Indo Farms Equipment IPO: Check GMP, Issue Size and Other Details
The subscription window for initial public offering (IPO) of Indo Farm Equipment ends today. Valued at ₹260.15 crore, the price band of IPO has been fixed between ₹204 to ₹215 per share.
Indo Farms Equipment IPO: Check GMP, Issue Size and Other Details
The subscription window for initial public offering (IPO) of Indo Farm Equipment ends today. Valued at ₹260.15 crore, the price band of IPO has been fixed between ₹204 to ₹215 per share. The company is expected to make its debut on the stock exchanges on January 7.
Subscription status
The issue size is a combination of fresh issue and offer-for-sale valued at ₹184.90 crore and ₹75.25 crore respectively. Overall, the IPO has received strong response from investors as it was subscribed by 69.48 times so far. While the QIB’s subscribed the shares by 12.03 times, the lot by NII and RII were booked by 183.82 times and 53.31 times respectively.
GMP
The grey market premium of Indo Farm Equipment IPO is at ₹90. If this trend continues, the shares could list at ₹305 up from ₹215, an increase by 42%.
About the company
Founded in 1994, Indo Farm Equipment Limited is engaged in manufacturing tractors, pick-and-carry cranes, and various types of harvesting equipment.
