White Force IPO is a book-built issue IPO, aiming to raise ₹24.25 crore. It comprises of a fresh issue of 31.90 lakh equity shares. The bidding window was open from July 3, 2025, to July 7, 2025, with the IPO allotment to be finalised on July 8, 2025. White Force is scheduled to list on NSE SME on July 10, 2025.
The IPO was priced at of ₹72-₹76 per share with a lot size of 1600 shares. The public issue received bids for 72,84,800 shares against 20,33,600 shares available, resulting in an overall subscription of 3.58 times. QIBs led the response, subscribing 7.16 times their quota, followed by NIIs at 2.24 times.
White Forces' ₹24.25 crore IPO, priced at ₹72-₹76 per share, was subscribed 3.58 times overall. The IPO is an entirely a fresh issue of 31.90 lakh shares. Bidding took place from July 3 to July 7, 2025, with the White Force IPO allotment status on July 8, 2025. Retail investors subscribed 2.12 and NIIs 2.24 times. Listing is expected on July 10, 2025.
The table below breaks down the White Force share allocation for different categories, highlighting the number of shares and their percentage of the total issue. However, the key focus remains on the quotas allocated to retail investors and HNIs, as they are the most relevant for individual investors.
| Investor Category | Shares Offered |
| Market Maker Shares Offered | 2,88,000 (8.28%) |
| QIB Shares Offered | 14,48,000 (41.63%) |
| − Anchor Investor Shares Offered | 8,68,800 (24.98%) |
| − QIB (Ex. Anchor) Shares Offered | 5,79,200 (16.65%) |
| NII (HNI) Shares Offered | 4,36,800 (12.56%) |
| Retail Shares Offered | 10,17,600 (29.25%) |
| Total Shares Offered | 34,78,400 (100.00%) |
Data Source: NSE
| Category | Subscription (times) |
| Qualified Institutional Buyer | 7.16 |
| Non-Institutional Investors | 2.24 |
| Retail Individual Investors | 2.12 |
| Total shares | 3.58 |
Note: The subscription details are as of July 7, 2025
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Know more about IPO allotment status and check your application details online for the latest updates on share allocation.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jul 7, 2025, 9:06 PM IST
Akshay Shivalkar
Akshay Shivalkar is a financial content specialist who strategises and creates SEO-optimised content on the stock market, mutual funds, and other investment products. With experience in fintech and asset management, he simplifies complex financial concepts to help investors make informed decisions through his writing.
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