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- By Aditya Pratap Singh
- Tue, 07 Jan 2025 10:09 AM (IST)
- Source:JND
Indo Farm share price: The Shares of Indo Farm Equipment made a decent debut on stock exchanges with a premium of 19 per cent over its IPO price on Tuesday. Indo Farm Equipment's share price was listed at Rs 256 per share on the NSE, an upside of 19.07 per cent as compared to its IPO price. While on BSE, the shares of Indo Farm Equipment debuted at Rs 258.40 per share, a premium of 20.19 per cent. The IPO was priced at Rs 204-215 per share.
Indo Farm Equipment Limited is a manufacturer of tractors, pick-and-carry cranes, and other farming-related equipment. With the listing of its shares, the market valuation of the company stood at Rs 1,230.12 crore.
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The listing of the farm equipment manufacturer's shares missed the grey market expectation a bit, as the shares were trading at a premium of around 35 per cent, meanwhile, the final listing premium is around 20 per cent.
The proceeds from the fresh issue will be used to set up new dedicated units to expand the company's pick and carry crane manufacturing capacity, repay loans, and invest in Barota Finance, an NBFC subsidiary of the company for future finance for the expansion of the capital base.
Indo Farm Equipment IPO Subscription Status
The IPO was subscribed a whopping 229.68 times against the total 84,70,000 issued shares. The quota reserved for retail individual investors received a stellar 104.92 times subscription while non-institutional investors quota 503,83 times bidding. Meanwhile, shares reserved for Qualified Institutional Buyers were subscribed 242.40 times.
