Indo Farm IPO Listing Price: Indo Farm Equipment, a company that manufactures tractors and agricultural equipment, was listed on the Indian stock market today. However, the listing price was not as expected. The company’s shares were listed on the BSE at Rs 258.40, reflecting a premium of about 20 per cent. Similarly, the shares were listed on the NSE at Rs 256.00, with a premium of 19.07 per cent. At 10:53 am on Tuesday, when this news was being written, Indo Farm shares were trading at Rs 282.75 on the BSE, marking a gain of Rs 67.75 (31.51%) from the issue price.
The IPO Received 229.68 Times Subscription
The Indo Farm IPO opened on December 31 and closed on January 2, receiving a total subscription of 229.68 times. Given the massive subscription, it was expected that the company’s shares would be listed in the market with a strong premium, but this did not happen.
Indo Farm Equipment IPO Listed at INR 256 pic.twitter.com/IZVkofrPAC
— IPO India (@india_ipo) January 7, 2025
The Price Band Set by the Company
Indo Farm had set a price band of Rs 204 to Rs 215 for each share under its IPO. The company raised a total of Rs 260.15 crore through this IPO by issuing 1,21,00,000 shares. Of these, 86,00,000 new shares worth Rs 184.90 crore were issued, and 35,00,000 shares worth Rs 75.25 crore were issued through an Offer for Sale (OFS).
Stock Market Chaos on Monday
The stock market experienced chaos on Monday due to various factors. The BSE Sensex closed at 77,964.99 points, down by 1,258.12 points, while the NSE Nifty 50 fell by 388.70 points, closing at 23,616.05 points. However, the market opened in the green on Tuesday and was trading positively at the time of writing.
Indo Farm IPO Subscription Details
The Indo Farm Equipment IPO was subscribed 227.67 times in total. In the retail category, it received 101.79 times the number of applications. The Qualified Institutional Buyers (QIB) segment was subscribed 242.4 times. The Non-Institutional Investors (NII) category saw overwhelming demand, with a subscription of 501.75 times.
About Indo Farm’s Business
Founded in 1994, Indo Farm Equipment manufactures tractors, cranes, and harvesting equipment under the brands Indo Farm and Indo Power. The company exports its products to countries such as Nepal, Sudan, Bangladesh, and Myanmar.
IPO Details
Indo Farm’s IPO opened on December 31, 2024, and closed on January 2, 2025. Share allotments were finalized on January 3. The total size of the IPO was Rs 260.15 crore (Indo Farm IPO Update).
Disclaimer:
The information shared is about an IPO listing and not investment advice. The equity market carries risks, so invest cautiously and seek expert advice before making any investment decisions. Times Bull will not be responsible for any financial investments made, as it is entirely your responsibility. Please consult a financial advisor for better results.