Kolkata: A day before bidding process for the issue opens, Indo Farm Equipment IPO has raised Rs 78 crore from 11 anchor investors. As many as 36,30,000 equity shares were sold to them at the price of Rs 215 per share. Indo Farm Equipment IPO is floating a book-built issue of Rs 260.15 crore which consists of only fresh shares.
The mainline issue is opening for subscription on the last day of 2024 – December 31, 2024 – and is set to close on January 2, 2025. The IPO allotment is scheduled on January 3 while listing will take place on January 7. The price band is set in the range of Rs 204 to Rs 215 per share.
According to investorgain, the Indo Farm Equipment IPO GMP (Grey Market Premium) stood at Rs 80 on December 30, 2024. Given a price of Rs 215, it is expected to rake in a listing gain of 37.21% with a listing price of Rs 295. However, it must be remembered that GMP is an unofficial indicator which can, and often does, change with time. Moreover, it does not guarantee anything – listing gain or loss.
For retail investors the minimum investible lot size consists of 69 shares, which entail an application money of Rs 14,835. For Non-Institutional Investor (NII) category investors, the minimum lot size consists of 14 lots which demands Rs 2,07,690 for application. Investors in the bNII segment would need to invest in a minimum of 68 lots.
Indo Farm Equipment IPO allotment is scheduled on January 3, 2025. Unsuccessful bidders will get back their money on January 6. On the same day, successful applicants will get shares in their demat account. Listing will take place both on BSE and NSE on January 7. Aryaman Financial Services Limited is the book running lead manager to the issue while Mas Services Limited is the registrar. Located in Baddi, Himachal Pradesh, Indo Farm Equipment manufactures cranes and tractors. It was set up in 2000.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
