Thu Jan 02 12:23:26 UTC 2025: ## Indo Farm Equipment IPO Oversubscribed by 200 Times

**Mumbai, India** – Indo Farm Equipment Ltd.’s initial public offering (IPO) concluded today with overwhelming success, receiving bids 200 times higher than the shares offered. The IPO, priced between Rs 204 and Rs 215 per share, saw a total of 168 crore shares bid for, against the 84.70 lakh shares on offer. This marks one of the highest subscription rates since February, surpassed only by Manba Finance and Vibhor Steel Tubes.

Non-Institutional Investors showed particularly strong interest, with their quota subscribed 470.23 times. Retail Individual Investors (RIIs) and Qualified Institutional Buyers (QIBs) also heavily participated, subscribing 91.91 and 184.48 times, respectively. The company earlier raised over Rs 78 crore from anchor investors.

The grey market premium (GMP) for Indo Farm Equipment shares is currently estimated at around 40 percent, with some quoting a GMP of Rs 86. The shares are slated to be listed on the exchanges on January 7th, with allotment expected on January 3rd. The IPO, totaling Rs 260 crore, consists of a fresh issue of 86 lakh equity shares and an Offer-for-Sale (OFS) of 35 lakh shares by promoter Ranbir Singh Khadwalia. At the upper price band, the company’s market capitalization will exceed Rs 1,000 crore.

**Note:** This news report summarizes information from the provided text and does not constitute investment advice. Consult with a certified financial expert before making any investment decisions.

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