The Indo Farm Equipment IPO, which ran its public issue from December 31, 2024 to January 2, 2025, has garnered significant attention in the stock market.
With its listing just around the corner, let’s take a look at the 10 key points that investors should know about this mainboard issue.
GMP Premium
Prior to the allotment of shares tomorrow (January 3) and ahead of its official listing, the Grey Market Premium (GMP) for Indo Farm Equipment shares is trading at a Rs 90 premium, indicating a potential listing price of Rs 305 per share. This suggests a 41.86 per cent gain over the upper issue price of Rs 215.
IPO Timeline and Listing Date
The IPO opened for subscription from December 31, 2024, to January 2, 2025. After its three day subscription period, the allotment of shares is set to be finalised on January 3 and will be listed on the Indian bourses NSE and BSE on January 7.
Subscription Numbers
The IPO was oversubscribed by a whopping 66.23 times by the final day.
Retail Category – 51.78 times
Qualified Institutional Buyers (QIBs)- 12.02 times
Non-Institutional Investors (NIIs) – 172.25 times
Price Band and Fundraising Details
The IPO price band of the issue is set between Rs 204 to Rs 215 per share.
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Anchor Investors
Indo Farm Equipment has raised Rs 78.05 crore from anchor investors ahead of the IPO launch, with the anchor bidding taking place on December 30, 2024.
Key stakeholders and Lead managers
The IPO is managed by Aryaman Financial Services as the book-running lead manager. Mas Services serves as the registrar for the issue.
Fund utilisation
Proceeds from the IPO are expected to support the company’s expansion, operational improvements such as repayment or pre-payment of borrowings and strengthen its export strategy in emerging markets.
Financial Performance
In the fiscal year ending March 31, 2024, the company reported a 1 per cent increase in revenue and 1 per cent rise in profit after tax (PAT).
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