Indo Farm Equipment is scheduled to finalize the basis of allotment of its shares most likely on Friday, January 03, 2025. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate either over the weekend or latest by Monday, January 06. The first mainboard IPO closing in 2025 saw a bumper response from the investors.
The IPO of Indo Farm Equipment was open for bidding between December 31, 2024 and January 02, 2025. It offered its shares in the price band of Rs 204-215 per share with a lot size of 69 shares. The company raised a total of Rs 260.15 crore from its IPO, which includes a fresh share sale of 86 lakh worth Rs 184.90 crore and an offer-for-sale (OFS) of up to 35 lakh equity shares.
The issue was overall subscribed a solid 229.68 times, fetching bids for close to Rs 42,000 crore with more than 54.16 lakh applications. The portion for qualified institutional bidders (QIBs) was booked 242.40 times, while the quota for non-institutional investors (NIIs) was subscribed a stellar 503.83 times. The allocations retail investors were subscribed 104.92 times.
Incorporated in 1994, Chandigarh-based Indo Farm Equipment is engaged in manufacturing tractors, pick & carry cranes, and other harvesting equipment. It operates two brands: Indo Farm and Indo Power. They export their products to countries like Nepal, Syria, Sudan, Bangladesh, Myanmar and more.
The grey market premium of Indo Farm Equipment has surged higher after a strong response for the investors. Last heard, the company was commanding a premium (GMP) of Rs 95-100 per share in the unofficial market, suggesting a listing pop of about 45-47 per cent for the investors. The GMP stood at Rs 80 on the first day of the bidding.
Aryaman Financial Services is the book running lead manager of the Indo Farm Equipment IPO, while MAS Services is the registrar for the issue. The company shall command a total market capitalization of 1,033.11 crore. Shares of the company shall be listed at the bourses on both NSE and BSE on January 7, 2025, Tuesday.
Investors, who had bid for the issue of Indo Farm Equipment, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Indo Farm Equipment Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit search button
Investors can also check the allotment status on the online portal of Mas Services Limited (https://www.masserv.com), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.
1) Go to the web portal of MAS Services Private Limited
2) Click on the IPO Allotment Status on the left side
3) Click on the Indo Farm Equipment Limited allotment status, if active.
4) Fill the necessary details and hit ok to check the allotment status
Note: The registrar has mentioned that the allotment status shall be available on Saturday, January 04, 2025.