Thu Jan 02 12:23:27 UTC 2025: ## Indo Farm Equipment IPO Oversubscribed by 96 Times on Day 3
**Mumbai, January 2, 2025** – The Initial Public Offering (IPO) of Indo Farm Equipment, a tractor manufacturer, is witnessing an unprecedented surge in investor interest. By 11:51 AM on January 2nd, the final day of subscription, the IPO was oversubscribed by a staggering 96.15 times. This follows an already impressive 17.70 times oversubscription on the first day and 54.44 times on the second. Analysts predict the final oversubscription could exceed 100 times.
The IPO, which opened on December 31st, aims to raise ₹260.15 crore by issuing 1,21,00,000 shares. This includes 86,00,000 new shares worth ₹184.90 crore and 35,00,000 shares offered through an Offer for Sale (OFS) valued at ₹75.25 crore. The price band for each share is fixed between ₹204 and ₹215.
Share allotment is scheduled for January 3rd, refunds for unsuccessful applicants will be processed by January 6th, and shares will be credited to demat accounts on the same day. Indo Farm Equipment is expected to list on the Indian stock exchanges on January 7th.
The grey market premium (GMP) for Indo Farm Equipment shares has also been exceptionally high, reaching ₹90 (a 41.86% premium) on January 2nd, up from ₹80 on December 30th. However, the GMP is subject to fluctuation until the listing. The overwhelming response to the IPO reflects strong investor confidence in the company’s prospects.
First Piper 