Indo Farm Equipment Makes Strong Debut At 20 Per Cent Premium, Check Share Price

The company’s shares began trading on Tuesday at Rs 256 apiece on the NSE, reflecting a premium of 19 per cent against the issue price.

Meanwhile, on the BSE, the firm’s shares were listed at Rs 258.40 per piece, clocking a premium of 20 per cent against the issue price

Source : Groww

Indo Farm Equipment made a strong debut in the stock market on January 7, 2025. The company’s shares began trading on Tuesday at Rs 256 apiece on the NSE, reflecting a premium of 19 per cent against the issue price. Meanwhile, on the BSE, the firm’s shares were listed at Rs 258.40 per piece, clocking a premium of 20 per cent against the issue price.

The maiden issue was priced in the range of Rs 204 to Rs 215 per equity share. This premium against the issue price reflected bumper yields for the investors. Around 12:21 PM, the company’s shares traded at Rs 280.85 per piece on the BSE, while the shares commanded a price of Rs 281.15 apiece on the NSE.

Indo Farm Equipment IPO

The IPO remained very popular with investors and received 227.67 times subscriptions. The retail investors placed 102 times bids for their reserved quota, while the bidding was dominated by Non-Institutional Investors (NIIs) who subscribed 501.75 times their quota.

The maiden issue worth Rs 260 crore was made up of fresh equity and an offer-for-sale (OFS) component. The IPO included an issuance of 86 lakh shares worth Rs 185 crore approximately and an OFS made up of 35 lakh shares coming up to Rs 75.25 crore.

The IPO accepted subscriptions from investors from December 31, 2024 to January 2, 2025. The sole book-running lead manager of the issue was Aryaman Financial Services, while Mas Services was named the registrar for the listing.

The company deals in manufacturing tractors, pick & carry cranes, along with other harvesting equipment. The firm operates two brands, namely, Indo Farm and Indo Power.

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