Mumbai3 days ago
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The IPO of Indo Farm Equipment Limited will open this week, on December 31. Investors will be able to bid for this issue till January 2. On January 7, the company’s shares will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
The company wants to raise a total of ₹ 260.15 crore through this IPO. For this, the company is issuing 86,00,000 fresh shares worth ₹184.90 crore. At the same time, existing investors of Indo Farm Equipment are selling 35,00,000 shares worth ₹75.25 crore.
If you are also planning to invest money in it, then we are telling you how much you can invest in it.
What is the minimum and maximum amount that can be invested?
Indo Farm Equipment Limited has fixed the IPO price band at ₹204 -₹215. Retail investors can bid for a minimum of one lot i.e. 69 shares. If you apply for 1 lot at the upper price band of IPO of ₹ 215, then you will have to invest ₹ 14,835.
At the same time, retail investors can apply for maximum 13 lots i.e. 897 shares. For this, investors will have to invest ₹ 1,92,855 as per the upper price band.
35% of the issue reserved for retail investors
The company has reserved 50% of the issue for Qualified Institutional Buyers (QIB). Apart from this, 35% share is reserved for retail investors and the remaining 15% share is reserved for non-institutional investors (NII).
The company manufactures tractors, pick and carry cranes and harvesting equipment.
Indo Farm Equipment Limited, established in 1994, manufactures tractors, pick and carry cranes and harvesting equipment. The company runs its operations through two brand names, Indo Farm and Indo Power. Indo Farm Equipment products are exported to Nepal, Syria, Sudan, Bangladesh, Myanmar and other countries.
What is IPO? When a company issues its shares to the general public for the first time, it is called Initial Public Offering i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking loan from the market, the company raises money by selling some shares to the public or issuing new shares. For this the company brings IPO.