Indo Farm Equipment IPO: Share Allotment In Focus, GMP Hints Stellar Listing; How To Check Status Online?

The Indo Farm Equipment IPO has concluded with an overwhelming response from investors, setting the stage for the next step-share allotment. This IPO of the tractor manufacturing giant has captured market attention, not just for its subscription figures but also for its strong grey market performance.

Subscription Numbers

The Indo Farm Equipment IPO opened for bidding on December 31, 2024, and closed on January 2, 2025. The company offered shares within a price band of Rs 204 to Rs 215 per share, successfully raising Rs 260.15 crore at the upper end. This included a fresh issue of 86 lakh equity shares worth Rs 184.90 crore and an offer-for-sale of 35 lakh shares amounting to Rs 75.25 crore.

Investor enthusiasm was evident as the IPO was subscribed 229.68 times, receiving bids for 194.53 crore shares against the 84.70 lakh shares on offer. Among investor categories, the Non-Institutional Investors (NIIs) segment stole the show with a subscription rate of 503.39 times. Qualified Institutional Buyers (QIBs) followed with 242.40 times subscription, while the retail investors' portion saw an impressive 104.36 times subscription.

Anchor Investment

Before the IPO's public bidding phase, Indo Farm Equipment raised Rs 78 crore from anchor investors, allotting 36.30 lakh shares to 11 entities at the upper price band of Rs 215 per equity share.

Allotment & Listing

As investors await the Indo Farm Equipment IPO allotment, the company is expected to finalize the basis of the allotment today. Eligible investors will see the shares credited to their demat accounts on January 6, 2025, while refunds for unsuccessful bidders will also be processed the same day. The company's shares are set to debut on the stock exchanges on January 7, 2025.

How to Check Allotment Status

Investors can check the Indo Farm Equipment IPO allotment status online through the BSE, NSE, or the official portal of the IPO registrar, Mas Services.

BSE Website

Visit BSE's allotment status page.
Select 'Equity' under the Issue Type dropdown.
Choose 'Indo Farm Equipment Limited' in the Issue Name.
Enter your Application Number or PAN.
Verify by ticking the 'I am not a robot' box and click 'Search'.

Mas Services Portal

Go to Mas Services allotment page.
Select 'Indo Farm Equipment IPO'.
Enter your PAN details.
Click 'Search' to view your allotment status.

Grey Market Premium (GMP)

The Indo Farm Equipment IPO is making waves in the grey market as well. On January 3, 2025, the IPO's Grey Market Premium (GMP) stood at Rs 97 per share, indicating strong demand. Based on this GMP, the estimated listing price of the shares is pegged at Rs 312 apiece, reflecting a 45% premium over the issue price of Rs 215 per share.