ideaForge Technology was established on February 8, 2007. It is a pioneering and dominant market leader in the Indian unmanned aircraft systems market, capturing a market share of around 50% in Fiscal 2022
| Bidding Dates |
|---|
| 26 Jun 2023 - 30 Jun 2023 |
| Subscription |
|---|
| 106.05x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,784 | 1 | 13 | 22 | 8.4 M | ₹638 - ₹672 | 79.75 % | ₹5383.1 M - ₹5670.0 M | RHP DOC |
ideaForge Technology IPO SUBSCRIPTION STATUS
30 Jun '23ideaForge Technology IPO overall subscription rate was 106.05 times the total available shares
ideaForge Technology IPO retail subscription rate was 85.16 times in the retail segment
ideaForge Technology IPO non-institutional investor subscription rate was 80.58 times in the non-institutional investor category
ideaForge Technology IPO Qualified Institutional Bidder subscription rate was 125.81 times the available shares for Qualified Institutional Bidder
ideaForge Technology IPO Employees subscription rate was 96.59 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 10% | 15% | 75% | - |
30 Jun 2023 (Day 4) | 85.16x | 80.58x | 125.81x | 96.59x |
28 Jun 2023 (Day 3) | 64.48x | 64.06x | 38.62x | 63.99x |
27 Jun 2023 (Day 2) | 36.33x | 21.58x | 1.34x | 26.21x |
26 Jun 2023 (Day 1) | 12.48x | 5.13x | 0.01x | 8.47x |
ideaForge Technology FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| FY23 | 319.9 | 1,860.1 | -532.3 | -863.3 | 30.9% |
| FY22 | 440.1 | 1,594.4 | 665.2 | 530.7 | 47.1% |
| FY21 | -146.3 | 347.2 | -308.1 | -397.9 | -26.7% |
ideaForge Technology IPO SUBSCRIPTION STATUS DETAILS
ideaForge Technology had 8.4 M shares on offer
ideaForge Technology IPO offer price was in the range ₹638 - ₹672
ideaForge Technology IPO minimum Investment was ₹14784
ideaForge Technology IPO issue size was ₹ 5383.1 M - ₹ 5670.0 M
ideaForge Technology had a minimum lot size of 22 Shares per application
ideaForge Technology NUMBER OF SHARES ON OFFER
ideaForge Technology IPO IMPORTANT DATES
| Issue Open Date | 26 Jun 2023 |
| Issue close Date | 30 Jun 2023 |
| Allotment Date | 05 Jul 2023 |
| Refund Date | 06 Jul 2023 |
| Demat Account Credit Date | 07 Jul 2023 |
| Listing Date | 07 Jul 2023 |
| Listing on Exchange(s) | NSE and BSE |
| ideaForge Technology Allotment Status | Exchange |
ideaForge Technology IPO subscription opened on 26 Jun 2023, and closed on 30 Jun 2023
IPO allotment for ideaForge Technology was finalized on Wednesday, 05 Jul 2023
IPO listing for ideaForge Technology was on NSE and BSE on Friday, 07 Jul 2023
ideaForge Technology IPO LISTING GAINS
| Issue Price (adjusted) | 672.0 |
| Listing Open Price | 1300.0 |
| Listing Close Price | 1295.0 |
| Listing Gain% | 93.5% |
| Current Gain% | 35.7% |
ideaForge Technology Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ideaForge Technology Ltd. | 911.6 | 3798.8 | -265.9 | -3.7 | 20 | -2.8 | -2.1 | 248.4 | 36.2 | -17 | 72.7 | -3.4 | 72.6 |
| Hindustan Aeronautics Ltd. | 4910 | 328368.5 | 36 | 4 | 9.9 | 22.2 | 6.9 | 36788 | 9.7 | 9115.6 | 9 | 136.3 | 9 |
| Bharat Electronics Ltd. | 401 | 293122.1 | 47.7 | 4.1 | 10.2 | 25.3 | 13.6 | 28176.1 | 15 | 6062 | 13.9 | 8.4 | 11.7 |
| Mazagon Dock Shipbuilders Ltd. | 2514.9 | 101446 | 35.5 | 1.1 | 7.6 | 26.5 | 9.4 | 14145.7 | 12.7 | 2583.3 | 7 | 70.8 | 31.7 |
| Bharat Dynamics Ltd. | 1294 | 47433.2 | 112.8 | -4.8 | 19.4 | 9.9 | 2.9 | 2865.6 | -22.5 | 420.3 | -23.5 | 11.5 | -23.5 |
| Garden Reach Shipbuilders & Engineers Ltd. | 2599 | 29772.1 | 37.2 | 0.9 | 4 | 28.5 | 7 | 7276.5 | 34.5 | 747.9 | 41.8 | 69.9 | 42.9 |
ideaForge Technology INFORMATION ON IPO ISSUE
About ideaForge Technology
ideaForge Technology was established on February 8, 2007. It is a pioneering and dominant market leader in the Indian unmanned aircraft systems market, capturing a market share of around 50% in Fiscal 2022
Object of the Issue
- Repayment/prepayment of certain indebtedness availed by the company
- Funding working capital requirements
- Investment in product development
- General corporate purposes
ideaForge Technology - PROMOTERS
| Name |
|---|
| Ankit Mehta |
| Rahul Singh |
| Ashish Bhat |
ideaForge Technology Book Running Lead Managers
JM Financial Limited
ideaforge.ipo@jmfl.com
ideaForge Technology Book Running Lead Manager
IIFL Securities Limited
ideaforge.ipo@iiflcap.com
ideaForge Technology Registrar to the Offer
Link Intime India Private Limited
ideaforge.ipo@linkintime.co.in
ideaForge Technology Strengths
Market leader
The company is a pioneer and the leading market player in the Indian unmanned aircraft systems (UAS) market, holding a market share of around 50% in Fiscal 2022
Diversified product portfolio
The company offers a diverse range of products, backed by advanced technology, and has a proven track record of delivering successful outcomes in critical applications
Diverse customer base
As of December 31, 2022, the company has 265 customers, both domestically and internationally. Its customer base includes clients from the defence and civil sectors, with a primary focus on surveillance, mapping, and surveying applications
Proven track record
The company has a capable management team that has consistently achieved strong financial performance
ideaForge Technology Risks
Dependent on Indian government
The company relies heavily on sales to the Indian government, including central and state government agencies. Any decrease in the government budget or a reduction in orders could significantly impact the business in a negative way
Competitive industry
The industry is highly competitive, and if the company is unable to compete effectively, it may have a negative impact on the business, financial performance, and overall financial health
Certain liabilities
The company has potential liabilities that, if realized, could negatively impact its financial condition
IPO FAQs
This IPO consists of an offer for sale of up to Rs 327.0 crore, of 4,866,071 shares. It also consists of a fresh issue of Rs 240.0 crore.
The promoters of the company are Ankit Mehta, Rahul Singh and Ashish Bhat.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 638.0 - 672.0.
The IPO application opens on Jun 26, 2023 and closes on Jun 30, 2023.
The minimum lot size for the IPO is 22. The maximum lot size for the IPO is 286.
For all category investors, the minimum application amount for this IPO is Rs. 14,784.0, the maximum value for this IPO is Rs 192,192.0.
This IPO will be allotted on Jul 05, 2023.
The refund will be credited to your account on Jul 06, 2023.
The allotted shares will be credited to your demat on Jul 07, 2023.
ideaForge Technology Ltd.’s shares listed on the stock exchanges on Jul 07, 2023.