Indo Farm Equipment IPO Day 3; check subscription status, GMP, key details

The unlisted shares of Indo Farm Equipment were trading at Rs 305 apiece, reflecting a grey market premium (GMP) of Rs 90 or 41.86 per cent per share over the upper end of the IPO price band of Rs 215

Indo Farm Equipment IPO subscription status: The three-day subscription window for the initial public offering (IPO) of Indo Farm Equipment, which opened for public subscription on Tuesday, December 31, 2024, is set to conclude today, Tuesday, January 2, 2025. The public offering has so far received an overwhelming response from investors.

 

Data available on the National Stock Exchange (NSE) revealed that the Indo Farm Equipment IPO has received bids for 46,16,50,572 shares against 84,70,000 shares on offer, resulting in an oversubscription of 54.50 times by the end of the second day of subscription, January 1, 2025.

 

Available at a price band of Rs 204-215 and a lot size of 69 shares, the Rs 260 crore offering of Indo Farm Equipment received the highest demand from the Non-Institutional Investors (NIIs) who oversubscribed the category reserved for them by 131.78 times. This was followed by the Retail Individual Investors (RIIs) who oversubscribed their reserved category by 45.70 times, and Qualified Institutional Buyers (QIBs) by 11.96 times.

 

Indo Farm Equipment IPO grey market premium (GMP) today

Meanwhile, unlisted shares of Indo Farm Equipment continue to hold a strong premium in the grey market on Thursday. Sources tracking unofficial market activities revealed that Indo Farm Equipment shares were trading at Rs 305 apiece, reflecting a grey market premium (GMP) of Rs 90 or 41.86 per cent per share over the upper end of the IPO price band of Rs 215.

 

Indo Farm Equipment IPO review

Indo Farm Equipment has also garnered positive reviews from brokerages, including Canara Bank Securities and Anand Rathi, for its public offering. READ MORE

 

Indo Farm Equipment IPO allotment, listing schedule

As the subscription window for the Indo Farm Equipment IPO closes today, the basis of allotment of shares will be finalised tentatively on Friday, January 3, 2025. Successful allottees will receive the shares in their demat accounts by Monday, January 6, 2025.

 

Shares of Indo Farm Equipment are slated to list on the BSE and NSE tentatively on Tuesday, January 7, 2025.

 

About Indo Farm Equipment

Incorporated in 1994, Indo Farm Equipment is a fully integrated and established manufacturer of tractors and pick-and-carry cranes. It also deals in other farm equipment such as Harvester Combines, Rotovators, and other related spares & components, which do not materially contribute to the total revenue of the company. Its products are being exported to various countries