Indo Farm Equipment shares had a steady debut on January 3, listing at ₹256 on NSE, 19% above the issue price of ₹215, and at ₹258.40 on BSE, marking a 20.19% premium from the IPO price.
Indo Farm Equipment Limited IPO dazzled investors with a massive 229.68x subscription by Day 3! QIBs surged to 242.40x, NIIs hit an impressive 503.83x, and RIIs reached 104.92x, underscoring an overwhelming wave of investor excitement and demand.
Also Read: Electric equipment stock jumps 4% after it receives order worth ₹1,062 Cr from PSU company
Indo Farm Equipment Limited, established in 1994, produces tractors and cranes in Himachal Pradesh. The company boasts an integrated ecosystem with R&D, in-house production, and a network of 140+ dealers, providing customized solutions and competitive delivery domestically and internationally.
Also Read: Financially strong stocks under ₹100 trading at discount of 32% to keep an eye on
Indo Farm Equipment Ltd IPO aims to expand crane manufacturing, repay borrowings, invest ₹45 crore in NBFC subsidiary Barota Finance, and fund general corporate purposes for growth, branding, and strategic initiatives.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.