Indo Farm Equipment IPO opens December 31 with price range of ₹204 to ₹215

Indo Farm Equipment will open its IPO for subscription on December 31, with a price range of ₹204 to ₹215 per share. The company aims to raise funds for expanding production capacity, repaying loans, and investing in its subsidiary. The IPO includes a new issue of 8.6 million shares and an offer for sale of 3.5 million shares from a promoter. The lot size is set at 69 shares, and the shares are expected to list on January 7. The grey market premium for the IPO is currently ₹90, suggesting strong demand. The allocation of shares will be determined on January 3, with refunds processed on January 6.