Indo Farm Equipment files DRHP with SEBI
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Indo Farm Equipment has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The equity shares are proposed to be listed on BSE and NSE.
The proposed IPO comprises fresh issue of 1.05 crore equity shares and an Offer For Sale (OFS) of 35 lakh equity shares by promoter Ranbir Singh Khadwalia. Proceeds from the fresh issue will be used to set up new dedicated unit for expansion of the company's pick and carry cranes manufacturing capacity, payment of debt, investment in the company's NBFC subsidiary Barota Finance.
Indo Farm Equipment manufactures tractors, pick and carry cranes, and other farm equipment.
