Indo Farm IPO Listing Price: Indo Farm Equipment, a company manufacturing tractors and equipment used in farming, got listed in the Indian stock market today. However, what was expected regarding the listing price did not happen. The company’s shares were listed on BSE at a price of Rs 258.40 with a premium of about 20 percent. Similarly, the company’s shares were also listed on NSE at a price of Rs 256.00 with a premium of 19.07 percent. At the time of writing at 10.53 am on Tuesday, shares of Indo Farm were trading at Rs 282.75, up Rs 67.75 (31.51%) from their issue price on BSE.
IPO got 229.68 times subscription
This IPO, which opened on 31 December, closed on 2 January. This IPO received a total subscription of 229.68 times. Considering the huge subscription received for Indo Farm’s IPO, it was expected that the shares of the company would be listed in the market with a good premium, but this did not happen.
The company had fixed the price band of Rs 204 to 215.
Indo Farm had fixed the price band of Rs 204 to Rs 215 for each share under its IPO. The company has raised a total of Rs 260.15 crore from this IPO. For this, Indo Farm has issued a total of 1,21,00,000 shares. This includes 86,00,000 new shares worth Rs 184.90 crore and 35,00,000 shares worth Rs 75.25 crore issued through OFS.
There was chaos in the stock market on Monday
Let us tell you that on Monday there was chaos in the stock market due to many different reasons. Yesterday BSE Sensex fell 1258.12 points and closed at 77,964.99 points. Whereas, NSE Nifty 50 also closed at 23,616.05 with a big fall of 388.70 points. However, today on Tuesday the market opened in the green mark and till the time of writing this news it was still trading in the green mark.
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