Founded in 1994, Chandigarh-based Indo Farm Equipment specializes in manufacturing a wide range of agricultural machinery, including tractors, pick-and-carry cranes, and harvesting equipment. Operating under two prominent brands, Indo Farm and Indo Power, the company caters to international markets such as Nepal, Syria, Sudan, Bangladesh, and Myanmar, in addition to its domestic footprint.
IPO Details
- Price Band: ₹204-₹215 per share
- Lot Size: 69 shares
- Total Issue Size: ₹260.15 crore
- Fresh Issue: ₹184.90 crore (86 lakh equity shares)
- Offer for Sale (OFS): ₹75.25 crore (35 lakh equity shares)
- Bidding Period: December 31, 2024 – January 02, 2025
Subscription Highlights
The IPO received an overwhelming response, with a total subscription of 229.68 times, generating bids worth approximately ₹42,000 crore from over 54.16 lakh applications. Here’s a category-wise breakdown:
| Investor Category | Subscription Times |
|---|---|
| Qualified Institutional Buyers (QIBs) | 242.40 |
| Non-Institutional Investors (NIIs) | 503.83 |
| Retail Investors | 104.92 |
Grey Market Premium (GMP) Performance
The grey market premium (GMP) for Indo Farm Equipment IPO surged significantly due to strong investor demand. Starting at ₹80 during the bidding phase, it rose to ₹95-₹100, indicating potential listing gains of 45-47%.
Important Dates
- Allotment Finalization: January 03, 2025
- Refund Initiation: By January 06, 2025
- Listing Date: January 07, 2025
- Listing Platform: NSE and BSE
Indo Farm Equipment is expected to command a market capitalization of ₹1,033.11 crore post-listing.
Steps to Check IPO Allotment Status
1. BSE Website
- Visit the BSE IPO Allotment Portal.
- Select Equity under “Issue Type.”
- Choose “Indo Farm Equipment Limited” in the drop-down menu.
- Enter your Application Number and PAN ID.
- Verify the CAPTCHA and click “Search.”
2. MAS Services Portal
- Navigate to MAS Services IPO Portal.
- Click on IPO Allotment Status on the left-hand menu.
- Select “Indo Farm Equipment Limited” once the allotment status is active.
- Enter the required details (Application Number, Beneficiary ID, or PAN ID).
- Submit and view the status.
Role of the Registrar
MAS Services Limited, the SEBI-registered registrar for this IPO, ensures a seamless allotment process. Its responsibilities include:
- Managing electronic credit of shares to successful applicants.
- Issuing refunds and addressing revocations for unsuccessful bids.
- Responding to investor queries and concerns.
Key Takeaways
- Indo Farm Equipment IPO has marked a strong debut as the first mainboard IPO of 2025.
- Backed by robust subscription figures, the IPO highlights growing investor interest in agricultural machinery manufacturers.
- With a strong GMP and export-oriented growth potential, Indo Farm Equipment is poised for an exciting listing on January 07, 2025.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors are advised to conduct their research or consult financial experts before making investment decisions.