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IPO Status: Listed [26th Jun 2023 to 30th Jun 2023]
ideaForge Technology Limited is bringing a mainline IPO including both Fresh issue and OFS (Offer For Sale). The subscription period for this IPO is from 26 Jun 2023 to 28 Jun 2023.The face value of the shares is Rs 10 per share and issue price band for this IPO is ranging from Rs 638 to Rs 672 per share along with the minimum lot size of 22 shares or its multiples.
Stay tuned for more on ideaForge Technology Limited IPO Review, including company overview, financials, live subscription, allocation, GMP and more.
| IPO Issue Opening Date: | 26th Jun 2023 |
| IPO Issue Closing Date: | 30th Jun 2023 |
| IPO Issue Price: | ₹638.00-672.00 Per Share |
| DRHP: | Download DRHP |
| RHP: | Download RHP |
| Anchor List: | Download Anchor List |
| IPO Listing At: | BSE, NSE |
| Retail Quota: | Not more than 10.00% of the Offer |
| IPO Issue Type: | Book Build Issue |
| IPO Issue Size: | ₹567.29 Cr |
| Offer for Sale: | ₹327.25 Cr |
| Fresh Issue: | ₹240.00 Cr |
| Face Value: | ₹10 Per Equity Share |
| IPO Discount: | Emplopee:32.00 |
| Promoter Holding Pre IPO: | 33.37% |
| Promoter Holding Post IPO: | |
| Allotment Status: | Allotment Status |
| BSE Code: | 543932 |
| NSE Code: | IDEAFORGE |
Get important updates regarding ideaForge Technology IPO tentative timeline covering IPO opening, closing, allotment, and listing dates. Dates are updated as they are announced.
| IPO Activity | Date |
|---|---|
| Basis of Allotment Date* | 5th Jul 2023 |
| Refunds Initiation* | 6th Jul 2023 |
| Credit of Shares to Demat* | 7th Jul 2023 |
| IPO Listing Date* | 7th Jul 2023 |
* - Tentative Dates
| IPO Activity | Date |
|---|---|
| Issue Price | ₹638.00-672.00 |
| Market Lot: | 22 Shares |
| 1 Lot Amount: | ₹14784 |
| Min Small HNI Lots(2-10 Lakh): | 308 shares (14 lots) |
| Min Big HNI Lots(10+ Lakh): | 1496 shares (68 lots) |
| GMP Date | IPO Price | GMP | Sub2 Sauda Rate | Expected Listing Gain | Last Updated |
|---|---|---|---|---|---|
| 07-07-2023 | 672 | 525 | 7000 | ₹1197 (78.12%) | 7-Jul-2023 10:36 |
**The GMP prices shown here are only news related to the grey market. We do not trade/deal in grey market or subject to rates (sub2), nor do we recommend trading in grey market.
ideaForge Technology was founded in 2007. The company is the pioneer and the pre-eminent leader in the Indian Unmanned Aerial Vehicle (UAV) market. Its UAVs are equipped with industry-leading specifications and capabilities comparable to other established global players in the UAV industry. The Company believes its growth is due to its indigenous design and technology capabilities, its ability to invent, develop and deliver customer-focused offerings (i.e., hardware, software and solutions), and its vertically integrated operations. These capabilities enable us to design, develop, engineer and manufacture our own UAVs while controlling performance, reliability and autonomy.
The company's UAV platforms are designed on a 'mission first' basis, meaning they meet customer requirements, can reliably complete many flights, and operate autonomously without specialised knowledge or training. The company is not only one of the first players in the Indian UAV market, but also the first company to design and manufacture UAVs with vertical take-off and landing ("VTOL") capability in India.
The company primarily targets customers with applications in surveillance, mapping and surveying. Although it does not enter into long-term contracts with its customers, it has established long-standing relationships with some of them. For example, its first UAV was sold in 2010 to a state police department, from which the company has received orders ever since. The company's customers include Indian defence and civilian customers, including some of the central armed police forces, state police agencies, disaster management forces, forestry agencies, private contractors related to smart cities, Pioneer Foundation Engineers Private Limited and C.E. Info Systems Limited.
| Incorporation | Sector | IPO Issue Size | Website |
| 2007 | Unmanned Aerial Vehicle | ₹567.29 Cr | https://ideaforgetech.com/ |
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
Our experts can help you prepare for SME IPO
The table below is live update of IPO bidding details from NSE and BSE.
| Day | QIB | NII | RII | EMP | Total | |
|---|---|---|---|---|---|---|
| # of Shares Offered | 2,528,596 (54.39%) | 1,264,297 (27.2%) | 842,865 (18.13%) | 13,112 | 4,648,870 | |
| 1 | 26th Jun 2023 19:04 | 0.01x | 5.16x | 12.70x | 8.53x | 3.74x |
| 2 | 27th Jun 2023 19:04 | 1.34x | 21.64x | 36.79x | 26.65x | 13.36x |
| 3 | 28th Jun 2023 19:04 | 38.62x | 64.10x | 64.88x | 64.84x | 50.38x |
| 4 | 30th Jun 2023 19:04 | 125.81x | 80.58x | 85.20x | 96.65x | 106.06x |
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 79.79 | 16.32 | -13.45 | 68.12 | 68.05 | 5.30 |
| 31-Mar-21 | 123.74 | 36.34 | -14.63 | 59.63 | 59.63 | 50.57 |
| 31-Mar-22 | 222.33 | 161.45 | 44.01 | 163.30 | 110.28 | 5.68 |
| 31-Mar-23 | 487.93 | 196.40 | 31.99 | 324.72 | 86.50 | |
| Amount in ₹ Crore | ||||||
The table below show peer comparison from DRHP/RHP.
| Company | EPS Basic | EPS Diluted | NAV | P/E(x) | RoNW | Financial statements |
|---|---|---|---|---|---|---|
| ideaForge Technology Limited | 8.55 | 8.12 | 86.81 | 9.85 | Consolidated | |
| MTAR Technologies Limited | 33.62 | 33.62 | 201.6 | 57.08 | 16.68 | Consolidated |
| Data Patterns India Limited | 23.8 | 23.8 | 224 | 72.83 | 10.62 | Consolidated |
| Astra Microwave Products | 8.06 | 8.06 | 74.17 | 43.88 | 10.87 | Consolidated |
Last Updated on 10-Jul-2023 19:30:24
Zerodha allows to apply online in IPOs via their back office software "console". UPI payment mode is to be used to apply online through Zerodha. To purchase ideaForge Technology IPO with Zerodha, you must be Zerodha customer and have UPI payment setup. For more details please visit detailed article Step by Step Guide to apply ideaForge Technology IPO with Zerodha.
Alternate approch to apply in ideaForge Technology IPO is ASBA. You can use Zerodha DP information and apply online via ASBA with your prefered net banking user id.
ideaForge Technology IPO Review and Important Updates
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To subscribe or apply in ideaForge Technology IPO, you can use the following methods:
| ideaForge Technology IPO Applying Mode | Method | Details |
| Online Application | 3-in-1 Trading Account | If your broker is 3-in-1 service provider, you can apply in ideaForge Technology IPO directly with your brokers website. Example HDFC Securities, ICICI Direct, AxisDirect are 3-in-1 brokers provide you direct IPO investment. |
| Online Application | 2-in-1 Trading Account | Brokers like Zerodha, TradeSmart Online provides access to applying in ideaForge Technology IPO with their in-house developed platform. You need to apply in IPO via UPI payment method. You must have access of your UPI mandate to apply in IPO online. |
| Online Application | ASBA | This is one of the most popular mode of applying in ideaForge Technology IPO. Most of the Syndicate Banks provide access to apply in ideaForge Technology IPO via ASBA process. You must have your net banking access, DP ID information to apply in ideaForge Technology IPO via ASBA. Bank like Axis, SBI allows you to apply maximum 5 application from one bank account. However, ICICI, HDFC bank have limit of one IPO ASBA application per account. |
| Offline Application | Physical Form | You can apply in ideaForge Technology IPO via physical form, but not with ASBA. Physical Forms need to be filled using UPI mode of payment and need to approve the mandate of UPI with your registered phone number with your UPI provider. You can use BHIM app or banks mobile app who support UPI process like SBI, HSBC, Axis, ICICI, HDFC, Yes Bank, Citi Bank mobile app. |
ideaForge Technology IPO Review and Important Updates
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Applying in ideaForge Technology IPO is very easy and quick process via ASBA. You can use your net banking user id and password to apply in IPO. In case you want to submit physical application, you can download ideaForge Technology IPO application online and submit to the nearest bank or to your broker. With new mandate from SEBI, all physical application need to use UPI mode of payment. In such case you have to setup UPI and provide your UPI information in physical application. Once your bank receives your application they will use UPI ID to block your money. You will get UPI mandate and need to approve the same to submit your application.
For more details on how to use UPI payment method to apply ideaForge Technology IPO, please refer article >> Link
ideaForge Technology IPO Review and Important Updates
Steps to download the online application form for ideaForge Technology IPO
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ideaForge Technology IPO is going to be list on 07-07-2023. NSE Code for ideaForge Technology is IDEAFORGE. BSE Code for ideaForge Technology is 543932.
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ideaForge Technology IPO Allotment Date is 05-07-2023.
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ideaForge Technology IPO share allotment date?ideaForge Technology IPO allotment date?
