Indo Farm Equipment IPO share allotment is likely to be finalised on Jan. 3, after the company conducted a hugely successful bidding period for its shares.
The Indo Farm Equipment IPO witnessed mega traction in demand from investors across categories, with non-institutional investors (NIIs) taking the lead.
Overall, the issue was subscribed 229.68 times, with investors applying for 1,94,53,89,519 shares compared to 84,70,000 shares on offer. The NII segment was subscribed 503.83 times, while retail investors applied for 104.92 times their quota.
The offer was booked 242.40 times in the qualified institutional buyers (QIBs) category.
The Indo Farm Equipment IPO is valued at Rs 260.15 crore. The price band was set between Rs 204 and Rs 215 per share, with a face value of Rs 10 each. Shares of the company are expected to list on the BSE and the National Stock Exchange on Tuesday, Jan. 7.
Mas Services Ltd. has been appointed as the registrar for the Indo Farm Equipment IPO.
Investors who have placed their bids for the Indo Farm Equipment IPO can check their allotment status on BSE, NSE and registrar's websites by following the steps mentioned below.
How To Check Indo Farm Equipment IPO Share Allotment Status On BSE
Open the Application Status page of BSE here
Select 'Equity'
Select Indo Farm Equipment Limited from the dropdown menu
Enter your IPO application number or PAN details
Click on the 'I am not a Robot' box
Click on the Submit button to check the details of the allotment status
How To Check Indo Farm Equipment IPO Allotment Status On Mas Services
Visit the website of Mas Services here
Click on the 'IPO Allotment Status' option displayed on the page
Choose Indo Farm Equipment Limited from the list of companies
Choose one of the options among search on Dp_id/Client id or search on PAN No.
Enter the details based on your selection
Click on the ''Search button to see your allotment status
Investors can also check the Indo Farm Equipment IPO allotment on the NSE website by logging into their account or creating a new registration.
Indo Farm Equipment IPO GMP Today
The grey market premium of Indo Farm Equipment IPO was Rs 96 as of 6:58 a.m. on Jan. 3, according to InvestorGain. This projects a listing gain of 44.65%. Shares of Indo Farm Equipment are anticipated to list at Rs 311 at the upper end of the price band.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
Use of Proceeds
In its red herring prospectus, Indo Farm Equipment stated that the proceeds from its IPO would be used to expand its pick-and-carry crane manufacturing capacity by setting up a specialised unit. The company also plans to use the funds to pay off its debts and invest in its NBFC subsidiary, Barota Finance Ltd. The balance will be allocated for general corporate needs.
About Indo Farm Equipment Ltd.
Indo Farm Equipment Ltd., founded in 1994, specialises in the manufacturing of tractors, pick-and-carry cranes, and other harvesting equipment. Operating under the brand names Indo Farm and Indo Power, the company exports its products to countries including Nepal, Syria, Sudan, Bangladesh, Myanmar, and several others.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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