The unlisted shares of Indo Farm Equipment Ltd are currently trading at Rs 308 per share in the gray market, up by Rs 93 or 43.26 per cent from the IPO price of Rs 215. This 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 is finalized on Saturday, all eyes are now on its listing on BSE and NSE on Tuesday, January 7. The latest GMP is currently 43.26%. While this is slightly lower than the 46.05 percent premium recorded a day earlier on Friday, the latest GMP still signals a strong gain in the listing for investors.
Allotment of Indo Farm Equipment IPO has been finalized. Investors can now check the IPO allotment status on the websites of BSE and NSE as well as on the portal of Registrar Mass Services Limited.
The initial public offer of Indo Farm Equipment Ltd, which was opened between December 31 and January 2, was subscribed 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 has been subscribed 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.
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 the portal of Mass Services Limited. https://www.masserv.com/opt.asp And Check Indo Farm Equipment IPO Allotment Status.
Those who could not get the IPO allotment will be released soon.
Indo Farm Equipment IPO GMP Today
According to market observers, the unlisted shares of Indo Farm Equipment Ltd are currently trading at Rs 308 per share in the gray market, up by Rs 93 or 43.26 per cent from the IPO issue price of Rs 215. This indicates a strong listing on January. 7.
GMP is down from the 46.05 percent premium recorded on Friday.
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: 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 investments 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.