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IDEAFORGE RANKS 10th AMONG MOST SUBSCRIBED IPO

by Koushik Gope
Published: Last Updated on 0 comment

ideaForge Technology, a leading Indian drone manufacturer, has ranked 10th among the most subscribed IPOs in India. The IPO was subscribed 106.05 times on the closing day on July 1, 2023. The issue was subscribed 166.35 times by qualified institutional buyers (QIBs), 69.15 times by non-institutional investors (NIIs), and 2.38 times by retail investors (RIs).

The issue was open for subscription from June 27 to July 1, 2023. The company raised a total of Rs 567 crore through the IPO. The issue was priced at Rs 135 per share.

ideaForge Technology is a leading manufacturer of drones for defense and commercial applications. The company’s drones are used by the Indian Army, Navy, Air Force, and other security agencies. The company also exports its drones to a number of countries around the world.

The strong subscription to ideaForge Technology’s IPO is a sign of the growing demand for drones in India. The drone market in India is expected to grow rapidly in the coming years, and ideaForge Technology is well-positioned to capitalize on this growth.

Here are some of the key takeaways from the IPO:

  • ideaForge Technology’s IPO was subscribed 106.05 times, ranking it 10th among the most subscribed IPOs in India.
  • The issue was subscribed 166.35 times by QIBs, 69.15 times by NIIs, and 2.38 times by RIs.
  • The company raised a total of Rs 567 crore through the IPO.
  • The issue was priced at Rs 135 per share.
  • ideaForge Technology is a leading manufacturer of drones for defense and commercial applications.
  • The company’s drones are used by the Indian Army, Navy, Air Force, and other security agencies.
  • The company also exports its drones to a number of countries around the world.
  • The strong subscription to ideaForge Technology’s IPO is a sign of the growing demand for drones in India.
  • The drone market in India is expected to grow rapidly in the coming years, and ideaForge Technology is well-positioned to capitalize on this growth.

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