Bidding Dates
To be announced
Minimum Investment
To be announced
Price Range
To be announced
Maximum Investment
To be announced
Retail Discount
To be announced
Issue Size
₹300 crore
Investor category and sub category
To be announced
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.
IPO 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.
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Ideaforge Technologies IPO combines a fresh issue size of Rs 300 crore and an offer for the sale of 4,869,712 equity shares.
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Retail investors can apply for a minimum of one lot.
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