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Unlisted shares of Indo Farm Equipment Ltd are currently trading at Rs 308 per share in the grey market, which is Rs 93 or 43.26 per cent higher than the IPO issue price of Rs 215. It indicates a strong listing on January 7.
Indo Farm Equipment IPO Listing Date.
Indo Farm Equipment IPO Allotment Status: Even as the Indo Farm Equipment IPO allotment has been finalised on Saturday, all eyes are now on its listing on the BSE and NSE on Tuesday, January 7. The latest GMP currently stands at 43.26 per cent. Though it is slightly lower than the 46.05 per cent premium recorded a day ago on Friday, the latest GMP still signals a robust listing gain for investors.
The allotment of the Indo Farm Equipment IPO has been finalised. Investors can now check the IPO allotment status on the websites of the BSE and NSE, as well as on registrar Mas Services Ltd’s portal.
The initial public offering of Indo Farm Equipment Ltd, which was opened on between December 31 and January 2, received a whopping 227.67 times subscription. The retail category received a 101.79 times subscription in total, the NII (non-institutional investors) portion got 501.75 times subscription. Its QIB (qualified institutional buyer) category has been subscribed by 242.4 times.
The price band of the IPO was fixed at Rs 204 to Rs 215 apiece.
The shares of Indo Farm Equipment Ltd are scheduled to be listed on both BSE and NSE on January 7, Tuesday.
Indo Farm Equipment IPO: How To Check Allotment Status Online?
The IPO allotment status can be checked online by following these steps:
1) Go to the official BSE website via the URL —https://www.bseindia.com/investors/appli_check.aspx.
2) Under ‘Issue Type’, select ‘Equity’.
3) Under ‘Issue Name’, select ‘Indo Farm Equipment Ltd’ in the dropbox.
4) Enter your application number, or the Permanent Account Number (PAN).
5) Then, click on the ‘I am not a robot’ to verify yourself and hit ‘Search’ option.
Your share application status will appear on your screen.
You can also visit Mas Services Ltd’s portal directly — and check the Indo Farm Equipment IPO allotment status.
For those who could not get the IPO allotment, their money will be released soon.
Indo Farm Equipment IPO GMP Today
According to market observers, unlisted shares of Indo Farm Equipment Ltd are currently trading at Rs 308 per share in the grey market, which is Rs 93 or 43.26 per cent higher than the IPO issue price of Rs 215. It indicates a strong listing on January 7.
The GMP is lower than the 46.05 per cent premium recorded on Friday.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Indo Farm Equipment IPO: More Details
The Rs 260-crore initial public offering (IPO) has a fresh issue of 86 lakh equity shares and an Offer-for-Sale (OFS) of 35 lakh equity shares by promoter Ranbir Singh Khadwalia.
Proceeds from the fresh issue will be used to set up a new dedicated unit for expansion of the company’s pick & carry cranes manufacturing capacity, payment of debt, investment in the company’s NBFC subsidiary Barota Finance for financing the augmentation of its capital base to meet its future capital requirements.
Indo Farm Equipment manufactures tractors, pick & carry cranes and other farm equipment.
At the upper end of the price band, the IPO size has been pegged at Rs 260 crore, placing the company’s market capitalisation at over Rs 1,000 crore.
Aryaman Financial Services is the sole book-running lead manager for the issue.
The equity shares will be listed on the BSE and NSE.