IdeaForge, a leading provider of drone-based solutions, has announced that its initial public offering (IPO) has been fully subscribed.
ideaForge Technology IPO Subscription Details (times)
| Date | QIB | NII | Retail | EMP | Total |
|---|---|---|---|---|---|
| Day 1 Jun 26, 2023 | 0.01 | 5.16 | 12.70 | 8.53 | 3.74 |
The proceeds from the IPO will be used to fund IdeaForge’s growth plans, including the expansion of its product portfolio, the development of new technologies, and the expansion of its sales and marketing team.
ideaForge Technology IPO Details
| IPO Date | Jun 26, 2023 to Jun 29, 2023 |
| Listing Date | Friday, 7 July 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 |
Benefits of the IPO for IdeaForge
The IPO will bring a number of benefits to IdeaForge, including:
- Increased funding: The IPO will provide IdeaForge with much-needed funding to support its growth plans.
- Enhanced brand reputation: The IPO will enhance IdeaForge’s brand reputation and make it more visible to investors.
- Access to capital markets: The IPO will give IdeaForge access to the capital markets, which will allow it to raise funds in the future.
Outlook for IdeaForge
IdeaForge is a leading player in the drone-based solutions market. The market is expected to grow significantly in the coming years, driven by the increasing demand for drones in a variety of sectors, including agriculture, defense, and infrastructure.
IdeaForge is well-positioned to capitalize on the growth of the drone-based solutions market. The company has a strong track record of innovation and has a strong team of experienced professionals.
I expect IdeaForge to continue to grow in the coming years. The company is well-positioned to become a leading provider of drone-based solutions in the global market.
Conclusion
The IPO of IdeaForge is a significant milestone for the company. The IPO will provide IdeaForge with the funding it needs to support its growth plans and make it more visible to investors. I expect IdeaForge to continue to grow in the coming years and become a leading provider of drone-based solutions in the global market.
Additional Information
- The IPO was managed by ICICI Securities, Axis Capital, and Nomura Financial Advisory and Securities.
- The company’s shares are listed on the BSE and NSE.
- IdeaForge’s drone-based solutions are used by a variety of customers, including the Indian Army, the Indian Air Force, and the Central Reserve Police Force.