The Initial Public Offer i.e. IPO of Indo Farm Equipment Limited will open on 31 December. Investors will be able to bid for this issue till 2 January. On 7 January, the company’s shares will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). Through this IPO, the company wants to raise a total of ? 260.15 crores. For this, the company is issuing 86,00,000 fresh shares worth ? 184.90 crores. At the same time, existing investors of Indo Farm Equipment are selling 35,00,000 shares worth ? 75.25 crores. If you are also planning to invest money in it, then we are telling you how much you can invest in it. How much minimum and maximum money can you invest? Indo Farm Equipment Limited has fixed the price band of IPO as ? 204 – ? 215. Retail investors can bid for a minimum of one lot i.e. 69 shares. If you apply for 1 lot as per the IPO’s upper price band of ? 215, then you will have to invest ? 14,835 for it. At the same time, retail investors can apply for a maximum of 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% is reserved for retail investors and the remaining 15% is reserved for non-institutional investors (NII). The company manufactures tractors, pick and carry cranes and harvesting equipment. Indo Farm Equipment Limited was established in 1994 and manufactures tractors, pick and carry cranes and harvesting equipment. The company runs its operations through two brand names Indo Farm and Indo Power. Products of Indo Farm Equipment are exported to Nepal, Syria, Sudan, Bangladesh, Myanmar and other countries. What is an 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 by issuing new shares. For this, the company brings IPO.
