Indo Farm Equipment IPO: The IPO of Indo Farm Equipment, a company manufacturing tractors and farming equipment, opened today i.e. on Tuesday, 31 December. This IPO will close on Thursday, January 2. Indo Farm Equipment will 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.
Retail investors will have to make a minimum investment of Rs 14,835.
This is a mainboard IPO, which will be listed on both the major stock market exchanges BSE and NSE. Indo Farm Equipment has fixed the price band of Rs 204 to Rs 215 for each share under its IPO. In 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.
When will the company be listed in the stock market?
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.
What is the condition of shares in gray market?
Indo Farm Equipment shares are getting good response in the gray market. A stir has started regarding its shares in the gray market. Shares of Indo Farm Equipment are trading with a GSP price of Rs 80 (37.21 per cent) in the gray market on Tuesday, December 31. Let us tell you that since December 29, its GMP has remained at Rs 80 only. 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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