Indo Farm Equipment Limited’s Initial Public Offering (IPO) opens for subscription today, December 31, 2024. The company, a well-known manufacturer of tractors and pick-and-carry cranes, aims to raise ₹260.15 crore through a mix of fresh equity shares and an offer for sale. Here’s everything you should understand about an IPO.
IPO Key Details
- Price Band: The price per share is set between ₹204 and ₹215.
- Lot Size: Investors must buy a minimum of 69 shares, and further purchases will be in multiples of 69.
- Issue Dates: The IPO is open for subscription from December 31, 2024, to January 2, 2025.
- Total Issue Size: The company plans to raise ₹260.15 crore, with ₹184.90 crore from new shares and ₹75.25 crore from the Offer for Sale (OFS).
- Listing Date: Shares are expected to list on the NSE and BSE on January 7, 2025.
The IPO is drawing notable interest in the grey market. The current GMP is ₹82, showing that investors expect the shares to trade at a higher price than the IPO range. Based on this GMP, the estimated listing price could be around ₹305, which is 41.86% higher than the upper end of the price band.
Indo Farm Equipment is well-known for producing tractors, pick-and-carry cranes, and agricultural equipment such as harvester combines and rotavators. The company’s manufacturing facilities are well-equipped with modern technology like induction furnaces, automatic molding lines, and advanced laboratories for quality testing. This strong infrastructure supports its growth and production capabilities.
Important Dates to Remember
- Anchor Investor Allocation: December 30, 2024.
- Share Allotment: January 3, 2025.
- Refund Processing: January 6, 2025.
- Share Listing: January 7, 2025.
Indo Farm Equipment IPO offers an opportunity to invest in a well-established company in the growing agriculture and construction sectors. However, investors should research carefully and consult financial advisors before making decisions. With its current GMP showing strong interest, this IPO could see a robust listing.
