Equity shares in ideaForge Technology Limited will be issued via book-built issue in the company’s Initial Public Offering (IPO). The initial public offering (IPO) for ideaForge Technology Limited is set for the week of June 26 – June 29, 2023.The issue is priced at ₹638 to ₹672 per share. The minimum order quantity is 22 Shares. With a face value of Rs. 10, each of the shares up for sale in the IPO may bring in as much as 567 Cr. for the company. Let’s learn more about their initial public offering scheduled for June of 2023.
About ideaForge Technology Limited
ideaForge Technology Limited, founded in 2007, is in the business of manufacturing Unmanned Aircraft Systems (UAS). The company creates Unmanned Aerial Vehicles (UAVs) for mapping, security, and surveillance. These drones can be used for a variety of mining area planning and mapping purposes. UAVs from ideaForge help construction and real estate companies improve their operations. They also support defense forces with border Intelligence, Surveillance, and Reconnaissance (ISR) missions.
With a market share of nearly 50% in fiscal 2022, the business is a market leader in the Indian Unmanned Aircraft Systems (“UAS”) sector. It boasts the largest operational deployment of indigenous UAVs in India, with an ideaForge-built drone taking off every five minutes on average for surveillance and mapping. According to a research issued in December 2022 by Drone Industry Insights, the business is rated seventh globally in the dual-use category (civil and defense) drone makers.
ideaForge Technology IPO Issue Details
| Issue Type | Book Built IPO Issue |
| Issue Opens | 26th June 2023 |
| Issue Closes | 29th June 2023 |
| Face Value | Rs 10 Per Share |
| Issue Price | Rs 638 to Rs 672 Per Share |
| Issue Size | 4,869,712 Shares (Rs 567 crores) |
| Minimum Order Quantity | 22 Shares |
| Listing | NSE, BSE |
Purpose of the Issue
The company aims to use the net revenues of the offering to fund the following projects:
- Funding the company’s working capital requirements,
- Investment in product development,
- Repayment/prepayment of certain borrowings, in part or in full,
- General company objectives.
ideaForge Technology Limited — Company Contact Details
- Registered & Corporate Office: EL-146 TTC Industrial Area, Electronic Zone, MIDC Mahape, Navi Mumbai – 400 710
- Telephone: +91 84476 12778
- Website: https://ideaforgetech.com/
ideaForge IPO – Lead Managers of the Issue
Iifl Securities Ltd
- Office Address: Kamala City, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013
- Telephone: 022-40071000
- Email: cs@iifl.com
Jm Financial Limited
- Office Address: 141 Maker Chamber III, Nariman Point, Mumbai 400 021
- Telephone: (91 22) 6630 3030
- Email: chintal.sakaria@jmfinancial.in
ideaForge IPO – Registrar of the Issue
Link Intime India Private Ltd
- Telephone: +91-22-4918 6270
- Email: ideaforgetechnology.ipo@linkintime.co.in
- Website: https://linkintime.co.in/
ideaForge Technology Limited IPO Issue Prospectus
Click here to read the Final Prospectus of this IPO Issue.
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