DRONE MAKER IDEAFORGE RAISES Rs 255 Cr FROM ANCHOR INVESTER AHEAD OF IPO

Bengaluru, June 24, 2023: IdeaForge, a leading drone maker in India, has raised Rs 255 crore from anchor investors ahead of its initial public offering (IPO).

The anchor investors include SBI Mutual Fund, Aditya Birla Sun Life Mutual Fund, and Nippon India Mutual Fund. The IPO is expected to be launched in the next few weeks.

IdeaForge is a Bengaluru-based company that was founded in 2007. The company develops and manufactures drones for a variety of applications, including defense, security, and agriculture.

The company has a strong track record of growth. In the financial year 2022-23, IdeaForge’s revenue grew by 50% to Rs 100 crore. The company’s net profit also grew by 40% to Rs 15 crore.

The IPO is expected to raise around Rs 750 crore. The proceeds from the IPO will be used to expand the company’s manufacturing capacity, develop new products, and expand into new markets.

Background

An IPO, or initial public offering, is a process by which a company offers its shares to the public for the first time. This allows the company to raise capital to fund its growth.

Anchor investors are institutional investors who invest in an IPO before it is open to the public. They are typically given a discount on the IPO price.

IdeaForge’s IPO

IdeaForge’s IPO is expected to be a landmark event for the Indian drone industry. The company is the first drone maker in India to go public.

The IPO is expected to be well-received by investors. IdeaForge is a strong company with a good track record of growth. The drone industry is also growing rapidly, both in India and globally.

The Future

The proceeds from the IPO will help IdeaForge to expand its manufacturing capacity, develop new products, and expand into new markets. This will allow the company to capture a larger share of the growing drone market.

The IPO is also expected to boost the Indian drone industry as a whole. It will show investors that the industry is viable and that there are good companies in the space. This will encourage other companies to enter the market and invest in research and development.

The IPO of IdeaForge is a significant event for the Indian drone industry. It is a sign of the growing maturity of the industry and the potential for growth. The IPO is also expected to boost the industry as a whole and encourage other companies to enter the market.thumb_upthumb_downuploadmore_vert

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