ideaForge IPO: IPO of this drone maker company opens today, know its main features
ideaForge IPO: IdeaForge Technology manufactures drones. The company has a manufacturing facility in Navi Mumbai, Maharashtra. The issue size of the IPO is Rs 567 crore and the price band has been fixed from Rs 638 to Rs 672 per share. The allotment of the IPO can happen on July 4 and the listing on NSE and BSE on July 7.
There is good news for investors waiting to invest in IPO. ideaForge's IPO opened for public investors on Monday (June 26). This IPO will remain open till Thursday (June 29).
According to the data, the company's IPO has been subscribed 0.54 times till 11 am and its retail quota has been filled 2.22 times.
ideaForge is a drone company. It started in Mumbai. The company also has a manufacturing facility in Navi Mumbai, Maharashtra. The company has also received funds from several PEs. The company order book is around Rs 192.27 crore. The company had a profit of Rs 32 crore in the financial year 2022-23.
IdeaForge IPO Highlights:
- The price band of ideaForge IPO is Rs 638 to Rs 672 per share.
-The issue size of the company is Rs 567 crore.
- The issue issued under the IPO consists of a fresh issue of Rs 240 crore and an OFS of 48,69,712 shares.
- The proceeds from the IPO will be used by the company for debt repayment, working capital, product development, and corporate affairs.
- Its lot size is 22 shares. Any investors must buy a lot to invest money in an IPO.
- The allotment of ideaForge IPO is likely to happen on July 4 and its listing on July 7 on NSE and BSE.
- The registrar of this IPO has been made to Link Intime India Private Ltd.
- Last week, the company raised Rs 60 crore during the pre-IPO placement. Institutional investors including Tata AIG General Insurance, 360 One Special Opportunities Fund - Series 9 & 10, Motilal Oswal Midcap Fund, and Think Investments PCC have invested in the company.
