IdeaForge was started by four IIT Bombay alumni Ankit Mehta, Rahul Singh, Vipul Joshi, and Ashish Bhat. Idea Forge is one of the largest Drone manufacturing companies in India from its founding year 2007 to the present. Today (On 26 June 2023), IdeaForge opened its IPO and gave an opportunity to investors to invest their money in the pioneer of Unmanned Aircraft Systems in the Indian market.
There are 10 things to know about IdeaForge IPO you must have known before investing your money in the IdeaForge IPO.
10 Things To Know About IdeaForge IPO 2023
- IdeaForge is India’s pioneer company that has been manufacturing Unmanned Aircraft Systems used for mapping, security, surveillance, etc since 2007.
- As per the published report of Drone Industry Insights December 2022, IdeaForge secured 7th position globally in the dual-use category that includes civil and defence uses.
- IdeaForge IPO opening date is 26 June 2023 while it will be closed on 29 June 2023.
- Before launching the IdeaForge IPO, the company raised Rs 254 Crore from anchor investors including HDFC MF, Nomura, HSBC, Goldman Sachs, ICICI Pru MF, etc.
- If we consider the financial number of the company in FY 2023 compared to FY 2022 then the total revenue of IdeaForge in 2023 increased by 16% but the net profit is reduced by 27% to Rs 31.9 Crore (in 2023) from Rs 44 Crore (in 2022).
- Grey Market Premium (GMP) is the premium price or additional price on which a company IPO can be traded unofficially even before their official Stock Market listing. And IdeaForge company’s shares are commanding a premium exceeding Rs 450 in the unofficial market or grey market.
- IdeaForge is the leading Drone manufacturing company in India with a 50% market share.
- IdeaForge IPO price band is fixed at Rs 638 – Rs 672.
- IdeaForge IPO is planned to raise Rs 567 Crore at the upper end of the price band.
- Some of the main purposes of IdeaForge IPO besides the general corporate uses are an investment in product development, repaying debts, etc.
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