ideaForge Technology Limited IPO Date, Review, Price, Form, Lot Size & Allotment Details 2023

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IdeaForge Technology Limited, a company founded in 2007, manufactures unmanned aircraft systems (UAS).

Unmanned aircraft vehicles for mapping, security, and surveillance are produced by the firm. These drones can be used for a variety of mapping and planning purposes in mining areas. UAVs from ideaForge improve operations in the real estate and construction industries. In addition, they support defence forces’ ISR (Intelligence, Surveillance, and Reconnaissance) operations near borders.

There are two main programmes on ideaForge, namely:

BlueFire Live! permits payload control from a distant command point and secure live streaming of the UAV video feed.
Ground Control Software (GCS) called BlueFire Touch is used for ground operations. It can pre-plan operations based on previous missions, and it is designed to plan and command both mapping and surveillance missions way point based navigation.

The anchor book will open on June 23 and end on June 29 for the ideaForge Technology IPO.

According to sources, the company hopes to generate $567 million via the IPO, which consists of a fresh issue of shares valued at 240 million dollars and an offer for sale (OFS) of 48.69 lakh equity shares by the company’s promoters and investors valued at 327 million dollars.

In a pre-IPO transaction, the company raised about 60 crore rupees. As a result, the size of the new issue was decreased from 300 crore to 240 crore.

Creating a stir in the unlisted market, the NSE IPO demonstrates investor interest in the subject.

Promoters Amarpreet Singh, Ashish Bhat, and Nambirajan Seshadri will participate in the OFS, and additional selling shareholders include A&E Investment LLC,

On July 4, the corporation will set the basis for allocation, and on July 5, the reimbursement process will begin. On July 7, shares of ideaForge Technology are most likely to list on the BSE and NSE.

The business plans to use the net proceeds from the new issue for debt repayment, working capital needs, product development investments, and other general corporate reasons.

JM Financial and IIFL Securities are the ideaForge Technology IPO’s book-running lead managers. Link Intime India is the IPO registrar.

Unmanned Aircraft Systems (UAS) for mapping, security, and surveillance are produced by ideaForge Technology. These drones help the armed services perform intelligence, surveillance, and reconnaissance (ISR) missions along borders in addition to being employed in construction and real estate operations.

With a market share of almost 50% in fiscal 2022, the business is a market leader in the Indian unmanned aircraft systems (“UAS”) sector. India’s largest indigenous UAV deployment is there, with an ideaForge-made drone typically taking off for mapping and surveillance every five minutes.

According to a survey released by Drone Industry Insights in December 2022, the business has been placed 7th globally among producers of drones with dual purposes (civil and defence).

ideaForge Technology IPO Details

IPO DateJun 26, 2023 to Jun 29, 2023
Listing Date[.]
Face Value₹10 per share
Price₹638 to ₹672 per share
Lot Size22 Shares
Total Issue Size[.] shares
(aggregating up to ₹567.00 Cr)
Fresh Issue[.] shares
(aggregating up to ₹240.00 Cr)
Offer for Sale4,869,712 shares of ₹10
(aggregating up to ₹[.] Cr)
Employee DiscountRs 32 per share
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Share holding pre issue38,098,559

ideaForge Technology IPO Reservation

QIB Shares OfferedNot less than 75.00% of the Net offer
NII (HNI) Shares OfferedNot more than 15.00% of the Offer
Retail Shares OfferedNot more than 10.00% of the Offer

ideaForge Technology IPO Timetable (Tentative)

ideaForge Technology IPO opens on Jun 26, 2023, and closes on Jun 29, 2023.

EventTentative Date
Opening DateMonday, 26 June 2023
Closing DateThursday, 29 June 2023
Basis of AllotmentTuesday, 4 July 2023
Initiation of RefundsWednesday, 5 July 2023
Credit of Shares to DematThursday, 6 July 2023
Listing DateFriday, 7 July 2023
Cut-off time for UPI mandate confirmation5 PM on Jun 29, 2023

ideaForge Technology IPO Lot Size

The ideaForge Technology IPO lot size is 22 shares.

ApplicationLotsSharesAmount
Retail (Min)122₹14,784
Retail (Max)13286₹192,192
S-HNI (Min)14308₹206,976
S-HNI (Max)671,474₹990,528
B-HNI (Min)681,496₹1,005,312
Lot Size Calculator

ideaForge Technology IPO Promoter Holding

The promoters of the company are Mr. Ankit Mehta, Mr. Rahul Singh, and Mr. Ashish Bhat.

Pre Issue Share Holding60.65%
Post Issue Share Holding

Company Financials

Period EndedTotal AssetsTotal RevenueProfit After TaxNet WorthReserves and SurplusTotal Borrowing
31-Mar-2079.7916.32-13.4568.1268.055.30
31-Mar-21123.7436.34-14.6359.6359.6350.57
31-Mar-22222.33161.4544.01163.30110.285.68
31-Mar-23487.93196.4031.99324.7286.50
Amount in ₹ Crore

Objects of the issue

towards the funding of the following objects:

  1. Repayment/prepayment of certain indebtedness availed by the company;
  2. Funding working capital requirements,
  3. Investment in product development, and
  4. General corporate purposes.

ideaForge Technology IPO Prospectus

  •   ›  ideaForge Technology IPO DRHP
  •   ›  ideaForge Technology IPO RHP

ideaForge Technology IPO Rating

20

4.2

Rating .

Company Contact Information

ideaForge Technology Limited
EL-146 TTC Industrial Area,
Electronic Zone, MIDC Mahape,
Navi Mumbai – 400 710
Phone: +91 84476 12778
Email: business@ideaforgetech.com
Websitehttps://ideaforgetech.com/

ideaForge Technology IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: ideaforgetechnology.ipo@linkintime.co.in
Websitehttps://linkintime.co.in/

ideaForge Technology IPO Analysis

ideaForge Technology IPO Recommendation Summary

Review BySubscribeNeutralAvoid
Brokers000
Members900

ideaForge Technology IPO Lead Manager(s)

  1. Jm Financial Limited (Past IPO Performance)
  2. Iifl Securities Ltd (Past IPO Performance)

Lead Manager Reports

  • IPO Lead Manager Performance Summary
  • IPO Lead Manager Performance Tracker

ideaForge Technology IPO Review Summary

Review BySubscribeNeutralAvoid
Brokers000
Members900

ideaForge Technology IPO Details

IPO OpenJun 26, 2023
IPO CloseJun 29, 2023
IPO Price₹638 – ₹672
Face Value₹10
IPO Size₹567.00 Cr
Listing AtBSE, NSE
Lot Size22

ideaForge Technology IPO Gmp today -450

gmp today -450

ideaForge Technology IPO Analysis

ReviewerRecommendationPast Performance
Axis CapitalNot Rated

ideaForge Technology IPO Peer Comparison

ideaForge Technology Limited peer comparison with similar listed entities. (Consolidated) (As on March 31, 2023)

Company NameEPS (Rs)NAV (per share) (Rs)P/E (x)RoNW (%)
EPS BasicEPS Diluted
ideaForge Technology Limited13.8413.131,633.0326.95
MTAR Technologies Limited19.7919.795,197.3982.7311.71
Data Patterns India Limited19.4819.485,745.1066.3216.36
Astra Microwave Products4.374.375,855.8859.0267.61

ideaForge Technology IPO Schedule

ideaForge Technology IPO opens on Jun 26, 2023, and closes on Jun 29, 2023.

EventDate
Opening DateJun 26, 2023
Closing DateJun 29, 2023
Basis of AllotmentJul 4, 2023
Initiation of RefundsJul 5, 2023
Credit of Shares to DematJul 6, 2023
Listing DateJul 7, 2023

latest News:

ideaForge Technology sets IPO price band at Rs 638-672 per share: Check launch date and other key details

The largest drone maker in India, ideaForge Technology Ltd, is prepared to make an impact in the financial markets with its initial public offering (IPO), which will begin on June 26. Investors have expressed a great deal of interest in the company’s initial public offering (IPO), with the price range for shares set between Rs 638 and Rs 672.

The offering, which combines a fresh issue of equity shares worth Rs 240 crore and an offer for sale of equity shares worth Rs 327 crore, is intended to raise Rs 567 crore for ideaForge Technology. On June 23, there will be an allocation round for anchor investors prior to the start of the public subscription.

The IPO’s subscription period for retail individual investors (RIIs) is due to begin.

The IPO’s revenues will be used to pay down debt, increase working capital, create new products, and further business objectives. Such finances will be essential as the business expands in order to maintain the momentum of their innovation and expansion.

IdeaForge has demonstrated sound financial standing after raising over Rs 60 crore from institutional investors in a pre-IPO transaction. The size of the new offer was therefore decreased from the originally anticipated Rs. 300 crore to Rs. 240 crore. The money raised in the pre-IPO round will be put to use for basic business needs and expansion plans.

The ideaForge IPO includes a reservation of shares for employees worth Rs 2 crore, highlighting the company’s dedication to its staff and its goal of inclusive growth. Workers will have the best price .

FAQ

When ideaForge Technology IPO will open?

The ideaForge Technology IPO opens on Jun 26, 2023 and closes on Jun 29, 2023

What is the lot size of ideaForge Technology IPO?

ideaForge Technology IPO lot size is 22 Shares and the minimum order quantity is .

When is ideaForge Technology IPO listing date?

The ideaForge Technology IPO listing date is not yet announced. The tentative date of ideaForge Technology IPO listing is Friday, 7 July 2023


When is ideaForge Technology IPO allotment?

The finalization of Basis of Allotment for ideaForge Technology IPO will be done on Tuesday, 4 July 2023, and the allotted shares will be credited to your demat account by Thursday, 6 July 2023. 

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