Indo Farm Equipment IPO Soars with Massive Subscription

The initial public offering (IPO) of Indo Farm Equipment Ltd received impressive interest, being oversubscribed 54.50 times by its second bidding day. With contributions from various investor categories, the IPO aims to bolster the company's manufacturing capacity and support its NBFC subsidiary, with shares listing on BSE and NSE.

The initial public offering (IPO) of Indo Farm Equipment Ltd saw a massive surge in interest, achieving 54.50 times subscription by the close of the second bidding day as reported on Wednesday.

NSE data revealed that the offer received bids totaling 46,16,50,572 shares compared to the 84,70,000 on offer. Non-Institutional Investors demonstrated the highest interest at 131.78 times subscription, while Retail Individual Investors subscribed 45.70 times. Qualified Institutional Buyers were also keen, with an 11.96 times subscription rate.

Having secured over Rs 78 crore from anchor investors, Indo Farm Equipment is on track to close its Rs 260-crore IPO. The fund raised aims to expand manufacturing capacities, offset debts, and bolster its NBFC subsidiary, with Aryaman Financial Services managing the listing on BSE and NSE.

(With inputs from agencies.)