Indo Farm Equipment IPO subscribed 230 times; high net-worth individual portion booked 504 times
Indo Farm Equipment shares are set to be listed on stock exchanges BSE and NSE on Tuesday, January 7, 2025.
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Himachal Pradesh-based tractor maker Indo Farm Equipment's initial public offer, to raise up to Rs 260 crore through a combination of fresh issuance and an offer for sale (OFS), concluded with an overall subscription of 229.7 times on Thursday, January 2. The IPO received a phenomenal response from investors, reflected in a strong oversubscription across categories including retail investors and high net-worth individual investors. At the end of the three-day process, the public offer received bids for 194.5 crore shares against the 84.7 lakh shares on offer, translating to an overall subscription 229.7 times, according to provisional exchange data. The IPO comprised fresh issuance to the tune of Rs 185 crore and an offer for sale worth Rs 75 crore by promoters and existing shareholders.
Indo Farm Equipment & Listing | Here are key things to know:
Subscription Numbers
| Investor Type | Subscription (No. of times the shares reserved) |
| Qualified institutional buyers (QIBs) | 242.4 |
| Non-institutional investors (NIIs)—also known as high net-worth individuals | 503.8 |
| Retail individual investors (RIIs) | 104.9 |
| Total | 229.7 |
Indo Farm Equipment Listing
The company's shares are set to be listed on stock exchanges tentatively on January 7.
Under the IPO, Indo Farm Equipment shares were available for bidding, from 10 am to 5 pm, in a price band of Rs 204-215 per share.
The IPO opened for subscription on the last day of 2024 and closed on January 2.
Given that the IPO is a combination of fresh issuance and an OFS, a portion of the proceeds will go to the company.
What is Indo Farm Equipment and what does it do?
Headquartered in Baddi, Himachal Pradesh, Indo Farm Equipment is a manufacturer of cranes and tractors.
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