How it has done since the IPO
Closing prices since listing: 26 Oct ₹115.83, 27 Oct ₹117.09, 28 Oct ₹119.39, 29 Oct ₹120.31, 30 Oct ₹115.52, 2 Nov ₹118.37, 3 Nov ₹117.18, 4 Nov ₹123.26, 5 Nov ₹124.34, 6 Nov ₹123.66.
| Listing day | 7 Jan 2025 |
| Open / high / low / close | ₹256.00 / ₹287.00 / ₹256.00 / ₹273.69 |
| Shares traded on NSE | 2,42,72,789 |
| Market value at the listing-day close | ₹1,315 cr |
Indo Farm Equipment share price, live chart and technicals →
The IPO's journey
Anchor30 Dec
Opens31 Dec
Closes2 Jan
Allotment3 Jan
In demat6 Jan
Listing7 Jan
Lock-in 50%1 Feb
Lock-in rest2 Apr
Subscription
Institutions (QIB)242.40×
HNI / NII503.83×
HNI, above ₹10 lakh548.13×
HNI, ₹2–10 lakh415.21×
Retail104.92×
Total229.68×
Shares offered and bid, by group
| Investor category | Shares offered | Shares bid for | Times subscribed |
|---|
| Institutions (QIB) | 24,20,000 | 58,65,97,014 | 242.40× |
| HNI / NII | 18,15,000 | 91,44,44,304 | 503.83× |
| HNI, above ₹10 lakh | 12,10,000 | 66,32,41,938 | 548.13× |
| HNI, ₹2–10 lakh | 6,05,000 | 25,12,02,366 | 415.21× |
| Retail | 42,35,000 | 44,43,48,201 | 104.92× |
| Total | 84,70,000 | 1,94,53,89,519 | 229.68× |
Bars on a log scale so small and very large numbers both fit. NSE and BSE bids together, as of 2 Jan 2025 19:00.
Chance of getting shares (retail)
At least 1 in 105retail applicants got one lot (61,376 lots for a retail portion subscribed 104.92×). Bidding for more lots does not raise the chance.
Who the issue was set aside for
Institutions 28.57%HNI / NII 21.43%Retail 50.00%
Bids by price
Top price ₹215 79.66%Cut-off 20.24%Lower prices 0.1%
An estimate from the times the retail portion was subscribed, as if every applicant bid for the minimum; many bid for more lots, so the real chance is usually better. Winners are picked by lottery.
Issue reservation
| Investor group | Shares | % of issue | Most applicants allotted |
|---|
| Institutions (QIB) | 24,20,000 | 28.57% | – |
| HNI / NII | 18,15,000 | 21.43% | – |
| HNI, above ₹10 lakh | 12,10,000 | 14.29% | 257 |
| HNI, ₹2–10 lakh | 6,05,000 | 7.14% | 626 |
| Retail | 42,35,000 | 50.00% | 61,376 |
Shares NSE lists as offered to each group, plus the anchor portion. "Most applicants allotted" is how many people can get the minimum application in that group when it is oversubscribed.
Lot size by investor type
| Application | Lots | Shares | Amount |
|---|
| Retail (minimum) | 1 | 69 | ₹14,835 |
| Retail (maximum) | 13 | 897 | ₹1,92,855 |
| Small HNI (minimum) | 14 | 966 | ₹2,07,690 |
| Small HNI (maximum) | 67 | 4,623 | ₹9,93,945 |
| Big HNI (minimum) | 68 | 4,692 | ₹10,08,780 |
At ₹215 a share. Retail bids go up to ₹2 lakh, small HNI from ₹2 lakh to ₹10 lakh, big HNI above ₹10 lakh.
Anchor investors
| Anchor bid date | 30 Dec 2024 |
| Lock-in ends for the first 50% (30 days) | 1 Feb 2025 |
| Lock-in ends for the remaining 50% (90 days) | 2 Apr 2025 |
Anchor investors are large funds that buy the day before the IPO opens. SEBI locks in half their shares for 30 days from the allotment and the rest for 90 days; they can sell from the next trading day. Traders watch these dates because extra selling can come in.
Financials and valuation
| At issue price | Now |
|---|
| Market value | ₹1,033 cr | ₹588 cr |
| P/E (last 12 months' profit) | 41.5 | 23.6 |
| Revenue, last 12 months | ₹454 cr |
| Profit, last 12 months | ₹25 cr |
| Return on equity | 4.5% |
| Debt to equity | 0.27 |
From results the company filed with NSE (latest period to 30 Jun 2026). Twelve-month figures need four quarters of results, so they fill in over the first year after listing.
Other recent IPOs: Construction Vehicles
| Company | Listed | Subscribed | On listing | Since IPO |
|---|
| Ajax Engineering | 17 Feb | 6.45× | -8.43% | -11.50% |