Indo Farm Equipment IPO Listing On Tuesday: Latest GMP Signals Strong Listing Gain For Investors – News18
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Unlisted shares of Indo Farm Equipment Ltd are currently trading at Rs 305 per share in the grey market, which is Rs 90 or 41.86 per cent higher than the IPO issue price of Rs 215. It indicates a strong listing on January 7.
Indo Farm Equipment IPO Listing Date
Indo Farm Equipment IPO Listing Date: Investors are keenly awaiting the listing of Indo Farm Equipment Ltd, whose IPO received a whopping over 227.67 times subscription between December 31 and January 2. The listing will take place tomorrow, January 7 (Tuesday). The latest GMP stands at 41.86 per cent, which is signalling a strong listing gain for investors.
The shares of Indo Farm Equipment Ltd are scheduled to be listed on both BSE and NSE on January 7, Tuesday.
Though the GMP of 41.86 per cent is lower than the 46.05 per cent premium recorded last week, it still points to a robust listing.
The Indo Farm Equipment IPO allotment was finalised on Saturday. Investors can now check the IPO allotment status on the websites of the BSE and NSE, as well as on registrar Mas Services Ltd’s portal.
The initial public offering of Indo Farm Equipment Ltd, which was opened on between December 31 and January 2, received a whopping 227.67 times subscription. The retail category received a 101.79 times subscription in total, the NII (non-institutional investors) portion got 501.75 times subscription. Its QIB (qualified institutional buyer) category has been subscribed by 242.4 times.
The price band of the IPO was fixed at Rs 204 to Rs 215 apiece.
Indo Farm Equipment IPO GMP Today
According to market observers, unlisted shares of Indo Farm Equipment Ltd are currently trading at Rs 305 per share in the grey market, which is Rs 90 or 41.86 per cent higher than the IPO issue price of Rs 215. It indicates a strong listing on January 7.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Indo Farm Equipment IPO: More Details
The Rs 260-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.
Proceeds from the fresh issue will be used to set up a new dedicated unit for expansion of the company’s pick & carry cranes manufacturing capacity, payment of debt, investment in the company’s NBFC subsidiary Barota Finance for financing the augmentation of its capital base to meet its future capital requirements.
Indo Farm Equipment manufactures tractors, pick & carry cranes and other farm equipment.
At the upper end of the price band, the IPO size has been pegged at Rs 260 crore, placing the company’s market capitalisation at over Rs 1,000 crore.
Aryaman Financial Services is the sole book-running lead manager for the issue.
The equity shares will be listed on the BSE and NSE.
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