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Unlisted shares of Indo Farm Equipment Ltd proceed to commerce at Rs 310 apiece within the gray market, which is a 44.19 per cent premium over the higher IPO value of Rs 215. It signifies a strong itemizing achieve for traders on January 7.
Indo Farm Equipment IPO.
Indo Farm Equipment IPO: The preliminary public provide (IPO) of Indo Farm Equipment Ltd, which was opened for public subscription on Tuesday, obtained 17.87 instances subscription on Day 1 of bidding. Now, until 9:54 am on the second day of bidding on Wednesday, the Rs 260.15-crore IPO received a 18.42 instances subscription receiving bids for 15,59,88,438 shares in opposition to 84,70,000 shares on provide.
So far, the non-institutional traders (NII) class has obtained an 29.19 instances subscription, whereas the quota for retail traders received subscribed 19.69 instances. The QIB class received a 8.1 instances subscription.
The IPO will probably be closed on Thursday, January 2.
Indo Farm Equipment IPO GMP Today
According to market observers, unlisted shares of Indo Farm Equipment Ltd proceed to commerce at Rs 310 apiece within the gray market, which is a 44.19 per cent premium over the higher IPO value of Rs 215. It signifies a strong itemizing achieve for traders on January 7.
Indo Farm Equipment IPO Size
The IPO includes a contemporary difficulty of 86 lakh fairness shares and a proposal on the market (OFS) of 35 lakh shares by promoter Ranbir Singh Khadwalia.
Indo Farm Equipment IPO Price
Indo Farm Equipment has fastened the worth band for its IPO at Rs 204 to Rs 215 per share.
Indo Farm Equipment IPO Date
The Rs 260-crore IPO will open for public subscription on December 31, 2024, and shut on January 2, 2025.
Indo Farm Equipment IPO: More Details
The Rs 260-crore preliminary public providing (IPO) has a contemporary difficulty of 86 lakh fairness shares and an Offer-for-Sale (OFS) of 35 lakh fairness shares by promoter Ranbir Singh Khadwalia.
Proceeds from the contemporary difficulty will probably be used to arrange a brand new devoted unit for enlargement of the corporate’s choose & carry cranes manufacturing capability, fee of debt, funding within the firm’s NBFC subsidiary Barota Finance for financing the augmentation of its capital base to satisfy its future capital necessities.
Indo Farm Equipment manufactures tractors, choose & carry cranes and different farm tools.
At the higher finish of the worth band, the IPO dimension has been pegged at Rs 260 crore, putting the corporate’s market capitalisation at over Rs 1,000 crore.
Aryaman Financial Services is the only book-running lead supervisor for the difficulty.
The fairness shares will probably be listed on the BSE and NSE.
