Indo Farm Equipment IPO Listing: A confident start in the stock market with 20 % more than the book value.
New farm equipment manufacturer Indo Farm Equipment was listed on stock exchange on Tuesday, January 7, 2005 after it floated it’s IPO successfully.
Indo Farm Equipment began trading at ₹258.40 on the BSE, a premium of ₹43.40 or 20.19% to its issue price of ₹215. At the National Stock Exchange (NSE) the same shares floated at ₹256 indicating slightly lower premium of ₹41 or 19.07%.
Even during the period owing to the strong listing the shares were trading below the grey market premium (GMP) prediction levels. In the grey market, Indo Farm Equipment shares were trading at ₹291, a premium of ₹76 or 35.35% an issue price.
Analysis of Indo Farm Equipment IPO Companies Market Performance
Indo Farm Equipment’s IPO opened at ₹ 204-215 per share with a lot of 69 shares. The period of subscription included December 31, 2024 and January 02, 2025 upon admission to the Stock Exchange.
The issue finally closed at ₹260.15 crore, attracting bids for 1,94,53,89,519 shares against 84,70,000 shares on offer, an oversubscription of 229.68 times, as the data available with the BSE showed.
The most active were the Non-Institutional Investors (NIIs) which subscribed 503.83 times their reserved quota. This was done with QIBs at a 242.40 times of the IPO size and RIIs at 104.92 times of the IPO size.
The share allotment basis was determined on the Friday, the 3rd of January in the year 2025. Mas Services was the issue’s registrar and Aryaman Financial Services was the sole book running lead manager of the issue.
About Indo Farm Equipment
Indo Farm Equipment was established in year 1994 and is already a large and completely vertical manufacturer of tractors and pick-and-carry cranes. Some other farm machinery produced by the company includes harvester combines, rotavators and spare parts, but their sales form a very small portion of the company’s overall turnover.
By the September 30, 2024, Indo Farm Equipment has the production facilities that can construct 12, 000 tractors and one thousand, two hundred & eighty pick-and-carry cranes per annum.
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