Indo Farm Equipment IPO: The IPO of tractor manufacturing company Indo Farm Equipment is going to close today i.e. on Tuesday, January 2. Today is the last day to subscribe to this IPO. This IPO was opened on Tuesday, 31 December. Indo Farm Equipment is going to raise Rs 260.15 crore from 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.
People are investing money indiscriminately to invest in IPO
Indo Farm’s IPO is getting overwhelming support from investors. Today, till 11.51 am on the third day, this IPO has been subscribed 96.15 times. Let us tell you that this IPO was completely subscribed shortly after its opening. This IPO received 17.70 times subscription on the first day. Whereas on the second day the total subscription of this IPO increased to 54.44 times. It is expected that by the time the IPO closes, its total subscription will go well above 100 times.
The company will be listed in the stock market on January 7.
Indo Farm Equipment has fixed the price band of Rs 204 to Rs 215 for each share under its IPO. After the IPO closes on January 2, 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.
What is the condition of shares in gray market?
Indo Farm Equipment shares are getting tremendous response in the gray market. The movement regarding its shares has intensified in the gray market. Indo Farm Equipment shares are trading with a GSP price of Rs 90 (41.86 per cent) in the gray market on Thursday, January 2. Let us tell you that till December 30, its GMP was standing at Rs 80. 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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