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

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Ideaforge Technology Ltd IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Jun 26, 23

IPO Closing Date

Jun 29, 23

Basis of Allotment

Jul 04, 23

Initiation of Refunds

Jul 05, 23

Credit of Shares to Demat Account

Jul 06, 23

IPO Listing Date

Jul 07, 23

Ideaforge IPO Subscription Details

DateQIBNIIRetailEMPTotal

Day 1Jun 25, 2023

 0.01 5.16 12.69 8.53 3.74

Day 2Jun 26, 2023

 1.34 21.64 36.79 26.65 13.36

Day 3Jun 27, 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

  1. The company is a pre-eminent market leader in the Indian UAV space having indigenous technology and an in-house manufacturing facility.

  2. They are one of the few vendors to have full-stack UAV solutions.

  3. They serve a diverse base of 265 customers.

Risks

3

  1. The industry in India is highly regulated, and failing to comply with regulations may impact the company’s operational and financial performance.

  2. Investors should invest with knowledge and understanding of the industry.

  3. The industry requires fulfilling significant licensing requirements.

  • How to apply in Ideaforge IPO
  • How to Check Ideaforge IPO Allotment Status
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Ideaforge Technology IPO FAQs

What is Ideaforge Technology Ltd. IPO?

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.

When will Ideaforge Technology Ltd. IPO allotment be available?

The Basis of Allotment will happen on 4th July 2023.

What will be the Ideaforge Technology Ltd. IPO lot size?

The IPO subscription window will open on 26th June 2023.

When will Ideaforge Technology Ltd. IPO open for subscription?

The IPO subscription window will open on 26th June 2023.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for a minimum of one lot, which consists of 22 shares.

When will Ideaforge Technology Ltd. list on exchanges?

 Ideaforge Technology Ltd IPO will list on the NSE exchange on Friday, 7th July 2023.

How to check the allotment status of the Ideaforge Technology Ltd. IPO?

 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’

What would be the listing gains on the Ideaforge Technology Ltd. IPO?

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.

I have finished the application process for Ideaforge Technology Ltd. IPO, but the funds are not yet debited. What is the reason?

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. 

How to approve the UPI mandate request for Ideaforge Technology Ltd. IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Ideaforge Technology Ltd. using one PAN?

You can submit only one application using your PAN card.

What is the minimum order quantity for Ideaforge Technology Ltd. IPO?

Will be updated soon.