Indo Farm Equipment IPO Day 1 Live Updates: The initial public offering (IPO) of tractor manufacturer Indo Farm Equipment Ltd opened for subscription today, December 31, and will close on January 2. Indo Farm Equipment IPO price band has been set at ₹204 to ₹215 per share. At the upper-end of the price band, the company aims to raise ₹260.15 crore from the book-built issue which is a combination of fresh issue of 86 lakh equity shares worth ₹184.90 crore and offer-for-sale of 35 lakh shares amounting to ₹75.25 crore. The company has already raised ₹78 crore from anchor investors ahead of the issue opening. Stay tuned to our Indo Farm Equipment IPO Live blog for the latest updates.
Indo Farm Equipment IPO Live: A look at Indo Farm Equipment’s peer comparison
Indo Farm Equipment IPO Live: A look at Indo Farm Equipment’s listed peers
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Indo Farm Equipment IPO Live: Issue subscribed over 8 times so far
Indo Farm Equipment IPO Live: Indo Farm Equipment IPO has been subscribed 8.04 times so far as the issue received bids for 6.81 crore equity shares as against 84.70 lakh shares on the offer, as per NSE data till 12:55 PM. The Retail Investors category has been booked 10.86 times, while the Non Institutional Investors (NII) segment has been subscribed 10.82 times so far. The Qualified Institutional Buyers (QIBs) portion has been booked 1.02 times.
Indo Farm Equipment IPO Live: Indo Farm Equipment IPO Objectives
Indo Farm Equipment IPO Live: Indo Farm Equipment plans to utilise the net issue proceeds for setting up a new dedicated unit to expand their pick & carry cranes manufacturing capacity which will cost around ₹70 crore, repayment or pre-payment of certain borrowings availed by the company upto ₹50 crore, further investment in NBFC Subsidiary (Barota Finance Ltd.) for financing the augmentation of its capital base to meet its future capital requirements upto ₹45 crore and for general corporate purposes.
Indo Farm Equipment IPO Live: Subscribe for the long term, recommends Canara Bank Securities
Indo Farm Equipment IPO Live: As of March 2024, Indo Farm Equipment IPO is priced at a P/E ratio of 51.81x, compared to the industry average of 43.82x, which indicates a valuation that appears expensive relative to its peers. Given the company’s growth potential and market positioning, we recommend to ‘Subscribe’ this issue for the long term, for investors willing to take on high risks, said Canara Bank Securities.
Indo Farm Equipment IPO Live: Issue subscribed 3.7 times so far
Indo Farm Equipment IPO Live: Indo Farm Equipment IPO has been subscribed 3.73 times so far as the issue received bids for 3.15 crore equity shares as against 84.70 lakh shares on the offer, as per NSE data till 11:00 AM. The Retail Investors category has been booked 5.68 times, while the Non Institutional Investors (NII) segment has been subscribed 4.12 times so far. The Qualified Institutional Buyers (QIBs) are yet to place their bids.
Indo Farm Equipment IPO Live: Indo Farm Equipment IPO GMP today is 37%
Indo Farm Equipment IPO Live: Indo Farm Equipment shares are commanding a strong grey market premium (GMP) today. According to stock market observers, Indo Farm Equipment IPO GMP today is ₹80 per share. This indicates that in the grey market, Indo Farm Equipment shares are trading at ₹295 apiece, a premium of 37% to the issue price of ₹215 per share.
Indo Farm Equipment IPO Live: Mas Services is Indo Farm Equipment IPO registrar
Indo Farm Equipment IPO Live: Aryaman Financial Services is the book running lead manager of the Indo Farm Equipment IPO, while Mas Services is the IPO registrar.
Indo Farm Equipment IPO Live: Issue fully subscribed
Indo Farm Equipment IPO Live: Indo Farm Equipment IPO has been fully subscribed within minutes of issue opening amid high demand. Indo Farm Equipment IPO has been subscribed 1.32 times so far as the issue received bids for 1.11 crore equity shares as against 84.70 lakh shares on the offer, as per NSE data till 10:20 AM. The Retail Investors category has been booked 1.93 times, while the Non Institutional Investors (NII) segment has been subscribed 1.63 times so far. The Qualified Institutional Buyers (QIBs) are yet to place their bids.
Indo Farm Equipment IPO Live: NII category fully booked within minutes of opening
Indo Farm Equipment IPO Live: The bidding for Indo Farm Equipment IPO commenced at 10:00 AM today and has strong demand. Indo Farm Equipment IPO has been subscribed more than 50% within minutes of opening. The Non Institutional Investors (NII) has been fully booked, while the retail investors’ segment is subscribed 61% so far.
Indo Farm Equipment IPO Live: Company raises ₹78 crore from anchor investors
Indo Farm Equipment IPO Live: Indo Farm Equipment raised ₹78 crore from anchor investors ahead of its IPO subscription opening. The company has allotted 36.30 lakh shares to 11 entities at ₹215 per equity share, the upper end of the price band. This aggregates the transaction size to ₹78.04 crore. Negen Undiscovered Value Fund, Niveshaay Hedgehogs, Rajasthan Global Securities, Subham Capital, India Equity Fund I, Saint Capital Fund and Vikasa India EIF I Fund – Share Class P, among others, are the anchor investors.
Indo Farm Equipment IPO Live: Price band set at ₹204 to ₹215 per share
Indo Farm Equipment IPO Live: Indo Farm Equipment IPO price band has been set at ₹204 to ₹215 per share. At the upper-end of the price band, the company aims to raise ₹260.15 crore from the book-built issue which is a combination of fresh issue of 86 lakh equity shares worth ₹184.90 crore and offer-for-sale of 35 lakh shares amounting to ₹75.25 crore.
Indo Farm Equipment IPO Live: Issue opens for subscription today
Indo Farm Equipment IPO Live: The initial public offering (IPO) of tractor manufacturer Indo Farm Equipment Ltd opens for subscription today, December 31, and will close on January 2.
