Indo Farm Equipment IPO Day 3: GMP, Subscription Status, Allotment And Other Key Details

The grey market reflects a positive sentiment for the Indo Farm Equipment IPO, with shares currently trading at a premium of Rs 96, according to stock market observers

The Indo Farm Equipment IPO allotment is expected to take place on 3 January 2025, with the listing date likely scheduled for 7 January 2025

Source : ABPLIVE AI

The initial public offering (IPO) of Indo Farm Equipment Limited, which opened on 31 December 2024, will remain open for bidding until Thursday, 2 January 2025, giving investors just one more day to apply. The IPO, priced between Rs 204 and Rs 215 per share, has generated significant interest, with strong subscription levels in the first two days of the offering. Additionally, the grey market reflects a positive sentiment for the Indo Farm Equipment IPO, with shares currently trading at a premium of Rs 96, according to stock market observers. The total issue size stands at Rs 260.15 crore.

Indo Farm Equipment IPO GMP Today

The Grey Market Premium (GMP) for the Indo Farm Equipment IPO today stands at Rs 96, marking an Rs 11 increase from the Rs 85 GMP recorded on the first day of bidding, according to a Mint report. Market experts attribute the rise in the GMP to improved sentiments on Dalal Street and strong subscription numbers for the IPO. They also believe the grey market could turn more bullish if the Nifty 50 closes above 23,850 on Thursday.

Indo Farm Equipment IPO Subscription Status

As of 12:00 pm on day 3 of the bidding process, the Indo Farm Equipment IPO has been subscribed 96.15 times. The retail portion has been oversubscribed by 68.27 times, while the Non-Institutional Investors (NII) segment has been booked 267.58 times. The Qualified Institutional Buyers (QIB) segment has received applications for 17.42 times the shares available in the offering.

Anand Rathi has recommended a "subscribe" rating for the Indo Farm Equipment IPO for the long term. The firm believes that the company's traditional business model, experienced promoters, strategic capacity expansion, debt reduction, and strengthening of its financial arm position it well for long-term growth. Given these factors, Anand Rathi suggests investors consider the IPO as a "subscribe" opportunity for long-term investment.

The Indo Farm Equipment IPO allotment is expected to take place on 3 January 2025, with the listing date likely scheduled for 7 January 2025.