Indo Farm Equipment IPO: Indo Farm Equipment’s IPO is getting strong response from investors. This issue has been subscribed 17.71 times on the first day of subscription. It has received bids for a total of 15 crore shares, while there are 84.70 lakh crore shares on offer. This IPO has received a strong response from investors across all categories. The company intends to raise Rs 260.15 crore through public issue. This is an IPO of the mainboard segment, which is to be listed on BSE, NSE. Investors will have the opportunity to invest in this IPO till January 2. The price band of Rs 204-215 per share has been fixed for the IPO.
Indo Farm Equipment IPO: Category wise subscription
Qualified Institutional Buyers (QIB) – 8.10 times
Non Institutional Investors (NII) – 28.57 times
Retail Investors – 18.55 times
Total – 17.71 times
(31 Dec 2024 | 05:00:00 PM)
Latest GMP of Indo Farm Equipment IPO
There has been a jump in the gray market premium of Indo Farm Equipment today. The issue is trading at a premium of Rs 95 in the unlisted market. Accordingly, the company’s shares are likely to be listed at a price of Rs 310. If this happens then investors will get a huge profit of 44.19 percent. However, keep in mind that the situation in the gray market is constantly changing.
About Indo Farm Equipment IPO
Under the IPO, 0.86 crore new shares will be issued, the total value of which will be Rs 184.90 crore. At the same time, 0.35 crore shares worth Rs 75.25 crore will be sold through Offer for Sale (OFS). In this IPO, investors can bid for a minimum of 69 shares and its multiples. Accordingly, retail investors will have to invest at least Rs 14,835.
The allotment of shares in Indo Farm Equipment IPO will be done on January 3. At the same time, the refund process will start from January 6. The listing of the company’s shares is expected to take place on January 7. Aryaman Financial Services Ltd is the book running lead manager for the Indo Farm Equipment IPO, while Mass Services Ltd is the registrar to the issue.
Indo Farm Equipment Business
Indo Farm Equipment manufactures tractors and pick and carry cranes, with over two decades of experience. According to experts, the business model of Indo Farm Equipment has three segments, which include tractors, pick-and-carry cranes and NBFC company. The company manufactures tractors ranging from 16 HP to 110 HP and pick and carry cranes ranging from 9 tonne to 30 tonne. Additionally, the company’s investment in Barota Finance from the IPO proceeds is expected to strengthen the dealer network, which will lead to increased sales of tractors.
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