Unlisted shares of Indo Farm Equipment Ltd continue to trade at Rs 305 apiece in the grey market, which is a 41.86 per cent premium over the upper IPO price of Rs 215. It indicates a robust listing gain for investors on January 7.
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Indo Farm Equipment IPO: The initial public offer (IPO) of Indo Farm Equipment Ltd is going to be closed at 5 pm today, January 2. Till 10:19 am on the final day of bidding on Thursday, the Rs 260.15-crore IPO got a 66.23 times subscription receiving bids for 56,09,93,253 shares against 84,70,000 shares on offer.
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So far, the non-institutional investors (NII) category has received an 172.25 times subscription, while the quota for retail investors got subscribed by 51.78 times. The QIB category got a 12.02 times subscription.
The IPO was opened for subscription on Tuesday, December 31.
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Indo Farm Equipment IPO GMP Today
According to market observers, unlisted shares of Indo Farm Equipment Ltd continue to trade at Rs 305 apiece in the grey market, which is a 41.86 per cent premium over the upper IPO price of Rs 215. It indicates a robust listing gain for investors on January 7.
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Indo Farm Equipment IPO Size
The IPO comprises a fresh issue of 86 lakh equity shares and an offer for sale (OFS) of 35 lakh shares by promoter Ranbir Singh Khadwalia.
Indo Farm Equipment IPO Price
Indo Farm Equipment has fixed the price band for its IPO at Rs 204 to Rs 215 per share.
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Indo Farm Equipment IPO Date
The Rs 260-crore IPO will open for public subscription on December 31, 2024, and close on January 2, 2025.
Indo Farm Equipment IPO: More Details
The Rs 260-crore initial public offering (IPO) has a fresh issue of 86 lakh equity shares and an Offer-for-Sale (OFS) of 35 lakh equity shares by promoter Ranbir Singh Khadwalia.
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Proceeds from the fresh issue will be used to set up a new dedicated unit for expansion of the company’s pick & carry cranes manufacturing capacity, payment of debt, investment in the company’s NBFC subsidiary Barota Finance for financing the augmentation of its capital base to meet its future capital requirements.
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Indo Farm Equipment manufactures tractors, pick & carry cranes and other farm equipment.
At the upper end of the price band, the IPO size has been pegged at Rs 260 crore, placing the company’s market capitalisation at over Rs 1,000 crore.
Aryaman Financial Services is the sole book-running lead manager for the issue.
The equity shares will be listed on the BSE and NSE.
