Indo Farm Equipment moves up on getting nod to acquire additional equity shares in Barota Finance
Indo Farm Equipments is currently trading at Rs. 172.50, up by 0.30 points or 0.17% from its previous closing of Rs. 172.20 on the BSE.
The scrip opened at Rs. 177.00 and has touched a high and low of Rs. 177.00 and Rs. 171.60 respectively. So far 10875 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 292.30 on 08-Jan-2025 and a 52 week low of Rs. 155.70 on 12-Feb-2025.
Last one week high and low of the scrip stood at Rs. 192.85 and Rs. 171.40 respectively. The current market cap of the company is Rs. 831.29 crore.
The promoters holding in the company stood at 83.88%, while Non-Institutions held 16.12% stake in the company.
Indo Farm Equipment has received approval for acquisition of 18,000,000 equity shares, each having a face value of Rs 10, at a price of Rs 25 per share (including a premium of Rs 15 per share) of Barota Finance (BFL), the wholly-owned subsidiary of the Company, under a rights issue. The total investment for the acquisition amounts to Rs 45 crore.
The Board of Directors of the Company, in its meeting held on March 12, 2025, has approved the same.
Indo Farm Equipment is engaged in the activity of manufacturing tractors, pick & carry cranes and other farm equipments.
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