Indo Farms Equipment IPO GMP Highlights: The IPO was open for bidding from December 31 to January 2, with price band set between Rs 204 to Rs 215 per share. Non-institutional investors (NIIs) oversubscribed their portion 501.65 times, while qualified institutional buyers (QIBs) subscribed 242.40 times. Retail investors also garnered a subscription rate of 101.64 times. By the final day of the bidding, the IPO achieved an overall subscription of 227.57 times, according to data from the NSE.
Indo Farm Equipment is set to list on the stock market today, January 7. The allotment of shares for the IPO was completed on January 3.
Indo Farms Equipment IPO GMP Today Highlights: Check share price, GMP, listing price
Indo Farms Equipment IPO Listing Live Updates: Master Capital Services' post-listing view
"Long-term investors should think about holding for the long run even though they are aware of the markets' risk and short-term volatility after listing," said Vishnu Kant Upadhyay, Assistant Vice President of Research and Advisory at Master Capital Services. Indo farm equipment shares, the first listing of 2025, debut at a 20% premium to their IPO price on January 7.
Indo Farms Equipment IPO Listing Live Updates: Closes first day 7.6% higher
The stock of Indo Farm Equipment closed the listing day in the green. The stock closed the first trading session 7.6% higher at Rs 275.49. It was listed at a premium of 19% on the National Stock Exchange.
Indo Farms Equipment IPO Listing Live Updates: Post listing view on IPO
“Despite overwhelming response, Indo Farm Equipment listing was below our expectations, we believe the listing was lower considering the market mood after panic Monday. Considering renewed market sentiments, we recommend conservative allotted investors can think of booking profits above our expectations. While long term investors should consider to HOLD IT FOR LONG TERM despite knowing short term volatility post listing & risk in the markets. For non-allotted investors, we advise to accumulate if we get dips post listing due to profit booking attempts,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.
Indo Farms Equipment IPO Listing Live Updates: Reliance Securities on IPO
"IFEL is in a fairly strong position in both the segments it operates in and with the possibility of the market expanding substantially in both the segments in the near future, IFEL should be able to grow along with the sector, its capacity additions in the cranes segment would aid strong growth and refinancing its own tractors through its subsidiary will improve the tractor units growth and margin expansion for the overall business. IFEL has a fully integrated manufacturing plant with 40-60% of products being made in house and its strong R&D product development capabilities of designing new developments, strong entry barriers with attractive industry dynamics, strong promoter pedigree augurs for multifold growth in the coming years. Hence, we recommend a SUBSCRIBE to the issue," added Reliance Securities in an IPO note.
Indo Farms Equipment IPO Listing Live Updates: Stock performance
Indo Farms Equipment IPO Listing Live Updates: Bajaj Broking on IPO
"According to management, the industry historically generates 30-35% of annual revenue in the first half and the remainder in the second half. Therefore, annualized earnings based on Q1 figures may not accurately reflect the company's financial performance. The company is expected to benefit from expanded capacities for Pick and Carry cranes and support from their proposed financial arm, which will boost tractor sales, resulting in higher turnover and profits going forward," added Bajaj Broking in an IPO note.
Indo Farms Equipment IPO Listing Live Updates: Objectives of the issue
The Indo Farm Equipment IPO raised funds for several key objectives. These included expanding their Pick & Carry Cranes manufacturing capacity by setting up a new dedicated unit, repaying or pre-paying a portion of the company’s borrowings, further investing in their NBFC subsidiary, Barota Finance Ltd., to strengthen its capital base, and meeting general corporate requirements.
Indo Farms Equipment IPO Listing Live Updates: Lead managers and registrars
The IPO was managed by Aryaman Financial Services, serving as the sole book-running lead manager, while Mas Services acted as the registrar for the issue.
Indo Farms Equipment IPO Listing Live Updates: Subscription numbers
The Indo Farm Equipment IPO received an overwhelming response on the final day of subscription. Overall, it was subscribed 227.67 times, with retail investors subscribing 101.79 times, qualified institutional buyers (QIBs) 242.4 times, and non-institutional investors (NIIs) leading with a subscription of 501.75 times.
Indo Farms Equipment IPO Listing Live Updates: GMP update
Ahead of the official listing on the Indian bourses, the company's shares are trading at a premium of Rs 76 in the grey market, indicating an estimated listing price of Rs 291 per share, which is 35.35% higher than the issue's upper price band of Rs 215 per share.
Indo Farms Equipment IPO Listing Live Updates: Financial highlights
Indo Farm Equipment reported a 1% growth in revenue and a 1% rise in profit after tax (PAT) when comparing the financial year ending March 31, 2024, to the previous year.
Indo Farms Equipment IPO Listing Live Updates: About the company
Indo Farm Equipment Limited, established in 1994, specialises in producing tractors, pick-and-carry cranes, and other harvesting machinery. The company operates under two brands, Indo Farm and Indo Power, and exports its products to several countries, including Nepal, Syria, Sudan, Bangladesh, and Myanmar.