Thu Jan 02 14:53:43 UTC 2025: ## Indo Farm Equipment IPO Oversubscribed by 199 Times on Final Day

**MUMBAI, January 2, 2025** – The initial public offering (IPO) of Indo Farm Equipment has received an overwhelming response on its final day, closing with a subscription of 199.79 times. The IPO received bids for 169.22 crore shares against the offered 84.70 lakh shares. The company aims to raise ₹260.15 crore through the mainboard IPO, which will be listed on the BSE and NSE. The price band for the IPO was set at ₹204-₹215 per share.

The strong demand was particularly evident in the Non-Institutional Investors (NII) category, which saw a subscription of 471.17 times, while Qualified Institutional Buyers (QIB) subscribed 184.48 times.

The grey market premium (GMP) for Indo Farm Equipment’s IPO is currently at ₹91, suggesting a potential listing price of ₹306, representing a potential return of 42.33% for investors. However, investors are cautioned that GMPs are highly volatile and not a reliable indicator of listing price.

The IPO comprises 0.86 crore new shares worth ₹184.90 crore and an offer for sale (OFS) of 0.35 crore existing shares valued at ₹75.25 crore. The minimum investment for retail investors is ₹14,835 (for 69 shares). Share allotment is scheduled for January 3, refunds from January 6, and listing is expected on January 7. Aryaman Financial Services Limited is the book running lead manager, and MAS Services Limited is the registrar.

Indo Farm Equipment, with over two decades of experience, manufactures tractors (16 HP to 110 HP) and pick-and-carry cranes (9 tons to 30 tons). Analysts highlight a three-segment business model encompassing tractors, cranes, and a non-banking financial company (NBFC) arm. The IPO proceeds are expected to strengthen the company’s dealer network through investment in Barota Finance, thereby boosting tractor sales.

**Disclaimer:** This information is for informational purposes only. Investment in the market is subject to risks. Consult with an expert before making any investment decisions. Moneycontrol does not endorse any specific investment.

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