Thu Jan 02 11:09:18 UTC 2025: ## Indo Farm Equipment IPO Closes Today After Overwhelming Demand
**Mumbai, January 2, 2025** – Investors have until the close of trading today to participate in the highly anticipated initial public offering (IPO) of Indo Farm Equipment Limited. The IPO, which opened on December 31st, has been significantly oversubscribed, exceeding expectations by a considerable margin.
The company aims to raise Rs 260.15 crore through a book-built issue, comprising a fresh issue of Rs 184.90 crore and an offer for sale of Rs 75.25 crore. Shares are priced between Rs 204 and Rs 215.
By the end of Day 2, the IPO was oversubscribed by a staggering 54.74 times. Retail investors alone subscribed 46.07 times their allocation, while Non-Institutional Investors (NII) showed overwhelming interest with a subscription rate of 132.03 times. Qualified Institutional Buyers (QIBs) also participated strongly, subscribing 11.96 times.
The grey market premium (GMP), while down slightly from yesterday, currently stands at Rs 90, suggesting a potential listing price of around Rs 305 (Rs 215 + Rs 90). This indicates a possible gain of approximately 41.86% per share upon listing on January 7th.
Established in 1994, Indo Farm Equipment manufactures tractors, cranes, and harvesting equipment, distributing its products under the Indo Farm and Indo Power brands. The company also enjoys significant export markets across several Asian and African countries.
Aryaman Financial Services Limited is the book-running lead manager for the IPO, with Mas Services Limited acting as the registrar. Share allotment is expected on January 3rd, with listing on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on January 7th.
First Piper 