Thu Jan 02 13:14:00 UTC 2025: ## Indo Farm Equipment IPO Overwhelmed by Demand, Sets Listing Date

**MUMBAI, India** – Indo Farm Equipment Ltd.’s initial public offering (IPO) has concluded with phenomenal success, exceeding expectations by a significant margin. The IPO, which closed Thursday, saw a staggering 227.57 times subscription, making it one of the most oversubscribed IPOs in recent history, surpassing even Vibhor Steel Tubes and Manba Finance IPOs.

Non-Institutional Investors showed the most enthusiasm, with a 501.65 times oversubscription. Retail Individual Investors (RIIs) also participated strongly, subscribing 101.64 times the allotted shares, while Qualified Institutional Buyers (QIBs) subscribed 242.40 times. The IPO raised over ₹78 crore from anchor investors prior to the public offering.

The IPO, priced between ₹204 and ₹215 per share, offered a fresh issue of 86 lakh equity shares and an Offer-for-Sale (OFS) of 35 lakh shares. At the upper price band, the IPO size reached ₹260 crore, valuing the company at over ₹1,000 crore.

Grey market premiums (GMP) suggest significant investor optimism, with estimates placing the GMP around 40%, indicating a potential listing price significantly higher than the offer price. Investorgain quoted a GMP of ₹86.

Indo Farm Equipment shares are scheduled to be listed on the exchanges on January 7th, with allotment expected on January 3rd.

**Disclaimer:** *This news article is based on publicly available information. Investors are advised to conduct their own due diligence and seek professional financial advice before making any investment decisions.*

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