Indo Farm Equipment IPO GMP: Stock market watchers report that shares of Indo Farm Equipment Limited are currently trading on the gray market for a premium of ₹82.
IPO of Indo Farm Equipment: Indo Farm Equipment Limited's initial public offering (IPO) debuted on the Indian primary market today. The Indo Farm Equipment initial public offering (IPO) will go live at 10:00 AM today and run until 5:00 PM on January 2, 2025. An IPO price range of ₹204 to ₹215 per share has been announced by the business for Indo Farm Equipment. Through a combination of new shares and offers for sale (OFS), the tractor manufacturer hopes to raise ₹260.15 crore.Positive indications about the opening date of the Indo Farm Equipment IPO are being indicated by the grey market in the meanwhile. Observers of the stock market claim that shares of Indo Farm Equipment Limited are currently trading on the gray market for a premium of ₹82.
Status of Indo Farm Equipment's IPO subscriptions
The public issue had been subscribed 10.83 times by 2:27 PM on the first day of bidding; the retail portion had been booked 14.13 times, while the NII sector had been filled 16.11 times.
1] Details of the Indo Farm Equipment IPO Indo Farm Equipment IPO GMP: Stock market watchers report that shares of Indo Farm Equipment Limited are currently trading on the gray market for a premium of ₹82.
2] Indo Farm Equipment IPO price: The tractor manufacturer has set the ₹204 to ₹215 price range for the public offering.
3] Date of Indo Farm Equipment IPO: Today marks the start of the public offering, which will run through January 2, 2025.
4. The size of the Indo Farm Equipment initial public offering (IPO) is ₹260.15 crore, of which ₹184.90 crore is anticipated to come from the issuance of new shares.
5] Lot size for Indo Farm Equipment IPO: Bidders may submit multiple applications, and each lot of the book build offering includes 69 company shares.
6] Indo Farm Equipment IPO allotment date: January 3, 2025, is the most likely date for share allocation to be finalized.
7] Mas Services Limited has been designated as the official registrar of the book build issue for Indo Farm Equipment IPO.
8] Indo Farm Equipment IPO Lead Manager: The public offering's lead manager is Aryaman Financial Services Limited.
9] Date of Indo Farm Equipment IPO listing: The BSE and NSE are proposing to list the public issue, and January 7, 2024, is the most likely date for share listing.
6] Indo Farm Equipment IPO allotment date: January 3, 2025, is the most likely date for share allocation to be finalized.
7] Mas Services Limited has been designated as the official registrar of the book build issue for Indo Farm Equipment IPO.
8] Indo Farm Equipment IPO Lead Manager: The public offering's lead manager is Aryaman Financial Services Limited.
9] Date of Indo Farm Equipment IPO listing: The BSE and NSE are proposing to list the public issue, and January 7, 2024, is the most likely date for share listing.
Is the Indo Farm Equipment IPO beneficial to investors?
10] Review of Indo Farm Equipment's IPO: Palak Devadiga, Research Analyst at StoxBox, offered the following advice regarding whether or not to apply for the book build issue: "The issue is priced at a P/E ratio of 51.8x on the upper price band, based on FY24 earnings, which is relatively high compared to its peers." However, we suggest giving the issue a "SUBSCRIBE" grade in light of the company's increasing sales, growth-oriented investment in its NBFC, and positive industry prospects.
"On the financial performance front, for the last three fiscal years, the company has reported a total income/net profit of Rs. 352.52 crore / Rs. 13.72 crore (FY22), Rs. 371.82 crore / Rs. 15.37 crore (FY23), and Rs. 375.95 crore / Rs. 15.60 crore (FY24) on a consolidated basis," the Bajaj Broking report stated, urging the primary market investors to apply for the long term. It made a net profit of Rs. 2.45 crore on a total revenue of Rs. 75.54 crore in the first quarter of FY25, which ended on June 30, 2024.
"If we annualize FY25 earnings based on its post-IPO fully diluted paid-up equity capital, the asking price reflects a P/E of 105.39," the brokerage says, indicating that the book-build issue is aggressively priced. P/E is 66.15 based on FY24 profits.
10] Review of Indo Farm Equipment's IPO: Palak Devadiga, Research Analyst at StoxBox, offered the following advice regarding whether or not to apply for the book build issue: "The issue is priced at a P/E ratio of 51.8x on the upper price band, based on FY24 earnings, which is relatively high compared to its peers." However, we suggest giving the issue a "SUBSCRIBE" grade in light of the company's increasing sales, growth-oriented investment in its NBFC, and positive industry prospects.
"On the financial performance front, for the last three fiscal years, the company has reported a total income/net profit of Rs. 352.52 crore / Rs. 13.72 crore (FY22), Rs. 371.82 crore / Rs. 15.37 crore (FY23), and Rs. 375.95 crore / Rs. 15.60 crore (FY24) on a consolidated basis," the Bajaj Broking report stated, urging the primary market investors to apply for the long term. It made a net profit of Rs. 2.45 crore on a total revenue of Rs. 75.54 crore in the first quarter of FY25, which ended on June 30, 2024.
"If we annualize FY25 earnings based on its post-IPO fully diluted paid-up equity capital, the asking price reflects a P/E of 105.39," the brokerage says, indicating that the book-build issue is aggressively priced. P/E is 66.15 based on FY24 profits.
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