Indo Farm Equipment IPO, currently open for its second day of bidding on Wednesday (January 1), has captured significant investor interest with its soaring subscription numbers and a buzzing grey market premium (GMP).
Let’s take a closer look at the IPO details and what the market sentiments indicate.
Indo Farm Equipment IPO – Grey Market Premium
The grey market premium (GMP) for Indo Farm Equipment IPO as of its second day of bidding has surged to Rs 95 per share so far, indicating a positive listing performance, as per the recent trend. This premium suggests a likely listing price of Rs 310, which is approximately 44.19 per cent higher than the upper price band of Rs 215.
However, it is important to note that the grey market premium (GMP) is not the actual price and may is an informal indicator of market sentiment and may fluctuate based on demand, supply, and overall market conditions
Indo Farm Equipment IPO – Subscription numbers so far
As per the latest development, the Indo Farm Equipment IPO received a subscription of 34.51 times so far. The retail category has been subscribed 32.7 times. Subsequently, Non-Institutional Investors (NII) gained a subscription rate of 70.53 times, while Qualified Institutional Buyers (QIB) have subscribed 10.68 times till now.
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Allotment and Listing Details
The allotment of shares of this mainboard issue is scheduled on January 3, 2025 and the shares are expected to debut on the BSE and NSE on January 7, 2025.
Indo Farm Equipment IPO – Key Highlights
The Indo Farm Equipment IPO opened its three day subscription window on December 31, 2024, and will close its bidding window on January 2, 2025. Furthermore, the price band set by the issue is between Rs 204 to Rs 215 per share.
Investors can participate with a minimum lot size of 69 shares, requiring an investment of Rs 14,835. For small non-institutional investors (sNII), the minimum investment is Rs 2,07,690 for 14 lots (966 shares), while big non-institutional investors (bNII) need to invest Rs 10,08,780 for 68 lots (4,692 shares).
Prior to the opening of the issue, the IPO had already raised Rs 78.05 crore from anchor investors on December 30,
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