January 7, 2025
New Delhi, India
Indo Farm Equipment IPO
The shares of Indo Farm Equipment, a prominent manufacturer of agricultural and harvesting equipment, made a strong debut on the stock exchanges on January 7, 2025, following the completion of its highly oversubscribed IPO.
Listing Details:
- BSE Listing: The stock opened at ₹258.40, reflecting a 20.19% premium over its issue price of ₹215.
- NSE Listing: On the NSE, the shares debuted at ₹256, marking a 19.07% premium.
- Investor Returns: Allottees gained approximately ₹43 per share, equivalent to over 38% profit from the issue price.
IPO Overview:
The ₹260.15 crore IPO featured:
- A fresh issue of 0.86 crore shares, valued at ₹184.9 crore.
- An offer-for-sale (OFS) of 0.35 crore shares, worth ₹75.25 crore.
The IPO received significant interest, with non-institutional investors leading the demand and subscriptions reaching 501.65 times.
Grey Market Premium (GMP):
- Prior to listing, the shares traded at ₹291 in the grey market, indicating a premium of ₹76 (35.35%) over the issue price.
- Despite the listing price being below GMP estimates, the performance exceeded investor expectations.
About Indo Farm Equipment:
Founded in 1994, Indo Farm Equipment specializes in the production of tractors, cranes, and harvesting equipment under its brands Indo Farm and Indo Power. The company has a strong international presence, exporting to markets like Nepal, Sudan, Bangladesh, and Myanmar.
Outlook:
The successful IPO and strong market debut highlight Indo Farm Equipment’s robust growth potential and investor confidence in the agricultural equipment sector. With a rich history of innovation and global reach, the company is well-positioned for future expansion.
At the time of writing this article, Indo Farm Equipment IPO shares were trading 32% higher at 283 a piece on NSE by 11:18 AM IST.
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