IPO Details
Bidding Dates
26 Jun '23 - 29 Jun '23
Minimum Investment
₹14,784 / 1 Lots (22 Shares)
Price Range
₹638 - ₹672
Maximum Investment
₹192,192 / 13 Lots (286 Shares)
Retail Discount
Not Applicable
Issue Size
₹567.24 Cr
Investor category and sub category
Qualified Institutional Buyers | Non-Institutional Investors | Retail Individual Investors |ARQ IPO Prediction
Listing gain & Over subscription prediction
Over-Subscribed 6.69x
Chances of listing gains & oversubscription
high
Updated 5mins ago
DAY 2
Ideaforge Technology Ltd IPO Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Jun 26, 2023
IPO Closing Date
Jun 29, 2023
Basis of Allotment
Jul 4, 2023
Initiation of Refunds
Jul 5, 2023
Credit of Shares to Demat Account
Jul 6, 2023
IPO Listing Date
Jul 7, 2023
Ideaforge IPO Subscription Details
| Date | QIB | NII | Retail | EMP | Total |
|---|---|---|---|---|---|
Day 1Jun 26, 2023 |
0.01 | 5.16 | 12.69 | 8.53 | 3.74 |
Day 2Jun 27, 2023 |
1.34 | 21.64 | 36.79 | 26.65 | 13.36 |
Day 3Jun 28, 2023 |
10.15 | 42.84 | 53.54 | 48.33 | 27.02 |
Ideaforge IPO Subscription Status Live
| Investor Category | Subscription (Times) |
|---|---|
| Qualified Institutions | 10.15 |
| Non-Institutional Buyers | 42.84 |
| Retail Investors | 53.54 |
| Employees | 48.33 |
| Total | 27.02 |
About Ideaforge Technology Ltd IPO
Ideaforge Technology is a leader in the Indian unmanned aircraft segment with a 50% market share (fiscal 2022). According to a 1 Lattice Report, Ideaforge Technology is the 7th largest in the world in the dual-use category (Civil & Defence) of drone manufacturing.
The company conducted the largest operational deployment of indigenous UAVs in India completing 300,000 flights as of December 31, 2022.
Ideaforge manufactures drones used for surveillance and mapping. They are also the first company to develop vertical take-off and landing capabilities internally.
Ideaforge engages in investing, designing, and delivering customer-centric UAV products through a vertically integrated model. Being one of the first few players in the domain, they have introduced innovations in technology and design. The company showcased their 5G-enabled UAVs at the Indian Mobile Congress in 2018. They are among the few OEMs having proprietary autopilot sub-system and ground control software.
Financially, the company’s revenue from operations had grown at 237.48% CAGR in the last three fiscals.
Ideaforge Technology Ltd. IPO Objective
The company proposes to utilise the net proceeds from the offer to fund the following objects.
- Repayment or prepayment of certain loans
- To meet working capital requirements and invest in product development
- General corporate purposes
Should you invest in Ideaforge Technology Ltd.?
Here are the top reasons to consider before investing in Ideaforge Technology Ltd. IPO.
- Drone technology is a sunrise industry, with India having huge potential to become the drone hub of the world. The global industry has grown at 19% CAGR from 2018 to 2022.
- They have a diversified product portfolio for UAVs, including building the full software stack for flight safety, autopilot sub-system, battery, power and communication systems for their UAVs.
- They have filed 62 patents, including 28 patents filed in India and 38 patents filed internationally.
- The company is backed by eminent investors such as Infosys Ltd, Qualcomm, and Asia Pacific Pte. Ltd.
Competitive Peers
No company exclusively operates in the same business line of Ideaforge Technologies.
Ideaforge Technology Ltd. Noteworthy highlights
- The company recorded 49.63% returns on capital employed in Fiscal 2022.
- Their revenue from operations increased from Rs. 139.99 million in 2020 to Rs. 1,594.39 million in Fiscal 2022, recording 11.39x growth.
IdeaForge Technology Company Financials
| Particulars | Period ending on September 30, 2022 | Year ending on March 31, 2022 | Year ending on March 31, 2021 |
|---|---|---|---|
| Revenue from Operations | 1,395.48 | 1,594.39 | 347.18 |
| Profit After Tax (PAT) | 452.12 | 440.06 | 146.26 |
| PAT Margin | 32.40% | 27.60% | 42.13% |
| EBITDA | 659.52 | 751.31 | 92.51 |
| EBITDA Margin | 47.26% | 47.12% | 26.65% |
Know before investing
Strengths
3-
The company is a pre-eminent market leader in the Indian UAV space having indigenous technology and an in-house manufacturing facility.
-
They are one of the few vendors to have full-stack UAV solutions.
-
They serve a diverse base of 265 customers.
Risks
3-
The industry in India is highly regulated, and failing to comply with regulations may impact the company’s operational and financial performance.
-
Investors should invest with knowledge and understanding of the industry.
-
The industry requires fulfilling significant licensing requirements.
Over-Subscribed6.69x
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Over-Subscribed6.69x
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Ideaforge Technology IPO FAQs
Ideaforge Technologies IPO combines a fresh issue size of Rs. 240 crore and an Offer for Sale of 48,69,712 equity shares. The price band is Rs. 638 – 672 per share. The bidding window will open on 26th June 2023.
The Basis of Allotment will happen on 4th July 2023.
The IPO subscription window will open on 26th June 2023.
The IPO subscription window will open on 26th June 2023.
Retail investors can apply for a minimum of one lot, which consists of 22 shares.
Ideaforge Technology Ltd IPO will list on the NSE exchange on Friday, 7th July 2023.
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Validate with an OTP
- Enter your application number, DP ID, and PAN number into the app
- Click on ‘Submit’
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange, which is Friday, 7th July 2023, for Ideaforge Technology Ltd.
The bank will only block the amount initially in your account. Under the new system, the money isn’t debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
Will be updated soon.
