ideaForge Technology Limited, Established in 2007, specializes in the production of Unmanned Aircraft Systems (UAS).
The company focuses on crafting Unmanned Aircraft Vehicles used in Mapping, Security, and Surveillance. These drones excel in various applications such as mining area planning and mapping. ideaForge UAVs prove valuable to the construction and real estate sectors, enhancing their operations. Furthermore, they play a pivotal role for defense forces in conducting Intelligence, Surveillance, and Reconnaissance (ISR) missions along borders.
ideaForge offers two key software solutions:
BlueFire Live!: This facilitates secure live streaming of UAV video feed and allows payload control from a remote command center. BlueFire Touch: Serving as Ground Control Software (GCS), it aids in planning and commanding mapping and surveillance missions. The software enables pre-planning missions based on operational areas and target locations through waypoint-based navigation.
The company leads the Indian Unmanned Aircraft Systems (“UAS”) market with an approximate 50% market share in fiscal 2022. It boasts the largest operational deployment of indigenous UAVs across India, with an ideaForge-manufactured drone taking off for surveillance and mapping every five minutes on average.
In December 2022, Drone Industry Insights ranked the company 7th globally in the dual-use (civil and defense) drone manufacturers category.
Stock Quote #
- Open: ₹993.00
- High – Low: ₹1,007.80 – ₹982.30
- Previous Close: ₹988.05
- Total Traded Value: 1,58,597
- 52 Weeks High: ₹1,343.95 (Jul 07, 2023)
- 52 Weeks Low: ₹1,090.00 (Aug 07, 2023)
- Updated On: Aug 11, 2023 4:00 PM
IPO Details #
It is a Book Built Issue. The IPO total issue size is Rs 567.29 Cr. The ideaForge Technology IPO price is ₹638 to ₹672 per share. The IPO will list on BSE, NSE.
| IPO Date | Jun 26, 2023 to Jun 30, 2023 |
| Listing Date | Jul 7, 2023 |
| Face Value | ₹10 per share |
| Price | ₹638 to ₹672 per share |
| Lot Size | 22 Shares |
| Total Issue Size | 8,441,764 shares (aggregating up to ₹567.29 Cr) |
| Fresh Issue | 3,572,052 shares (aggregating up to ₹240.00 Cr) |
| Offer for Sale | 4,869,712 shares of ₹10 (aggregating up to ₹327.25 Cr) |
| Employee Discount | Rs 32 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 38,098,559 |
| Share holding post issue | 41,670,611 |
ideaForge Technology LimitedIPO Reservation #
ideaForge Technology IPO a total of 4,648,870 shares are offered. QIB: 2,528,596 (54.39%), RII: 842,865 (18.13%), NII: 1,264,297 (27.20%).
| Anchor Investor Shares Offered | – |
| QIB Shares Offered | 2,528,596 (54.39%) |
| NII (HNI) Shares Offered | 1,264,297 (27.20%) |
| Retail Shares Offered | 842,865 (18.13%) |
| Employee Shares Offered | 13,112 (0.28%) |
| Total Shares Offered | 4,648,870 (100%) |
ideaForge Technology IPO Timetable (Tentative) #
ideaForge Technology IPO opens on Jun 26, 2023, and closes on Jun 30, 2023.
| IPO Open Date | Monday, 26 June 2023 |
| IPO Close Date | Friday, 30 June 2023 |
| Basis of Allotment | Wednesday, 5 July 2023 |
| Initiation of Refunds | Thursday, 6 July 2023 |
| Credit of Shares to Demat | Friday, 7 July 2023 |
| Listing Date | Friday, 7 July 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Jun 30, 2023 |
ideaForge Technology IPO Lot Size #
The minimum lot size of this ideaForge Technology IPO is 22 shares required is ₹14,784.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 22 | ₹14,784 |
| Retail (Max) | 13 | 286 | ₹192,192 |
| S-HNI (Min) | 14 | 308 | ₹206,976 |
| S-HNI (Max) | 67 | 1,474 | ₹990,528 |
| B-HNI (Min) | 68 | 1,496 | ₹1,005,312 |
| Lot Size Calculator | |||
ideaForge Technology IPO Promoter Holding #
The promoters of the company are Mr. Ankit Mehta, Mr. Rahul Singh, and Mr. Ashish Bhat.
| Pre Issue Share Holding | 33.37% |
| Post Issue Share Holding | 30.19% |
Company Financials #
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 79.79 | 16.32 | -13.45 | 68.12 | 68.05 | 5.30 |
| 31-Mar-21 | 123.74 | 36.34 | -14.63 | 59.63 | 59.63 | 50.57 |
| 31-Mar-22 | 222.33 | 161.45 | 44.01 | 163.30 | 110.28 | 5.68 |
| 31-Mar-23 | 487.93 | 196.40 | 31.99 | 324.72 | 86.50 | |
| Amount in ₹ Crore | ||||||
Key Performance Indicator #
ideaForge Technology IPO Market Cap is Rs 2800.2 Cr and P/E (x) is 87.5.
| KPI | Values |
|---|---|
| P/E (x) | 87.5 |
| Market Cap (₹ Cr.) | 2800.2 |
| ROE | 13.11% |
| ROCE | 12.51% |
| Debt/Equity | 0.27 |
| EPS (Rs) | 8.12 |
| RoNW | 9.85% |
Objects of the Issue #
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Repayment/prepayment of certain indebtedness availed by the company;
- Funding working capital requirements,
- Investment in product development, and
- General corporate purposes.
ideaForge Technology IPO Subscription Status (Bidding Detail) #
The ideaForge Technology IPO is subscribed 106.06 times on Jun 30, 2023 7:02:00 PM. The public issue subscribed 85.20 times in the retail category, 125.81 times in the QIB category, and 80.58 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 125.81 |
| NII | 80.58 |
| bNII (bids above ₹10L) | 81.99 |
| sNII (bids below ₹10L) | 77.77 |
| Retail | 85.20 |
| Employee | 96.65 |
| Total | 106.06 |
Total Application : 2,509,004 (65.49 times)
ideaForge Technology IPO Prospectus #
ideaForge Technology IPO Listing Details #
| Listing Date | Jul 7, 2023 |
| BSE Script Code | 543932 |
| NSE Symbol | IDEAFORGE |
| ISIN | INE349Y01013 |
| Final Issue Price | ₹672 per share |
Listing Day Trading Information #
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹672.00 |
| ₹1,305.10 |
| ₹1,257.80 |
| ₹1,344.00 |
| ₹1,295.50 |
| NSE |
|---|
| ₹672.00 |
| ₹1,300.00 |
| ₹1,260.00 |
| ₹1,343.95 |
| ₹1,294.95 |
Company Contact Information #
EL-146 TTC Industrial Area,
Electronic Zone, MIDC Mahape,
Navi Mumbai – 400 710
Phone: +91 84476 12778
Email: business@ideaforgetech.com
Website: https://ideaforgetech.com/
ideaForge Technology IPO Registrar #
Phone: +91-22-4918 6270
Email: ideaforgetechnology.ipo@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html
ideaForge Technology IPO Lead Manager(s) #
FAQs #
What is the price range for ideaForge Technology Limited IPO shares? #
The ideaForge Technology IPO price range is ₹638 to ₹672 per share.
When is the IPO open and closing dates for ideaForge Technology? #
The IPO is open from June 26, 2023, to June 30, 2023.
How many shares are being offered in the ideaForge Technology IPO? #
The IPO offers a total of 4,648,870 equity shares.
What is the subscription status of ideaForge Technology IPO? #
The IPO offers 842,865 shares to retail investors and 2,528,596 shares to qualified institutional buyers.
When are the Equity Shares proposed to be listed for ideaForge Technology IPO? #
The Equity Shares are proposed to be listed on the main board of the stock exchange.
Can retail investors participate in ideaForge Technology IPO? #
Yes, retail investors can participate in the ideaForge Technology IPO.
When will the ideaForge Technology IPO shares be listed? #
The IPO shares will be listed on Friday, July 7, 2023.
Please note that the above information is based on the data available and may be subject to change.
