Indo Farm Equipment IPO: The IPO of Indo Farm Equipment, a maker of tractors, harvesting equipment and small cranes, will open on Tuesday, December 31 and close on Thursday, January 2. This is a mainboard IPO, which will be listed on both the major exchanges of the Indian stock market, BSE and NSE. Indo Farm Equipment wants to raise a total of Rs 260.15 crore through this IPO. For this the company will issue a total of 1,21,00,000 shares. In this, 86,00,000 new shares worth Rs 184.90 crore and 35,00,000 shares worth Rs 75.25 crore will be issued through OFS.
You will get 69 shares with a minimum investment of Rs 14,835.
Indo Farm Equipment has fixed the price band of Rs 204 to Rs 215 for each share under its IPO. Under this IPO, retail investors will be given 69 shares in one lot, for which they will have to invest at least Rs 14,835. Retail investors can apply for a maximum of 13 lots (897 shares), for which they will have to invest Rs 1,92,855.
The company will be listed in the stock market on January 7.
After the IPO closes on Thursday, January 2, the allotment of shares will be done on January 3. Investors who do not get shares will get refund by January 6. Shares will be transferred to the demat accounts of investors on January 6 itself. After which finally on Tuesday, January 7, Indo Farm Equipment will be listed in the Indian stock market.
Storm erupts in gray market even before IPO opens
Indo Farm Equipment shares are seeing tremendous rise in the gray market. The special thing is that the IPO of the company is not even open yet and a stir has started in the gray market regarding its shares. Shares of Indo Farm Equipment are trading with a GSP price of Rs 80 (37.21 per cent) in the gray market on Monday, December 30. However, from the opening of the IPO till the listing of the company in the stock market, there may be a lot of fluctuations in its GMP.
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