Indo Farm Equipment IPO: The initial public offering (IPO) of Indo Farm Equipment Limited opened on 31 December 2024 and will remain open for bidders until 2 January 2025. This means investors have just one day to apply for the public issue, launched on Tuesday this week at a price band of ₹204 to ₹215. According to Indo Farm Equipment IPO subscription status, the public issue worth ₹260.15 crore received a strong response from investors in the first two days of bidding. Meanwhile, the grey market also signals positive sentiments regarding Indo Farm Equipment IPO. According to stock market observers, Indo Farm Equipment shares are available at a premium of ₹96 in the grey market today.
As mentioned, Indo Farm Equipment IPO GMP (Grey Market Premium) today is ₹96, ₹11 higher than the GMP of ₹85 on day one of bidding. Market observers said the rise in grey market sentiments can be attributed to improved Dalal Street sentiments and strong Indo Farm Equipment IPO subscription status. They told the grey market may go bullish if the Nifty 50 closes above 23,850 on Thursday.
By 3:03 PM on day 3 of bidding, the public issue had been subscribed 199.43 times, the retail portion of the public issue had been booked 91.91 times, the NII segment had been filled 470.23 times, and the QIB segment had received applications for 184.48 times the shares offered by the company.
Giving a 'subscribe' tag to the public issue, Reliance Securities says, “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 shortly, IFEL should be able to grow along with the sector, its capacity additions in the cranes segment would aid strong growth and refinancing its 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, and strong promoter pedigree augur for multifold growth in the coming years. Hence, we recommend a SUBSCRIBE to the issue.”
Giving a 'subscribe' for the long term, Anand Rathi said, "We believe that the Indo Farm with traditional business value, experienced promoters, well-planned capacity expansion, debt repayment, and strengthening of the financial arm are expected to capitalise over the long run. Hence, considering all parameters, we recommend the issue be considered a SUBSCRIBE for LONG TERM."
Additionally, StoxBox, BP Equities, Canara Bank Securities, INDSEC Securities, SBI Capital Securities, and Ventura Securities have also assigned a 'subscribe' tag to the book build issue.
Indo Farm Equipment IPO allotment is likely to take place on 3 January 2025, with Indo Farm Equipment IPO listing date expected to be 7 January 2025.
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 taking any investment decisions.
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