Indo Farm Equipment IPO Closes with Massive Oversubscription

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The Indo Farm Equipment Limited initial public offering (IPO) closed on January 2, 2025, after receiving an overwhelming response from investors.

The IPO, which opened on December 31, 2024, was oversubscribed by 54.50 times, underscoring significant demand across all investor categories.

Key Details of the IPO

• Price Band: The IPO was priced between ₹204 and ₹215 per share.
• Lot Size: Investors could bid for a minimum of 69 shares.
• Oversubscription:
  • Non-Institutional Investors (NIIs): 77.20 times.
  • Retail Individual Investors (RIIs): 42.15 times.
  • Qualified Institutional Buyers (QIBs): 38.90 times.

Grey Market Premium

In the grey market, Indo Farm Equipment’s shares are trading at a premium of ₹90 over the upper price band, reflecting robust investor enthusiasm and optimism about the company’s growth prospects.

Timeline and Listing Details

• Basis of Allotment: January 3, 2025.
• Demat Credit: Shares will be credited to successful allottees’ demat accounts by January 6, 2025.
• Listing Date: The company’s shares are set to debut on the BSE and NSE on January 7, 2025.

Market Sentiment

The strong subscription numbers and grey market performance signal high investor confidence in Indo Farm Equipment’s business model and future growth trajectory.

The company, known for its wide range of agricultural machinery and equipment, aims to leverage the IPO proceeds to expand operations, strengthen its product portfolio, and enhance distribution networks.

Conclusion

With the IPO now concluded, all eyes are on the share allotment process and the company’s debut in the secondary market.

Investors and market analysts alike anticipate a strong listing, further cementing Indo Farm Equipment’s position as a key player in the agricultural equipment sector.

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