Tue Dec 31 07:26:43 UTC 2024: ## Indo Farm Equipment IPO Opens with Strong Demand, Priced at Premium

**MUMBAI, December 31, 2024** – Indo Farm Equipment Limited’s initial public offering (IPO) opened today, with strong early demand. The IPO, aiming to raise ₹260.15 crore, offers shares at a price band of ₹204 to ₹215. Within hours of opening, the issue was oversubscribed 6.39 times, with retail and institutional investors showing particularly strong interest (9.16x and 8.40x subscription, respectively).

The grey market already indicates a positive outlook, with shares trading at a premium of ₹82. The IPO closes on January 2, 2025, with allotment expected on January 3rd and listing on the BSE and NSE tentatively scheduled for January 7, 2024. One lot consists of 69 shares. Aryaman Financial Services Limited is the lead manager, and Mas Services Limited is the registrar.

While the company has shown consistent growth in recent years, with net profits increasing steadily, some analysts express concern about the IPO’s pricing. StoxBox’s Palak Devadiga recommends subscribing, citing improving sales and industry trends, despite a high P/E ratio of 51.8x on the upper price band based on FY24 earnings. However, Bajaj Broking cautions that the P/E ratio appears aggressively priced, reaching 105.39x based on annualized FY25 earnings.

Investors are advised to consult with financial advisors before making investment decisions.

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