Kolkata: Indo Farm Equipment IPO has triggered remarkable enthusiasm from investors. At the end of Day 1 of the bidding process on Tuesday, December 31, 2024, the issue was subscribed 17.87 times. Indo Farm Equipment IPO garnered 18.82 times subscription in the retail category, 8.1 times in QIB and 28.68 times in the NII segment. As soon as bidding began on December 31 morning, applications poured in and by 2:30 pm, the issue garnered a subscription level of 12.77 times.
Significantly, on December 30, Indo Farm Equipment IPO successfully mopped up Rs 78 crore from as many as 11 anchor investors. Together they picked up 36,30,000 shares at Rs 215 per share. Indo Farm Equipment IPO is designed to raise Rs 260.15 crore through the sale of fresh shares only.
Indo Farm Equipment IPO GMP
According to investorgain, the Indo Farm Equipment IPO GMP (Grey Market Premium) rose to Rs 95 on December 31 (first day of bidding) from Rs 80 on December 30, 2024. Considering the price of a share at Rs 215, the GMP of Rs 95 indicates a listing price of Rs 310, and therefore, a listing gain of 44.19%. However, it should be pointed out that GMP is an unofficial indicator which can, and often does, change with time. Furthermore, a GMP cannot guarantee anything– listing gain or loss.
Indo Farm Equipment IPO price band, lot size, allotment
The Indo Farm Equipment IPO price band has been set at Rs 204-215. The face value of an equity share is Rs 10. For retail investors of Indo Farm Equipment IPO the minimum lot size has 69 shares, which need an amount of Rs 14,835 to bid. For Non-Institutional Investor (NII) category investors, the minimum application money is Rs 2,07,690 for 14 lots.
Indo Farm Equipment IPO allotment is expected on January 3 and listing will take place on January 7. Unsuccessful bidders will get back their application money on January 6, while successful bidders will get the shares in 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 for Indo Farm Equipment IPO began on December 31, 2024 and is set to continue till January 2, 2025. But on the very first day it garnered nearly 18 times the required subscription level. The price band of the share is Rs 204-215. The GMP, or Grey Market Premium rose on the first day of bidding signalling significant listing gains. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
