Indo Farm Equipment IPO listing date today. GMP, experts signal up to 45% premium for allottees | Stock Market News

Indo Farm Equipment IPO Listing: Indo Farm Equipment shares are set to make their stock market debut today after receiving stellar demand for its initial public offering (IPO). Indo Farm Equipment IPO listing date is today, January 7 and the shares will be listed on both the stock exchanges, BSE and NSE.

Indo Farm Equipment IPO was open for subscription from December 31 to January 2. The public issue got subscribed by a massive 229.68 times.

“Trading Members of the Exchange are hereby informed that effective from Tuesday, January 7, 2025, the equity shares of INDO FARM EQUIPMENT LIMITED shall be listed and admitted to dealings on the Exchange in the list of ‘B’ Group of Securities,” a notice on BSE said.

Indo Farm Equipment shares will be a part of Special Pre-open Session (SPOS) on Tuesday, and will be available for trading from 10:00 AM.

Ahead of the Indo Farm Equipment share listing today, the trends in the grey market and experts signal a strong debut of shares.

Indo Farm Equipment IPO GMP Today

Indo Farm Equipment shares are showing a bullish trend in the unlisted market with a strong grey market premium (GMP). According to the stock market observers, Indo Farm Equipment IPO GMP today is ₹90 per share. This indicates that in the grey market, Indo Farm Equipment shares are trading higher by ₹90 than their issue price.

Indo Farm Equipment IPO Listing Price

Considering the Indo Farm Equipment IPO GMP today, the estimated listing price of Indo Farm Equipment shares would be ₹305 apiece, a premium of 42% to the issue price of ₹215 per share.

Analysts also expect Indo Farm Equipment IPO listing to be at a decent premium of around 40% – 45%,

“Despite the offer being slightly on the expensive side, Indo Farm Equipment received overwhelming response from sets of investors, making it the second highest subscribed IPO among the mainboard issues launched in 2024. We believe the massive demand was on the back of the main reason being that the company is spending IPO proceeds to strengthen its dealer network which can eventually lead to higher tractor sales in future. Considering renewed market sentiments and massive subscription demand, we expect the company can list with strong listing gains over and above ~40% on its issue price. We believe the expected listing gain is justified as investors believe healthy growth post expansion of pick and carry cranes capacities and strengthen its dealer network,” said Prashanth Tapse, Sr VP Research – Research Analyst at Mehta Equities Ltd.

He recommends conservative allotted investors can think of booking profits, while long term investors should consider to ‘HOLD IT FOR LONG TERM’ despite knowing short term volatility post listing and risk in the markets. For non-allotted investors, Tapse advises to accumulate Indo Farm Equipment shares if there are dips post-listing due to profit booking attempts.

Palak Devadiga, Research Analyst, StoxBox believes Indo Farm Equipment is set for an impressive stock market debut today with expectations of a 45% premium over its upper price band.

“While the issue is priced at a P/E ratio of 51.8x over its upper price band based on FY24 earnings, given its strong growth prospects and favorable industry trends, we recommend that investors who have been allotted shares consider holding their positions from a medium to long-term perspective,” said Devadiga.

Indo Farm Equipment IPO Details

Indo Farm Equipment IPO opened for subscription on Tuesday, December 31, and closed on Thursday, January 2. The IPO allotment was finalised on January 4 and the Indo Farm Equipment IPO listing date is today, January 7. Indo Farm Equipment shares will be listed on both the stock exchanges, BSE and NSE.

The company raised ₹260.15 crore from the book-built issue which was a combination of fresh issue of 86 lakh equity shares worth ₹184.90 crore and offer-for-sale of 35 lakh shares amounting to ₹75.25 crore. Indo Farm Equipment IPO price band has been set at ₹204 to ₹215 per share.

Before the IPO opened, the company had raised ₹78 crore from anchor investors by allotting 36.30 lakh shares to 11 entities at ₹215 per equity share.

Indo Farm Equipment IPO was subscribed by a whopping 229.68 times. The IPO received bids for 194.53 crore shares as against 84.70 lakh shares on offer. The retail investors portion was subscribed 104.36 times, while the Non-Institutional Investors (NIIs) segment was booked 503.39 times. The Qualified Institutional Buyers (QIBs) portion is subscribed 242.40 times.

Aryaman Financial Services is the book running lead manager of the Indo Farm Equipment IPO, while Mas Services is the IPO registrar.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.