Unlisted shares of Indo Farm Equipment Ltd are currently trading at Rs 311 per share in the gray market, up by Rs 96 or 44.65% from the IPO issue price of Rs 215. This indicates a strong listing on January 7.
Indo Farm Equipment IPO Allotment Status
Indo Farm Equipment IPO Allotment Status: The allotment of Indo Farm Equipment IPO will be finalized today, Friday, evening. The initial public offering of Indo Farm Equipment Ltd closed on Thursday and received 227.67 times subscription. The Senores Pharmaceuticals IPO listing will take place on Tuesday, January 7. The latest GMP currently stands at 44.65 percent, indicating strong gains in the listing for investors.
The initial public offer of Indo Farm Equipment Ltd, which was opened between December 31 and January 2, was grossly oversubscribed by 227.67 times. The retail category received an overall subscription of 101.79 times, the NII (non-institutional investors) segment received a subscription of 501.75 times. Its QIB (Qualified Institutional Buyer) category is oversubscribed 242.4 times.
The price band of the IPO was fixed at Rs 204 to Rs 215 per piece.
Shares of Indo Farm Equipment Ltd are scheduled to be listed on both BSE and NSE on Tuesday, January 7.
The IPO allotment will be finalized on Friday evening. On allotment, investors will receive a bank debit message. Investors can check the IPO allotment status on the websites of BSE and NSE as well as on the portal of Registrar Mass Services Limited.
Indo Farm Equipment IPO GMP Today
According to market observers, the unlisted shares of Indo Farm Equipment Ltd are currently trading at Rs 311 per share in the gray market, up by Rs 96 or 44.65 per cent from the IPO price of Rs 215. This indicates a strong listing on January. 7.
GMP is based on market sentiment and changes. The ‘grey market premium’ indicates the willingness of investors to pay more than the issue price.
Indo Farm Equipment IPO: How to Check Allotment Status Online?
IPO allotment status can be checked online by following these steps:
1) Visit BSE official website via 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 drop box.
4) Enter your Application Number, or Permanent Account Number (PAN).
5) Then, click on ‘I am not a robot’ to confirm yourself and press ‘Search’ option.
The status of your share request will be displayed on your screen.
You can also go directly to Mas Services Ltd portal. https://www.masserv.com/opt.asp And Check Indo Farm Equipment IPO Allotment Status.
Indo Farm Equipment IPO: More Details
The Rs 260 crore initial public offer (IPO) consists of 8.6 lakh equity shares and an offer for sale (OFS) of 3.5 lakh equity shares by promoter Ranbir Singh Khadwalia.
Proceeds from the fresh issue will be used to expand the company’s manufacturing capacity of pick and carry cranes, repay debt, set up a new dedicated unit for investment in the company’s NBFC subsidiary Barota Finance. In order to increase its capital base for future capital requirements
Indo Farm Equipment manufactures tractors, pick and carry cranes and other farm equipment.
At the upper end of the price band, the IPO size is pegged at Rs 260 crore, taking the company’s market capitalization to over Rs 1,000 crore.
Ariman Financial Services is the sole book-running lead manager for the issue.
The equity shares will be listed on BSE and NSE.