The IPO date for IdeaForge has been confirmed; the IPO will open on June 26 and finish on June 28. IdeaForge IPO will generate about ₹567 crores through an IPO that includes a fresh issue of ₹592 crores and an offer for sale of up to 4,869,712 equity shares at a price of 10 rupees each. The retail quota is 10%, the QIB quota is 75%, and the HNI quota is 15%.
IdeaForge is a drone manufacturing company that offers its clients drone solutions that include surveillance, mapping, and inspection. They are a market leader in the Indian market for unmanned aircraft systems (“UAS”) (Source: 1Lattice Report). In December 2022, they were placed seventh globally in the dual-use category (civil and defence) drone manufacturers (Source: 1Lattice Report). In FY 2022, they expect to have a market share of approximately 50% for unmanned aircraft systems (UAS) in India. ideaForge is a vertically integrated company that creates
and manufactures world-class drones for mapping, security, and surveillance applications. Their UAVs have industry-leading specs and capabilities, equivalent to those of other major worldwide leaders in the UAV market. According to banking sources, IdeaForge raised 60 crores in the pre-IPO round at a valuation of over 2,500 crore.
IdeaForge IPO GMP, Date & Price Band Details
| IPO Open: | June 26, 2023 |
| IPO Close: | June 28, 2023 |
| IPO Size: | Approx ₹592Crores |
| Fresh Issue: | Approx ₹592 Crores |
| Offer for Sale: | Approx 4,869,712 Equity Shares |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹250 to ₹265 Per Share |
| IPO Listing on: | BSE & NSE |
| Retail Quota: | 10% |
| QIB Quota: | 75% |
| NII Quota: | 15% |
| Discount: | N/A |
IdeaForge IPO Market Lot
The IdeaForge IPO minimum market lot is [.] shares with ₹[.] application amount. The retail investors can apply up-to 13 lots with [.] shares or ₹[.] amount.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | – | ₹- |
| Retail Maximum | 13 | – | ₹- |
| S-HNI Minimum | 14 | – | ₹- |
| B-HNI Minimum | 68 | – | ₹- |
Objects of the Issue
- Repayment/prepayment of certain indebtedness availed by our Company;
- Funding working capital requirements;
- Investment in product development; and
- General corporate purposes
IdeaForge IPO Review (Apply or Not)
- To be updated soon
Brokerage Firm IPO Review
- Capital Market: To be updated soon
- Religare Broking: To be updated soon
- Hem Securities: To be updated soon
- Arihant Capital: To be updated soon
IdeaForge IPO Allotment & Listing Dates
The IdeaForge IPO date is June 26 and the close date is June 28. The IdeaForge IPO allotment will be finalized on July 4 and the IPO listing on July 7.
| Price Band Announcement: | June 2023 |
| Anchor Investors Allotment: | June 2023 |
| IPO Open Date: | June 26, 2023 |
| IPO Close Date: | June 28, 2023 |
| Basis of Allotment: | July 4, 2023 |
| Refunds: | July 5, 2023 |
| Credit to Demat Account: | July 6, 2023 |
| IPO Listing Date: | July 7, 2023 |
IdeaForge IPO Form
How to apply for the IdeaForge IPO? –> You can apply for IdeaForge IPO via ASBA available in your bank account. Just go to the online bank login and apply via your bank account by selecting the IdeaForge IPO in the Invest section. The other option is you can apply for IdeaForge IPO via IPO forms downloaded via NSE and BSE. Check out the IdeaForge forms.
IdeaForge Company Financial Report
| ₹ in Crores | |||
| Year | Revenue | Expense | PAT |
| 2020 | ₹16.32 | ₹29.76 | ₹13.45 |
| 2021 | ₹36.32 | ₹50.84 | ₹14.63 |
| 2022 | ₹161.45 | ₹112.27 | ₹44.01 |
| 2023 6M | ₹143.44 | ₹83.95 | ₹45.21 |
IdeaForge IPO Valuation – FY2022
Check IdeaForge IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹13.84 per Equity Share |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 26.95% |
| Net Asset Value (NAV): | ₹51.36 per Equity Share |
Peer Group
- MTR Technologies Limited
- Data Patterns India Limited
- Astra Microwave Products
Company Promoters
- Ankit Mehta
- Rahul Singh
- Ashish Bhat
IdeaForge IPO Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Phone: +918108114949
Email: ideaforge.ipo@linkintime.co.in
Website: https://www.linkintime.co.in
Company Address
IDEAFORGE TECHNOLOGY LIMITED
EL-146, TTC Industrial Area,
Electronic Zone MIDC, Mahape,
Navi Mumbai, Thane 400 710, Maharashtra
Phone: +91 226787 5000
E-mail: compliance@ideaforgetech.com
Website: https://www.ideaforgetech.com
IdeaForge IPO Lead Managers aka Merchant Bankers
- JM Financial Limited
- IIFL Securities Limited
IdeaForge IPO FAQs:
Q1. What is IdeaForge IPO?
Ans. IdeaForge IPO is a main-board IPO. They are going to raise ₹₹592 Crores via IPO. The issue is priced at ₹250 to ₹265 pr equity share. The IPO is to be listed on BSE & NSE.
Q2. When IdeaForge IPO will open?
Ans. The IPO is to open on June 26 2023, for QIB, NII, and Retail Investors.
Q3. What is IdeaForge IPO Investors Portion?
Ans. The investors’ portion for QIB is 75%, NII is 15%, and Retail is 10%.
Q4. How to Apply the IdeaForge IPO?
Ans. You can apply for IdeaForge IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form.
Q5. How to Apply the IdeaForge IPO through Zerodha?
Ans. Log in to Console on Zerodha Website or in the Application. Go to Portfolio and Click on IPO. You will see the IPO Name “IdeaForge”. Click on Bid Button. Enter your UPI ID, Quantity, and Price. Submit IPO Application Form. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Zerodha.
Q6. How to Apply the IdeaForge IPO through Upstox?
Ans. Log in to the Upstox Application with your credentials. Select the IPO. You will see the IPO Name “IdeaForge”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox.
Q7. How to Apply the IdeaForge IPO through Paytm Money?
Ans. Log in to Paytm Money Application with your credentials. Select the IPO. You will see the IPO Name “IdeaForge”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Paytm Money.
Q8. What is IdeaForge IPO Size?
Ans. IdeaForge IPO size is ₹592 crores.
Q9. What is IdeaForge IPO Price Band?
Ans. IdeaForge IPO Price Band is ₹250 to ₹265 per share.
Q10. What is IdeaForge IPO Minimum and Maximum Lot Size?
Ans. The minimum bid is [.] Shares with ₹[.] amount while the maximum bid is [.] shares with ₹[.].
Q11. What is the IdeaForge IPO Allotment Date?
Ans. IdeaForge IPO allotment date is July 4, 2023.
Q12. What is the IdeaForge IPO Listing Date?
Ans. IdeaForge IPO listing date is July 7, 2023. The IPO is to list on BSE and NSE.
