Indo Farm Equipment IPO sees one of the highest subscriptions in last 12 months with 227 times bidding

Indo Farm Equipment IPO subscription soars on Day 3 of bidding so far; NIIs, QIBs lead amid strong GMP

Indo Farm Equipment IPO saw one of highest subscriptions since Vibhor Steel Tubes IPO closed in February 2024 with over 320 times subscription and Manba Finance in September 2024 with 224 times subscription.

The initial public offer of Indo Farm Equipment Ltd received 227.57 times subscription on the final day of bidding on Thursday. The initial share sale got bids for 192 crore shares against 84.70 lakh shares on offer, as per NSE data.

Non-Institutional Investors part garnered 501.65 times subscription while the quota for Retail Individual Investors (RIIs) got subscribed 101.64 times. The portion for Qualified Institutional Buyers (QIBs) fetched 242.40 times subscription.

Earlier, it garnered a little over Rs 78 crore from anchor investors.

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Indo Farm Equipment IPO GMP Today Price

According to market observers tracking the grey market premium activities, the shares of Indo Farm Equipment are commanding a GMP of about 40 percent in the unofficial market. Investorgain quoted a GMP of Rs 86, singalling a gain of 40 percent on listing of shares on the exchanges.

The issue has a price band of Rs 204-215 per share. 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.

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.

Indo Farm Equipment shares will be listed on the exchanges on 7th January, while the allotment is expected to take place on 3rd January.

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