ideaForge Technology IPO: ideaForge Technology IPO is gearing up for its listing on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) in the near future. The initial public offering (IPO) is scheduled to open on 26 June. According to market observers, the anticipated listing is expected to be either negative or neutral, indicating limited fluctuations. In the grey market, where unofficial trading takes place before the listing, the premium for IdeaForge shares is predicted to be around ₹475. However, this is lower than the IPO price band of ₹638 to ₹672 per equity share. These observations suggest that the market sentiment surrounding IdeaForge’s IPO is cautious, with potential investors exercising prudence in their assessments.
Throughout its journey, ideaForge has consistently demonstrated its prowess in delivering innovative solutions to the market. Notably, the company achieved a significant milestone by becoming the pioneering force in India to develop and manufacture vertical take-off and landing (VTOL) drones. This cutting-edge technology revolutionized the capabilities of drones, offering a transformative approach to their operation. With VTOL drones, ideaForge enabled these aerial vehicles to take off and land vertically, granting them the versatility to navigate and operate in diverse environments with heightened agility and efficiency. This breakthrough innovation has not only propelled ideaForge to the forefront of the industry but has also opened up new possibilities for drone applications across various sectors. By pushing the boundaries of what drones can achieve, ideaForge continues to solidify its position as a trailblazer in the field of unmanned aerial systems.
ideaForge Technology IPO Dates
The initial public offering (IPO) of ideaForge Technology is scheduled to open on June 26, 2023, and conclude on June 30, 2023. Investors will have the opportunity to participate in the IPO by applying for a minimum lot size of 22 shares. The process of allotting shares will be finalized on Tuesday, July 4, 2023, and the allotted shares will be credited to the respective demat accounts of the investors by Thursday, July 6, 2023. The much-awaited listing of ideaForge Technology IPO is set to take place on Friday, July 7, 2023.
To oversee the IPO process, Link Intime India Private Ltd has been appointed as the registrar. They will be responsible for managing the allocation of shares, ensuring a smooth and efficient IPO experience for all investors.
ideaForge Technology IPO Details
| IPO Date | Jun 26, 2023 to Jun 30, 2023 |
| Face Value | ₹10 per share |
| Price | ₹638 to ₹672 per share |
| Lot Size | 22 Shares |
| Total Issue Size | [.] shares (aggregating up to ₹567.00 Cr) |
| Fresh Issue | [.] shares (aggregating up to ₹240.00 Cr) |
| Offer for Sale | 4,869,712 shares of ₹10 (aggregating up to ₹[.] Cr) |
| Employee Discount | Rs 32 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 38,098,559 |
| QIB Shares Offered | Not less than 75.00% of the Net offer |
| NII (HNI) Shares Offered | Not more than 15.00% of the Offer |
| Retail Shares Offered | Not more than 10.00% of the Offer |
Important Dates of ideaForge Technology IPO
ideaForge Technology IPO opens on Jun 26, 2023, and closes on Jun 30, 2023.
| Event | Tentative Date |
|---|---|
| Opening Date | Monday, 26 June 2023 |
| Closing Date | Thursday, 30 June 2023 |
| Basis of Allotment | Tuesday, 4 July 2023 |
| Initiation of Refunds | Wednesday, 5 July 2023 |
| Credit of Shares to Demat | Thursday, 6 July 2023 |
| Listing Date | Friday, 7 July 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Jun 29, 2023 |
ideaForge Technology IPO Lot Size
The ideaForge Technology IPO lot size is 22 shares.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 22 | ₹14,784 |
| Retail (Max) | 13 | 286 | ₹192,192 |
| S-HNI (Min) | 14 | 308 | ₹206,976 |
| S-HNI (Max) | 67 | 1,474 | ₹990,528 |
| B-HNI (Min) | 68 | 1,496 | ₹1,005,312 |
Objects of the ideaForge Technology IPO
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Repayment/prepayment of certain indebtedness availed by the company.
- Funding working capital requirements.
- Investment in product development.
- General corporate purposes.
About ideaForge Technology Limited IPO
Founded in 2007, ideaForge Technology Limited is a renowned manufacturer of Unmanned Aircraft Systems (UAS). Specializing in the production of Unmanned Aircraft Vehicles for Mapping, Security & Surveillance purposes, the company has established itself as a key player in the industry. With a diverse range of applications, ideaForge UAVs excel in mining area planning, mapping, and various other fields. Notably, these drones have significantly contributed to enhancing operations in the construction, real estate, and defence sectors.
To support their operations effectively, ideaForge offers two primary software solutions. The first is BlueFire Live!, a cutting-edge platform that enables secure and real-time streaming of UAV video feeds. Additionally, it facilitates remote payload control from a central command location. The second software, BlueFire Touch, serves as a Ground Control Software (GCS). It is designed specifically to plan and execute mapping and surveillance missions, featuring waypoint-based navigation that allows for pre-planned missions based on operational areas and target locations.
ideaForge has emerged as the leading player in the Indian Unmanned Aircraft Systems (“UAS”) market, commanding an impressive market share of approximately 50% in fiscal year 2022. Moreover, the company boasts the largest operational deployment of indigenous UAVs across India. On average, an ideaForge-manufactured drone takes off every five minutes to engage in surveillance and mapping activities.
Acknowledging the company’s remarkable achievements, ideaForge was ranked 7th globally in the dual-use category for drone manufacturers, encompassing both civil and defence applications. This prestigious recognition was awarded in December 2022 by Drone Industry Insights, a renowned industry publication.
With its unwavering commitment to excellence and continuous innovation, ideaForge Technology Limited remains at the forefront of the UAS market, delivering advanced solutions that cater to the diverse needs of its clientele.