Kolkata: There has been high investor enthusiasm around Indo Farm Equipment IPO. By the end of day 2 of the application process investors poured in 54.74 times of the money the company is seeking to raise through this IPO. The retail portion of the issue garnered subscription of 46.07 times, while the QIB segment got 11.96 times and NII attracted 132.03 times subscription by the evening of January 1, 2025.
The issue successfully sold 36,30,000 shares at Rs 215 per share to anchor investors on December 30, a day before the issue opened for bidding. In the process, Indo Farm Equipment IPO got a total of Rs 78 crore. The issue has been designed to mop up Rs 260.15 crore from the market through the sale of fresh shares only.
Indo Farm Equipment IPO GMP
According to data from investorgain, Indo Farm Equipment IPO Grey Market Premium, or GMP, stood at Rs 90 on January 2, 2025. If the issue price is considered to be Rs 215, the listing price could be Rs 305, which signals a listing gain of 41.86%. What must be noted is that the GMP climbed down from Rs 95, where it stood on December 31 (first day of bidding). However, it must be mentioned that GMP is an unofficial gauge which often changes with time. Also, a GMP cannot guarantee anything– listing gain or loss.
Indo Farm Equipment IPO price band, allotment
For a face value of share the Indo Farm Equipment IPO price band has been fixed at Rs 204-215. Retail investors have to bid for a minimum of 69 shares, for which they have to earmark Rs 14,835 to bid. For Non-Institutional Investor (NII) category investors, the minimum application money stands at Rs 2,07,690 for 14 lots.
The date of listing for shares of Indo Farm Equipment IPO will take place on January 7. Allotment of shares will take place on January 3. If you have bid but not been fortunate enough to get shares, your money will be returned on January 6. Successful bidders will get shares credited to their demat accounts on the same day.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Bidding process for Indo Farm Equipment IPO ends today while allotment of shares will happen on January 3. At the end of the second day of the bidding process, investor enthusiasm centering the issue resulted in subscription of 54.74 times. GMP indicates significant listing gains. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
