The Securities and Exchange Board of India (SEBI) has given its approval to Indo Farm Equipment to raise funds via initial public offering (IPO). Indo Farm Equipment’s proposed IPO consists of a fresh issue of 1.05 crore equity shares and an OFS of 35 lakh equity shares by promoter Ranbir Singh Khadwalia.
Proceeds from the fresh issue will be used to set up a new dedicated unit for expansion of the company’s pick and carry cranes manufacturing capacity, payment of debt, and investment in the company’s NBFC subsidiary Barota Finance. The equity shares are proposed to be listed on BSE and NSE.
Indo Farm Equipment manufactures tractors, pick and carry cranes, and other farm equipment.
| Company Name | CMP |
|---|---|
| Escorts Kubota | 3195.05 |
| VST Tillers Tractors | 5246.65 |
| Indo Farm Equipment | 144.65 |
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