The Indo Farm Equipment IPO has successfully closed on its third and final day, witnessing an overwhelming response with a subscription of over 227 times. The tractor manufacturer’s public issue has generated substantial interest across all investor categories, with the Qualified Institutional Buyers (QIB) portion subscribed 242.40 times and Non-Institutional Investors (NII) subscribed 501.65 times.
Retail Individual Investors (RII) also showcased strong enthusiasm, with the segment seeing a subscription of 101.65 times. The Grey Market Premium (GMP) for the IPO stands at an impressive 44.65%, reflecting robust demand and investor confidence ahead of the listing.
Key IPO Details:
- Price Band: ₹204 – ₹215 per share
- Lot Size: 69 shares per lot (Minimum investment of ₹14,835 for retail investors)
- Issue Size: ₹260.15 crore, comprising ₹184.90 crore from a fresh issue and ₹75.25 crore from an offer-for-sale.
The funds raised will be utilized to augment the company’s capital base, reduce debt levels, and expand operations. Indo Farm Equipment aims to strengthen its niche market presence in Pick and Carry Cranes and enhance its dealer network and sales force.
With the IPO subscription numbers and the current GMP, Indo Farm Equipment’s shares are expected to make a robust debut on the stock exchanges.
