Indo Farm Equipment Limited has submitted its Monitoring Agency Report for the quarter ended December 31, 2025, confirming that the utilization of its Initial Public Offer (IPO) proceeds has been in line with the disclosures made in the offer document. The report, issued by Infomerics Valuation and Rating Limited, acting as the Monitoring Agency, states that there have been no deviations from the objects for which the funds were raised, nor any deviations in the amount of funds utilized. The total net proceeds available for utilization from the IPO amounted to ₹168.06 crore. During the quarter ended December 31, 2025, the company utilized ₹5.79 crore. As of December 31, 2025, the total utilization stands at ₹107.12 crore, with ₹60.94 crore remaining unutilized. The primary objects of the IPO included setting up a new dedicated unit for expansion of Pick & Carry Cranes manufacturing capacity (₹70.07 crore), repayment of borrowings (₹50.00 crore), investment in its NBFC subsidiary Barota Finance Ltd. (₹45.00 crore), and general corporate purposes (₹2.99 crore). The report also details the deployment of unutilized IPO proceeds, which are primarily held in fixed deposits with ICICI Bank and an IPO monitoring account, earning interest at rates ranging from 4.75% to 5.85%. The company has confirmed that all statutory approvals related to the IPO objects have been obtained.
