Indo Farm Equipment IPO Allotment Status Highlights (December 3): See how to check Indo Farm allotment status online

• High Subscription Rate: The Indo Farm Equipment IPO witnessed one of the highest subscription rates on its final day of subscription, Thursday.
• Comparison with Past IPOs:
• Vibhor Steel Tubes IPO (February 2024) was subscribed over 320 times.
• Manba Finance IPO (September 2024) had a subscription rate of 224 times.
• Grey Market Premium: As per investorgain.com, the grey market premium for Indo Farm stocks is currently Rs 96.
• This indicates a potential 40% premium over the issue price if listed today.
• Listing Date: Indo Farm stocks are expected to list on January 7.

Blackstone has engaged top investment bank Morgan Stanley as an advisor as the private equity giant looks to sell its majority stake in listed portfolio firm and leading global speciality packaging company EPL Ltd (formerly Essel Propack), three persons in the know told Moneycontrol on the condition of anonymity.  On October 30, 2024, Moneycontrol was the first to report that the US investment major was exploring a strategic review of EPL Ltd. (Read More)

The Competition Commission of India (CCI) has found tech giant Apple to have indulged in anti-competitive practices following an investigation into the iPhone maker’s app store processes, Mint reported on January 3. According to the report, India’s anti-trust regulator found the US-based firm in violation of the country’s competition laws that do not allow abuse of dominant position. (Read More)

The National Stock Exchange (NSE) has achieved a remarkable milestone in 2024, leading Asia in the number of initial public offerings (IPOs) and setting a global record for equity capital raised in the primary market. The 268 IPOs in 2024 comprised 90 listings on the Main Board and 178 on the SME platform, collectively raising approximately Rs 1.67 lakh crore. This marks the highest number of IPOs facilitated in a single calendar year, reflecting strong investor confidence and the vibrancy of India's equity markets. (Read More)

• Gold discounts in India remained steady this week as elevated prices kept buyers away, while Chinese dealers charged higher premiums in anticipation of stronger demand ahead of the upcoming Chinese New Year.
• Indian dealers offered a discount of up to $14 an ounce over official domestic prices, inclusive of 6% import and 3% sales levies, unchanged from last week.
• "Local gold prices have been rising more than global prices in the last few days due to the depreciation of the rupee to a record low. This has been dampening demand," said Ashok Jain, proprietor of Mumbai-based gold wholesaler Chenaji Narsinghji. (Reuters)

• The Indian central bank was likely selling dollars on Friday to limit the rupee's losses and prevent it from hitting a record low, five traders told Reuters.
• The rupee was quoted at 85.77 to the U.S. after dipping to an intraday low of 85.7950 in afternoon trade amid a fall in the Chinese yuan and an uptick in the dollar.
• The domestic unit had hit a record low of 85.8075 last week.
• State-run banks were spotted offering dollars, mostly likely on behalf of the Reserve Bank of India (RBI), around 85.77-85.79 levels, traders said. (Reuters)
• The rupee could have drifted lower towards 86 if the RBI had not stepped in to stem the fall, a trader with a private bank said.

Aryaman Financial Services serves as the book-running lead manager for the Indo Farm Equipment IPO, with Mas Services acting as the IPO registrar.

• Veteran emerging market investor Mark Mobius believes that India's export-driven companies are well-positioned to benefit from a weakening rupee and the policies of the incoming Trump administration. With ongoing reforms, India is emerging as a natural alternative to China for manufacturing, according to Mobius.
• Speaking with CNBC-TV18, Mobius, of Mobius Emerging Markets Fund, expressed optimism about India's export prospects, highlighting the nation's potential to capitalize on global trade opportunities. "India is on the brink of a significant surge in exports, not just in software but also in manufacturing," he stated. (Read More)

• Millions of government workers across China were given surprise wage increases this week, people affected by the move said, as Beijing looks to boost spending to support the slowing economy.
• On a combined basis, the immediate payout would amount to a one-time shot to the economy of between about $12 billion and around $20 billion if all 48 million people counted as public-sector workers collected on the terms described to Reuters.
• The last time China publicly announced a nation-wide increase in pay for civil servants was in 2015, when the government raised pay for local officials by more than 30% as part of an effort to combat corruption and lift consumers' spending power. (Reuters)

The US Securities and Exchange Commission and Eastern District of New York criminal cases against the Adani Group for an alleged bribery scheme have been assigned to a single judge for judicial efficiency, reported CNBC-TV18 on January 3. It is to be noted that the cases, however, have not been combined and remain separate, CNBC-TV18 added. (Read More)

As per the latest data available on investorgain.com, the current grey market premium for Indo Farm stocks stands at Rs 96. This means that if these stocks were to list today, the investors will get 40 percent premium over the issue price. The stocks of Indo Farm are likely to list on January 7.

Five in ten health insurance policyholders who filed claims in the last three years said their insurers either partially or completely rejected their claims, a study conducted by social media portal and survey firm LocalCircles has found. The policyholders who participated in the survey felt that their claims were unfairly repudiated. (Read More)

Rural poverty declined faster in rural India over the course of the year, as the poverty ratio dipped below 5 percent for the first time, according to analysis by SBI Research. A sharp rise in rural spending, brought down rural poverty to 4.86 percent in 2023-24 from 7.2 percent in the previous year and 25.7 percent in 2011-12, the latest SBI report said. Read more

Benchmark indices Nifty and Sensex started on a subdued note on January 3, ending the two-day winning streak weighed down by weakness in IT and private bank stocks. The decline followed a strong rally in the previous session, where leading indices posted their best gains in six weeks. The pullback also comes amid weak global cues, with major US stock indices finishing lower, reversing earlier gains. Read more

The record date for the eagerly anticipated ITC Hotels demerger is January 6, marking today's session as the last date for investors to pick up ITC shares in order to receive ITC Hotels shares following the demerger on the bourses. Read more

Shares of Avenue Supermarts Ltd. jumped 15 percent in the morning deals on January 3, after the DMart operator shared its business update for the October-December period for FY2024-25. Read more

Asian equities on Friday bucked the dour global stocks mood that dragged US shares lower for a fifth day.

Giants SK Hynix Inc. and Samsung Electronics Co. drove the South Korean benchmark as much as 2.1% higher. Shares in Australia and Hong Kong also rose, as did US equity futures, after the S&P 500 and Nasdaq 100 both fell on Thursday. Equity trading in Japan is closed for a holiday.

Chinese stocks fluctuated after the worst start to the year since 2016. The nation’s 10-year government bond yield slipped below 1.6% for the first time ever on Friday amid concerns about the state of the country’s economy.

For the fiscal year 2024, Indo Farm Equipment reported a revenue of Rs 375 crore and a net profit of Rs 15.5 crore.

• Founded: 1994
• Main Products: Tractors and pick-and-carry cranes
• Other Agricultural Equipment: Harvester Combines, Rotovators, and related spares (contribute minimally to revenue)
• Exports: Products are exported to multiple countries.

The funds raised from Indo Farm Equipment's IPO will be used for various purposes. Approximately Rs 50 crore will be allocated to repay or prepay borrowings, while Rs 45 crore will be invested in its NBFC subsidiary, Barota Finance, to strengthen its capital base for future expansion. The remaining proceeds will be directed towards general corporate purposes, supporting the company’s broader business goals.

• Prior to the IPO launch, Indo Farm Equipment secured Rs 78.04 crore through its anchor book, attracting investments from 11 institutional investors.
• The Indo Farm Equipment IPO consisted of a fresh issue of Rs 185 crore and an Offer for Sale (OFS) of 35 lakh shares, bringing the total issue size to Rs 260 crore.

Wall Street ended Thursday on a lower note after a day of volatile trading, as investors navigated the complexities of strong labor market data, a strengthening dollar, and a sharp decline in Tesla shares. The Dow Jones Industrial Average dropped 151.95 points (0.36%) to close at 42,392.27, the S&P 500 fell 13.08 points (0.22%) to 5,868.55, and the Nasdaq Composite slipped 30.00 points (0.16%) to finish at 19,280.79. (Check Live Updates)

• Navigate to the IPO allotment page on the Mas Financial Services Ltd. website.
• Select ‘Indo Farm Equipment’ from the dropdown menu.
• Enter your details, such as PAN or DP/Client ID.
• Click ‘Submit’ to view your allotment status.

• Go to the BSE IPO allotment page.
• Select ‘Equity’ as the issue type.
• From the dropdown menu, choose ‘Indo Farm Equipment.’
• Enter your application number or PAN details.
• Click ‘Search’ to check your allotment status.

At the highest price point of the range, the IPO is valued at Rs 260 crore, bringing the company's market capitalization to over Rs 1,000 crore.

Stocks To Watch Today, Jan 3: Stocks like Capital Small Finance Bank, Avenue Supermarts, Hindustan Zinc, MOIL, Varun Beverages, Indian Railway Finance Corporation, NHPC, Axiscades Technologies,Honasa Consumer, Pricol, Allcargo Logistics, PB Fintech, Swan Energy, Gujarat Toolroom, and Citichem India will be in focus on January 3. (Read More)

The Indo Farm Equipment IPO is priced in the range of Rs 204-215 per share. With a total size of Rs 260 crore, the offering consists of a fresh issue of 86 lakh equity shares and an Offer-for-Sale (OFS) of 35 lakh equity shares by promoter Ranbir Singh Khadwalia.

Market observers tracking grey market activity have noted that shares of Indo Farm Equipment are currently commanding a grey market premium (GMP) of around 40%. According to Investorgain, the GMP stands at Rs 86, indicating a potential gain of 40% when the shares are listed on the exchanges.

The Non-Institutional Investors (NIIs) segment of the IPO was subscribed 501.65 times, while the Retail Individual Investors (RIIs) portion saw a subscription of 101.64 times. The Qualified Institutional Buyers (QIBs) category received a subscription of 242.40 times.

The initial public offering (IPO) of Indo Farm Equipment Ltd was subscribed 227.57 times on its final day of bidding, Thursday. The IPO received bids for a total of 192 crore shares, significantly surpassing the 84.70 lakh shares available for sale, according to data from the National Stock Exchange (NSE).

The Indo Farm Equipment IPO achieved one of the highest subscription rates on the final day of its subscription period, which concluded on Thursday. This marks one of the most impressive subscription figures in recent months, standing out alongside two notable IPOs from earlier in 2024. Specifically, the Vibhor Steel Tubes IPO, which closed in February, saw an overwhelming subscription of over 320 times, while the Manba Finance IPO in September also garnered substantial interest, with a subscription rate of 224 times. Given the immense demand for shares in the Indo Farm Equipment IPO, market observers are eagerly anticipating the finalization of the allotment status, which is expected to take place today. Investors and analysts alike are closely watching for updates, as these high subscription rates reflect a significant level of investor confidence and interest in the company’s prospects. For those tracking the latest developments, detailed updates on the IPO process, including the final allotment status and other key information, stay with us for key developments, direct links here.