IdeaForge IPO Date, Review, Price, Allotment Details

IdeaForge IPO Details: IdeaForge IPO date is fixed, the IPO is to hit the market on June 26 and will close on June 30. IdeaForge IPO to raise around ₹567 crores via IPO that comprises fresh issue of ₹240 crores and offer for sale up to 4,869,712 equity shares ₹10 each. The retail quota is 10%, QIB is 75%, and HNI is 15%.
IdeaForge IPO

Table of Contents

IdeaForge is a drone manufacturing company that provides drone solutions like surveillance, mapping, and inspection to their clients. They are one of the market leaders in the Indian unmanned aircraft systems (“UAS”) market (Source: 1Lattice Report). They ranked 7th globally in the dual-use category (civil and defense) drone manufacturers in December 2022 (Source: 1Lattice Report).

They have Indian unmanned aircraft systems (UAS) market share of around 50% in FY 2022. ideaForge is a vertically integrated company that designs and manufactures world-class drones for mapping, security, and surveillance applications. Their UAVs are equipped with industry-leading specifications and capabilities, comparable to those of other established global players in the UAV industry.

IdeaForge raises ₹60 crores in the pre-IPO round at a valuation of about ₹2,500 crore, banking sources told Economic Times (ET). ideaForge Technology raises Rs 254.88 crore via anchor book ahead of IPO – Some of the investors name include Pinebridge Global Funds, Nomura Funds, Ashoka India Equity Investment Trust Plc, HSBC Mutual Fund, Goldman Sachs Funds and Carmignac Portfolio.

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)

  • Apply

Brokerage Firm IPO Review

  • Arihant Capital Markets: Apply
  • BP Equities: Apply
  • Choice Equity Broking: Apply
  • GEPL Capital Ltd: Apply
  • Hem Securities: Apply
  • Marwadi Shares: Apply
  • Motilal Oswal: Apply
  • SBICAP Securities: Apply
  • Swastika Investmart: Apply

IdeaForge IPO Date & Price Band Details

IPO Open:June 26, 2023
IPO Close:June 30, 2023
IPO Size:Approx ₹567 Crores
Fresh Issue:Approx ₹240 Crores
Offer for Sale:Approx 4,869,712 Equity Shares
Face Value:₹10 Per Equity Share
IPO Price Band:₹638 to ₹672 Per Share
IPO Listing on:BSE & NSE
Retail Quota:10%
QIB Quota:75%
 NII Quota:15%
DRHP Draft Prospectus:Click Here
RHP Draft Prospectus:Click Here
Anchor Investors List:Click Here

IdeaForge IPO Market Lot

The IdeaForge IPO minimum market lot is 22 shares with ₹14,784 application amount. The retail investors can apply up-to 13 lots with 286 shares or ₹192,192 amount.

ApplicationLot SizeSharesAmount
Retail Minimum122₹14,784
Retail Maximum13286₹192,192
S-HNI Minimum14308₹206,976
B-HNI Minimum681496₹1,005,312

IdeaForge IPO Allotment & Listing Dates

The IdeaForge IPO date is June 26 and the close date is June 30. The IdeaForge IPO allotment will be finalized on July 4 and the IPO listing on July 7.

Price Band Announcement:June 21, 2023
Anchor Investors Allotment:June 23, 2023
IPO Open Date:June 26, 2023
IPO Close Date:June 30, 2023
Basis of Allotment:July 5, 2023
Refunds:July 6, 2023
Credit to Demat Account:July 7, 2023
IPO Listing Date:July 7, 2023

You can check IPO subscription status and IPO allotment status on their respective pages.

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 – Click BSE Forms & NSE Forms blank IPO forms download, fill, and submit in your bank or with your broker.

IdeaForge Company Financial Report

  ₹ in Crores
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

C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Phone: +918108114949
Email: [email protected]

IdeaForge IPO Allotment Status Check

Check IdeaForge IPO allotment status on Linkintime website allotment URL. Click Here

IdeaForge IPO Lead Managers aka Merchant Bankers

  • JM Financial Limited
  • IIFL Securities Limited

Company Address

EL-146, TTC Industrial Area,
Electronic Zone MIDC, Mahape,
Navi Mumbai, Thane 400 710, Maharashtra
Phone: +91 226787 5000
E-mail: [email protected]

IdeaForge IPO FAQs

What is IdeaForge IPO?

IdeaForge IPO is a main-board IPO. They are going to raise ₹567 Crores via IPO. The issue is priced at ₹638 to ₹672 pr equity share. The IPO is to be listed on BSE & NSE.

When IdeaForge IPO will open?

The IPO is to open on June 26, 2023 for QIB, NII, and Retail Investors.

What is IdeaForge IPO Investors Portion?

The investors’ portion for QIB is 75%, NII is 15%, and Retail is 10%.

How to Apply the IdeaForge IPO?

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.

How to Apply the IdeaForge IPO through Zerodha?

Log in to Console in Zerodha Website or in 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.

How to Apply the IdeaForge IPO through Upstox?

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.

How to Apply the IdeaForge IPO through Paytm Money?

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.

What is IdeaForge IPO Size?

IdeaForge IPO size is ₹567 crores.

What is IdeaForge IPO Price Band?

IdeaForge IPO Price Band is ₹638 to ₹672.

What is IdeaForge IPO Minimum and Maximum Lot Size?

The minimum bid is 22 Shares with ₹14,784 amount while the maximum bid is 13 shares with ₹192,192.

What is the IdeaForge IPO Allotment Date?

IdeaForge IPO allotment date is July 5, 2023.

What is the IdeaForge IPO Listing Date?

IdeaForge IPO listing date is July 7, 2023. The IPO is to list on BSE and NSE.

Note: The IdeaForge IPO price band and date are officially announced. The IPO grey market premium (IdeaForge IPO Premium) will be added to the IPO grey market page as it will start).

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