The shares of Indo Farm Equipment were among the notable gainers on its listing day, making a strong debut on January 3. The stock was listed at ₹256 per share on the National Stock Exchange (NSE), marking a 19.07% premium from its IPO price of ₹215. On the Bombay Stock Exchange (BSE), the shares opened at ₹258.40, reflecting a 20.19% gain from the IPO price. The company’s market capitalization post-listing stood at ₹1,230.12 crore. Indo Farm Equipment’s initial public offering (IPO), valued at ₹260.15 crore, was open for subscription from December 31 to January 2, with a price band ranging from ₹204 to ₹215 per equity share.
Overview of Contents
Indo Farm Equipment IPO Subscription Status
The Indo Farm Equipment IPO saw an exceptional response, with an overall subscription of 229.68 times. The Qualified Institutional Buyers (QIBs) category was subscribed 242.40 times, while the Non-Institutional Investors (NIIs) category saw a massive 503.83 times subscription.
Retail Individual Investors (RIIs) subscribed 104.92 times, with cut-off bids dominating. In total, 194.54 crore shares were bid for against the reserved 84.70 lakh shares, reflecting strong investor enthusiasm.
Indo Farm Equipment IPO GMP
The last GMP for Indo Farm Equipment IPO is ₹76 (updated Jan 7, 2025, 09.30 AM). With a price band of ₹215, the estimated listing price is ₹291, indicating an expected gain of 35.35% per share.
Details About Indo Farm Equipment
Indo Farm Equipment IPO opened on December 31, 2024, and closed on January 2, 2025, aiming to raise ₹260.15 crores. The IPO comprises a fresh issue of ₹184.90 crores and an offer for sale of up to 35,00,000 equity shares with a face value of ₹10 each.
The price band is ₹204-₹215, with a retail quota of 35%, QIB at 50%, and HNI at 15%. The allotment date is January 3, 2025, and the listing is on NSE on January 7, 2025. In 2024, the company reported a revenue of ₹375.95 crores and a profit of ₹15.60 crores, showing steady growth. Given the financials, investors are advised to apply for long-term gains.
Indo Farm Equipment Company’s Financial Background
Indo Farm Equipment’s financial performance shows steady growth over the years. In 2022, revenue was ₹352.08 crores with a profit of ₹13.72 crores. In 2023, revenue increased to ₹371.82 crores, with a profit of ₹15.37 crores. In 2024, revenue further grew to ₹375.95 crores, with a profit of ₹15.60 crores. For June 2024, the company reported revenue of ₹75.54 crores and a profit of ₹2.45 crores, with assets totaling ₹644.27 crores.
Indo Farm Equipment IPO Dates
| IPO Open Date | Tuesday, December 31, 2024 |
| IPO Close Date | Thursday, January 2, 2025 |
| Basis of Allotment | Friday, January 3, 2025 |
| Initiation of Refunds | Monday, January 6, 2025 |
| Credit of Shares to Demat | Monday, January 6, 2025 |
| Listing Date | Tuesday, January 7, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on January 2, 2025 |