Indo Farm Lists With 20% Premium

New Delhi: Shares of Indo Farm Equipment Ltd on Tuesday listed with a premium of over 20 per cent against the issue price of Rs215. The stock started the trade at Rs258.40, reflecting a premium of 20.18 per cent on the BSE. It further jumped 33.44 per cent to Rs286.90. At the NSE, it listed at Rs256, up 19 per cent.

The company’s market valuation stood at Rs1,355.30 crore. The initial public offer of Indo Farm Equipment garnered a whopping 227.57 times subscription on the closing day of bidding on Thursday. The Rs260-crore initial share sale had a price band of Rs204-215 per share. The IPO had a fresh issue of 86 lakh equity shares and an Offer-for-Sale (OFS) of 35 lakh shares by promoter Ranbir Singh Khadwalia.