Key things to know before debut on NSE and BSE

Indo Farm Equipment IPO listing date: Shares of Indo Farm Equipment Ltd are all prepared to debut on the National Stock Exchange (NSE) and the BSE (earlier called Bombay Stock Exchange) on Tuesday, January 7. The initial public offer got a very strong response from investors during the three-day bidding period. Indo Farm Equipment IPO allotment status was finalised on January 4.

Indo Farm Equipment IPO subscription

The ₹260.15 crore issue secured a final subscription of 229.68 times, receiving bids for 194.53 crore shares against 84.70 lakh shares reserved.

The non-institutional investors’ portion received a stellar 503.83 times subscription as they got bids for 91.44 crore equity shares compared to 18.15 lakh shares on offer.

The category for qualified institutional buyers (QIBs) mopped up 242.40 times subscription, as they placed bids for 58.65 crore shares against 24.20 lakh shares on offer.

The retail investors’ quota fetched 104.92 times the subscription, as they applied for 58.65 crore shares against 24.20 lakh shares on offer.

Indo Farm Equipment IPO objectives

The proceeds from the IPO will be used to increase capacity for the pick-and-carry crane business, invest in an NBFC subsidiary, repay debt, and for general corporate purposes.

The ₹260.15 crore initial share sale, with a price range of ₹204-₹215 a unit, consisted of new equity shares worth ₹184.90 crore and an offer-for-sale of 35 lakh shares. The IPO required a minimum investment of ₹14,835 for 69 shares.

The company manufactures pick & carry cranes, tractors and farm equipment.