ideaforge ipo

 IdeaForge is an Indian technology company that specializes in the design and development of unmanned aerial vehicles (UAVs), commonly known as drones. The company was founded in 2007 by three IIT Bombay graduates, and it has since become a leading player in the drone industry in India.

The initial public offering (IPO) of ideaForge Technology Ltd, India's largest drone maker, opened for subscription on June 26, 2023. The IPO is priced at ₹638 to ₹672 per share, with a total issue size of ₹567 crore. The IPO will close on June 29, 2023.

The IPO comprises a fresh issuance of shares worth ₹240 crore, and an offer for sale of 48.69 lakh equity shares by promoters and investors. The company is expected to be listed on the NSE and BSE on July 7, 2023.

ideaForge is a leading provider of unmanned aerial vehicles (UAVs) for civil and defence applications. The company's products are used by a variety of customers, including the Indian Army, the Indian Air Force, and the National Disaster Management Authority.

The IPO has been well-received by investors, with the grey market premium (GMP) reaching ₹475 on the day of opening. This suggests that the stock is likely to list at a premium to the IPO price.

If you are interested in investing in the ideaForge IPO, you can apply through a stockbroker. The minimum investment amount is ₹22.

Here are some key details about the ideaForge IPO

Issue price       : ₹638 to ₹672 per share

Total issue size: ₹567 crore

Fresh issuance: ₹240 crore

Offer for sale.  : 48.69 lakh equity shares

Listing date     : July 7, 2023

GMP                  : ₹475

IdeaForge focuses on developing drones for defense, homeland security, and industrial applications. Their UAVs are designed to be rugged, reliable, and capable of operating in challenging environments. These drones are equipped with advanced features such as autonomous navigation, real-time video streaming, and data analytics capabilities.

The company has worked closely with various government agencies and defense forces in India, providing them with customized drone solutions for surveillance, reconnaissance, border security, and disaster management. IdeaForge's drones have been deployed in critical operations and have received recognition for their performance and reliability.

In addition to defense and security applications, IdeaForge also caters to industrial sectors such as infrastructure, energy, and agriculture. Their drones can be used for tasks such as inspection of power lines, pipelines, and infrastructure, as well as crop monitoring and spraying in agriculture.

IdeaForge's expertise in drone technology and their focus on developing innovative solutions have positioned them as a key player in the Indian drone industry. They continue to contribute to the growth and advancement of unmanned aerial systems in India and beyond.