Indo Farm Equipment IPO: The IPO of tractor manufacturing company Indo Farm Equipment is going to close today i.e. Tuesday, January 2. Today is the last day to subscribe to this IPO. This IPO opened on Tuesday, December 31. Indo Farm Equipment is going to raise Rs 260.15 crore from this IPO. For this, the company will issue a total of 1,21,00,000 shares. In this, 86,00,000 new shares worth Rs 184.90 crore and 35,00,000 shares worth Rs 75.25 crore will be issued through OFS.

People are investing money indiscriminately to invest in IPO

Indo Farm's IPO is getting huge support from investors. Today, on the third day, till 11.51 am, this IPO has been subscribed 96.15 times. Let us tell you that this IPO was fully subscribed shortly after opening. This IPO got 17.70 times subscription on the first day. While on the second day, the total subscription of this IPO increased to 54.44 times. It is expected that by the time the IPO closes, its total subscription will go well above 100 times.

The company will be listed in the stock market on January 7

Indo Farm Equipment has fixed a price band of Rs 204 to Rs 215 for each share under its IPO. After the IPO closes on January 2, the shares will be allotted on January 3. Investors who do not get shares will get a refund by January 6. Shares will be transferred to the investors' demat accounts on January 6 itself. After which Indo Farm Equipment will finally be listed on the Indian stock market on Tuesday, January 7.

What is the condition of shares in the gray market

Indo Farm Equipment's shares are getting a tremendous response in the gray market. The movement regarding its shares in the gray market has increased a lot. On Thursday, January 2, Indo Farm Equipment's shares are trading with a GSP price of Rs 90 (41.86 percent) in the gray market. Let us tell you that till December 30, its GMP was stable at Rs 80. However, from the opening of the IPO till the listing of the company in the stock market, its GMP can see a lot of fluctuations.