FY24 respectively, on a consolidated basis. It posted net profit of ₹13.7 crore, ₹15.5 crore and ₹15.6 crore, respectively, for the aforementioned period, witnessing improvement in margins and the company has moved its revenue percentage in cranes business from 22% to 48% over the last three years.

Indo Farm Equipment Share Price Live: A look at company’s peers

Indo Farm Equipment Share Price Live: Indo Farm Equipment intends to utilise the net issue proceeds for setting up new dedicated unit for expansion of its Pick & Carry Cranes manufacturing capacity, repayment or pre-payment, in full or part, of certain borrowings availed by the company, further investment in its NBFC subsidiary (Barota Finance Ltd.) for financing the augmentation of its capital base to meet its future capital requirements and for general corporate purposes.

Indo Farm Equipment Share Price Live: While the issue is priced at a P/E ratio of 51.8x over its upper price band based on FY24 earnings, given its strong growth prospects and favorable industry trends, we recommend that investors who have been allotted shares consider holding their positions from a medium to long-term perspective, said Palak Devadiga, Research Analyst, StoxBox.

Indo Farm Equipment Share Price Live: Prashanth Tapse, Sr VP Research – Research Analyst at Mehta Equities Ltd. said that despite overwhelming response, Indo Farm Equipment listing was below his expectations. We believe the listing was lower considering the market mood after panic Monday.  Considering renewed market sentiments, we recommend conservative allotted investors can think of booking profits above our expectations. While long term investors should consider to HOLD IT FOR LONG TERM despite knowing short term volatility post listing & risk in the markets. For non-allotted investors, we advise to accumulate if we get dips post listing due to profit booking attempts, Tapse said.

Indo Farm Equipment Share Price Live: Indo Farm Equipment market capitalisation rose above ₹1,300 crore as the stock extended gains after listing. Indo Farm Equipment share price was trading at ₹284.00 apiece on the BSE, higher by 10% from its listing price and up by 32% from its issue price. The company commanded a market-cap of ₹1,362.50 crore on the BSE.

Indo Farm Equipment Share Price Live: Indo Farm Equipment shares extended gains after listing with over 20% premium. The stock was trading at ₹282.25 apiece on the BSE, up more than 9% from its listing price and over 31% higher from its issue price.

Indo Farm Equipment Share Price Live: Indo Farm Equipment shares were listed at ₹256.00 apiece on NSE, a premium of 19.07% to the IPO price of ₹215.00 per share.

Indo Farm Equipment Share Price Live: Indo Farm Equipment shares were listed at ₹258.40 apiece on the BSE, a premium of 20.19% to the issue price of ₹215.00 per share.

Indo Farm Equipment Share Price Live: Indo Farm Equipment shares settled 20.19% higher in the pre-opening session at ₹258.40 apiece on the BSE.

Indo Farm Equipment Share Price Live: Palak Devadiga, Research Analyst, StoxBox believes Indo Farm Equipment is set for an impressive stock market debut today with expectations of a 45% premium over its upper price band. 

“While the issue is priced at a P/E ratio of 51.8x over its upper price band based on FY24 earnings, given its strong growth prospects and favorable industry trends, we recommend that investors who have been allotted shares consider holding their positions from a medium to long-term perspective,” said Devadiga.

Indo Farm Equipment Share Price Live: Despite the offer being slightly on the expensive side, Indo Farm Equipment received overwhelming response from sets of investors, making it the second highest subscribed IPO among the mainboard issues launched in 2024. We believe the massive demand was on the back of the main reason being that the company is spending IPO proceeds to strengthen its dealer network which can eventually lead to higher tractor sales in future. Considering renewed market sentiments and massive subscription demand, we expect the company can list with strong listing gains over and above ~40% on its issue price. We believe the expected listing gain is justified as investors believe healthy growth post expansion of pick and carry cranes capacities and strengthen its dealer network, said Prashanth Tapse, Sr VP Research – Research Analyst at Mehta Equities Ltd.

He recommends conservative allotted investors can think of booking profits, while long term investors should consider to ‘HOLD IT FOR LONG TERM’ despite knowing short term volatility post listing and risk in the markets. For non-allotted investors, Tapse advises to accumulate Indo Farm Equipment shares if there are dips post-listing due to profit booking attempts.

Indo Farm Equipment Share Price Live: Indo Farm Equipment shares are showing a bullish trend in the unlisted market with a strong grey market premium (GMP). According to the stock market observers, Indo Farm Equipment IPO GMP today is ₹90 per share. This indicates that in the grey market, Indo Farm Equipment shares are trading higher by ₹90 than their issue price. Considering the Indo Farm Equipment IPO GMP today, the estimated listing price of Indo Farm Equipment shares would be ₹305 apiece, a premium of 42% to the issue price of ₹215 per share.

Indo Farm Equipment Share Price Live: Indo Farm Equipment IPO was subscribed by a whopping 229.68 times. The IPO received bids for 194.53 crore shares as against 84.70 lakh shares on offer. The retail investors portion was subscribed 104.36 times, while the Non-Institutional Investors (NIIs) segment was booked 503.39 times. The Qualified Institutional Buyers (QIBs) portion is subscribed 242.40 times.

Indo Farm Equipment Share Price Live: Indo Farm Equipment IPO price band was set at ₹204 to ₹215 per share. The company raised ₹260.15 crore from the book-built issue which was a combination of fresh issue of 86 lakh equity shares worth ₹184.90 crore and offer-for-sale of 35 lakh shares amounting to ₹75.25 crore. Before the IPO opened, the company had raised ₹78 crore from anchor investors by allotting 36.30 lakh shares to 11 entities at ₹215 per equity share.

Indo Farm Equipment Share Price Live: Indo Farm Equipment IPO opened for subscription on Tuesday, December 31, and closed on Thursday, January 2. The IPO allotment was finalised on January 4 and the Indo Farm Equipment IPO listing date is today, January 7. Indo Farm Equipment shares will be listed on both the stock exchanges, BSE and NSE.

Indo Farm Equipment Share Price Live: Indo Farm Equipment shares are set to make their debut on the Indian stock market today after its initial public offering (IPO) received stellar demand. Indo Farm Equipment IPO listing date is today, January 7 and the shares will be listed on both the stock exchanges, BSE and NSE.