The Indo Farm Equipment Ltd IPO witnessed strong investor participation, being subscribed 27 times by Day 2 of the subscription period, which ends on January 2. The IPO, valued at Rs 260 crore, is priced between Rs 204-215 per share.
Subscription Details (as of 11:30 AM, NSE Data):
- Overall Subscription: 26.85 times (22.74 crore bids for 84.70 lakh shares)
- Non-Institutional Investors: 50.28 times
- Retail Individual Investors (RIIs): 27.51 times
- Qualified Institutional Buyers (QIBs): 8.13 times
The company previously raised over Rs 78 crore from anchor investors.
Grey Market Premium (GMP):
The IPO has garnered significant attention in the grey market, with a premium of Rs 95, indicating a potential listing gain of 44.18%. This places the company’s market capitalisation at over Rs 1,000 crore at the upper price band.
Business Overview:
Indo Farm Equipment is engaged in the manufacturing of tractors, pick-and-carry cranes, and other farm equipment.
Key Dates:
- IPO Closes: January 2, 2025
- Allotment of Shares: Likely on January 3, 2025
- Listing Date: Scheduled for January 7, 2025 on BSE and NSE
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions.
