The initial public offering (IPO) of Indo Farm Equipment Limited is seeing a high level of interest as it enters the final day of bidding. This IPO, which opened on December 31, 2024, has become one of the most talked-about public issues in recent times due to its strong subscription numbers and positive performance in the grey market.
Key Details About Indo Farm Equipment IPO
Subscription Status:
The Indo Farm Equipment IPO has been a big hit with investors. By midday on the third day of bidding, the IPO had been subscribed an impressive 104.39 times. Here’s how the subscription numbers look:
- Retail Investors: Subscribed 70.90 times.
- Non-Institutional Investors (NII): Subscribed 292.88 times.
- Qualified Institutional Buyers (QIB): Subscribed 21.63 times.
This strong demand reflects the confidence investors have in the company’s potential growth.
The grey market activity is also showing strong demand for Indo Farm Equipment shares. The GMP today is ₹96, which is ₹11 higher than the ₹85 GMP seen on the first day. This means investors are willing to pay ₹96 more than the upper price band of the IPO to secure shares. The rising GMP is a positive signal for the listing day performance.
IPO Price Band and Size:
The price band for the Indo Farm Equipment IPO is set between ₹204 and ₹215 per share. The total issue size of the IPO is ₹260.15 crore, making it a significant opportunity for investors.
Important Dates to Remember
- Allotment Date: The allotment of shares will be finalized on January 3, 2025. Investors can check their status to see if they have received shares.
- Listing Date: Indo Farm Equipment shares are likely to list on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on January 7, 2025.
The improved sentiment in the stock market and the strong response to the IPO suggest a promising outlook for Indo Farm Equipment Limited. Investors are optimistic about the company’s future growth, and this has been reflected in both the grey market and the subscription numbers.
The Indo Farm Equipment IPO is an exciting opportunity for investors, but it’s always wise to proceed with caution and make informed decisions.
