Indo Farm Equip IPO Subscribed 54.50x On Day-2

New Delhi: The initial public offer of Indo Farm Equipment Ltd received 54.50 times subscription on the second day of bidding on Wednesday.

The initial share sale got bids for 46,16,50,572 shares against 84,70,000 shares on offer, as per NSE data. Non-Institutional Investors part garnered 131.78 times subscription, while the quota for Retail Individual Investors (RIIs) got subscribed 45.70 times. The portion for Qualified Institutional Buyers (QIBs) fetched 11.96 times subscription. The initial public offer of Indo Farm Equipment Ltd got subscribed 17.70 times on the opening day of bidding on Tuesday amid strong investors participation. Indo Farm Equipment on Monday said it has garnered a little over Rs78 crore from anchor investors.

The issue, with a price band of Rs204-215 per share, will conclude on Thursday. The Rs260-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.