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Unlisted shares of Indo Farm Equipment Ltd are currently trading at Rs 311 per share in the grey market, which is Rs 96 or 44.65 per cent higher than the IPO issue price of Rs 215. It indicates a strong listing on January 7.
Indo Farm Equipment IPO Allotment Status.
Indo Farm Equipment IPO Allotment Status: The allotment of the Indo Farm Equipment IPO is set to be finalised today, Friday. The initial public offering of Indo Farm Equipment Ltd closed on Thursday and received a whopping 227.67 times subscription. The Senores Pharmaceuticals IPO listing will take place on Tuesday, January 7. The latest GMP currently stands at 44.65 per cent, signalling a strong listing gain for investors.
The initial public offering of Indo Farm Equipment Ltd, which was opened on between December 31 and January 2, received an overall 227.67 times subscription. The retail category recieved a 101.79 times subscription in total, the NII (non-institutional investors) portion got 501.75 times subscription. Its QIB (qualified institutional buyer) category has been subscribed by 242.4 times.
The price band of the IPO was fixed at Rs 204 to Rs 215 apiece.
The shares of Indo Farm Equipment Ltd are scheduled to be listed on both BSE and NSE on January 7, Tuesday.
The IPO allotment will be finalised in the Friday evening. If allotted, investors will receive a bank debit message. Investors can also check the IPO allotment status on the websites of BSE and NSE, as well as on registrar Mas Services Limited’s portal.
Indo Farm Equipment IPO GMP Today
According to market observers, unlisted shares of Indo Farm Equipment Ltd are currently trading at Rs 311 per share in the grey market, which is Rs 96 or 44.65 per cent higher than the IPO issue price of Rs 215. It indicates a strong listing on January 7.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Indo Farm Equipment IPO: How To Check Allotment Status Online?
The IPO allotment status can be checked online by following these steps:
1) Go to the official BSE website via the URL —https://www.bseindia.com/investors/appli_check.aspx.
2) Under ‘Issue Type’, select ‘Equity’.
3) Under ‘Issue Name’, select ‘Indo Farm Equipment Ltd’ in the dropbox.
4) Enter your application number, or the Permanent Account Number (PAN).
5) Then, click on the ‘I am not a robot’ to verify yourself and hit ‘Search’ option.
Your share application status will appear on your screen.
You can also visit direct Mas Services Ltd’s portal — and check the Indo Farm Equipment IPO allotment status.
Indo Farm Equipment IPO: More Details
The Rs 260-crore initial public offering (IPO) has a fresh issue of 86 lakh equity shares and an Offer-for-Sale (OFS) of 35 lakh equity shares by promoter Ranbir Singh Khadwalia.
Proceeds from the fresh issue will be used to set up a new dedicated unit for expansion of the company’s pick & carry cranes manufacturing capacity, payment of debt, investment in the company’s NBFC subsidiary Barota Finance for financing the augmentation of its capital base to meet its future capital requirements.
Indo Farm Equipment manufactures tractors, pick & carry cranes and other farm equipment.
At the upper end of the price band, the IPO size has been pegged at Rs 260 crore, placing the company’s market capitalisation at over Rs 1,000 crore.
Aryaman Financial Services is the sole book-running lead manager for the issue.
The equity shares will be listed on the BSE and NSE.
