Indo Farm Equipment, a Chandigarh based company is gearing up to open its public issue on the very last day of the year, December 31.
Let’s take a look at the price band, GMP, risk factors and other key details prior to the issue opening.
1. IPO Opening and Closing Dates
The Indo Farm Equipment IPO will open for subscription on December 31 and is set to close its three day bidding window on January 2. Interestingly, the IPO’s subscription period straddles the end of 2024 and the beginning of 2025, giving investors two days in the new year to apply.
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2. Price Band and other details
The IPO is priced between Rs 204 to Rs 215 per share. At the upper price band, the company aims to raise Rs 260.15 crore, comprising a fresh issue of Rs 184.90 crore and an offer for sale (OFS) worth Rs 75.25 crore.
Also Read: Ventive Hospitality IPO to list on Dec 30: Cautious investors limit GMP to 10% – Here’s why
3. Grey Market Premium (GMP)
As of December 27 and the latest trend, the grey market premium for Indo Farm Equipment’s IPO is trading at a premium of Rs 85 per share. Based on this premium, shares are expected to list at around Rs 300, a 39.53 per cent gain from the upper price band of Rs 215.
4. Minimum Investment Details
Retail investors can apply for a minimum lot size of 69 shares, amounting to a sum of Rs 14,835 at the upper price band. For small Non-Institutional Investors (sNIIs), the minimum investment is 14 lots (966 shares) at Rs 2,07,690, while for big NIIs (bNIIs), it is 68 lots (4,692 shares) totaling to Rs 10,08,780.
5. Listing and Allotment Dates
The allotment of shares is expected to be finalised on January 3,
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