Open Date
26 June 2023
29 June 2023
22 shares
Rs. 567.00 Cr
Close Date
Lot Size
IPO Size
Listing At
NSE, BSE
Listing Date
7 July 2023
Price Range
₹ 638 to ₹ 672 per share
ideaForge Technology Limited is engaged in the business of manufacturing Unmanned Aircraft Systems (UAS). The company is a market leader in the Indian Unmanned Aircraft Systems ("UAS") market with a market share of approximately 50% in fiscal 2022. It has the largest operational deployment of indigenous UAVs across India, with an ideaForge-manufactured drone taking off every five minutes for surveillance and mapping on average.
Objective of the ideaForge Technology IPO: The company intends to utilize the net proceeds from the issue towards the funding of the following objects: 1. Repayment/prepayment of certain indebtedness availed by the company; 2. Funding working capital requirements, 3. Investment in product development, and 4. General corporate purposes.
The allotment date of ideaForge Technology IPO is set for 4th July.
JM Financial Limited and IIFL Securities Ltd are the book runner