Last IPO of the year will give strong returns! If you are not sure, check the GMP.
New Delhi. The last IPO of the year 2024, Indo Farm Equipment IPO, will open tomorrow i.e. December 31. The good thing is that there are signs of earnings from the gray market with respect to the last public issue of the year. The unlisted shares of the issue are trading at a premium of Rs 80 (Indo Farm Equipment IPO GMP) in the gray market. Indo Farm Equipment IPO, a manufacturer of tractors, pick-and-carry cranes and other agricultural equipment, will open tomorrow. You can bid for shares of this IPO till January 2, 2025. The total size of the IPO is Rs 260 crore. Indo Farm Equipment’s IPO includes a fresh issue of 8.6 lakh equity shares and an offer for sale (OFS) of 3.5 lakh equity shares by promoter Ranbir Singh Khadwalia.
The Indo Farm Equipment IPO price band has been fixed at Rs 204 to Rs 215 per share. One lot of the IPO will have 69 shares. Thus, as per the upper issue price band of Rs 215, retail investors have to invest at least Rs 14,835 in this IPO. At the upper price band of the IPO, the company’s market cap will exceed Rs 1,000 crore.
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35 percent is reserved for retail investors.
50% of the Indo Farm Equipment IPO is earmarked for qualified institutional buyers (QIBs), 35% for retail investors (RIIs) and 15% for non-institutional investors (NIIs).
Indo Pharm Equipment IPO GMP
Indo Farm Equipment’s IPO is performing strongly in the gray market. Its GMP is running at Rs 80 on Monday 30 December. This means that the share can be listed at Rs 295 on the day of listing, which is 37.21% higher than the upper price band (Rs 215).
Where will the money be used?
Indo Farm Equipment will use the IPO proceeds to expand the company’s pick-and-carry crane manufacturing capacity, repay debt, set up a new dedicated unit and invest in the company’s subsidiary Barota Finance. Also, the funds will be used for future capital requirements.
(Disclaimer: Investing in IPOs is subject to market risks. If you wish to invest in any of them, consult a certified investment advisor first. News18 shall not be liable for any profit or loss you may incur. shall not be liable for damages.)
Tags: IPO, Money making tips, Stock market, Stock market
First Publication: December 30, 2024, 14:52 IST
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