<ul><li>Indo Farm Equipment Ltd. is set to launch its initial public offering (IPO) on December 31. The company has downsized the fresh issue from 1.05 crore shares to 86 lakh shares. The offer-for-sale component includes 35 lakh shares offloaded by promoter Ranbir Singh Khadwalia.</li><li>The proceeds from the fresh issue will be utilized for expanding the manufacturing capacity of pick-and-carry cranes, repayment/pre-payment of borrowings, investment in their NBFC subsidiary for capital base augmentation, and general corporate purposes.</li><li>Indo Farm Equipment is a leading manufacturer of tractors and pick and carry cranes with a strong domestic presence. The company also exports its products to international markets. It operates manufacturing facilities with advanced infrastructure.</li><li>Aryaman Financial Services Ltd. is the book-running lead manager for the IPO, and Mas Services Ltd. is the registrar. The anchor book will be launched on December 30.</li></ul>

Indo Farm Equipment Set To Launch IPO On New Year's Eve

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