Thu Jan 02 14:31:19 UTC 2025: ## Indo Farm Equipment IPO Closes Today; Strong Subscription Rate and High GMP Indicate Potential Gains

**Mumbai, January 2, 2025** – The Initial Public Offering (IPO) of Indo Farm Equipment, a tractor manufacturer, closes today. The IPO, which opened on December 31st, has already seen an overwhelmingly positive response, subscribed 54.74 times over its offering. The company raised ₹78 crore from anchor investors before the IPO opened.

The IPO has attracted significant interest from various investor categories. The public issue received bids for 46,36,86,555 shares against the offer of 84,70,000 shares. Non-Institutional Investors (NIIs) alone subscribed 132.03 times, while Qualified Institutional Buyers (QIBs) subscribed over 11.96 times. Retail investors (RIIs) also showed strong interest, subscribing 46.07 times over.

Adding to the positive outlook, the IPO’s grey market premium (GMP) is currently at ₹90, suggesting a potential listing price of ₹305, a 41.86% increase from the upper end of the IPO price band of ₹215.

Indo Farm Equipment’s IPO consists of a fresh issue of 8.6 million equity shares and an offer for sale (OFS) of 3.5 million equity shares by promoter Ranbir Singh Khadwalia. The company has set the price band at ₹204-₹215 per share, aiming to raise ₹260 crore. A minimum investment of ₹14,835 is required for retail investors (69 shares per lot).

Several brokerage firms, including Bajaj Broking, recommend subscribing to the IPO for long-term gains, citing the company’s consistent financial growth over the past few fiscal years. The company reported total income of ₹375.95 crore and a net profit of ₹15.60 crore in FY24.

The strong subscription, high GMP, and positive brokerage recommendations suggest a potentially lucrative investment opportunity, but investors are advised to conduct their own due diligence before making investment decisions. The year 2024 witnessed a surge in IPO activity, with expectations of this trend continuing into 2025.

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