Page 13 - Forge Technology News Today

IdeaForge Technology IPO: The issue includes issuance of fresh equity shares worth Rs 240 crore and an offer for sale (OFS) of 4,869,712 equity shares amounting to Rs 326.44 crore by promoters and existing shareholders. Investors can make a bid of a minimum of 22 equity shares and its multiples thereafter.

IdeaForge Technology Ltd, the largest drone manufacturer in India, has made its debut on the stock markets with its initial public offering (IPO) opening

ideaForge has been ranked seventh globally in the dual-use category drone manufacturers as per the report published by Drone Industry Insights in December 2022.

The company anticipates that it will not grow at the same pace as the Indian drone industry, which is expected to grow at least 18 times over the next five years as it does not plan to venture into the consumer and agri-spray drone segments.

IdeaForge IPO: Infosys holds 4.25% stake in the drone maker company, and is expected to benefit from the success of the IPO in the medium to long term, believe experts

Among its key risk factors is the fact that its top 10 clients constitute 91 percent of its revenues, and that forex fluctuations may adversely affect its profitability.

The selling pressure may continue for few more sessions amid consolidation, but large correction is unlikely due to favourable domestic economic conditions and fall in global commodity prices, experts said

In this calendar year so far over Rs 10,000 crore worth of mainboard IPOs by eight companies excluding these and 65 companies in the SME segment together have mopped over Rs 1,600 crore.

The company has a strong presence and expertise in its domain area with proprietary technologies and patents. The landscape for unmanned aircraft systems (UAS) is growing fast in the country and ideaForge stands to benefit given its presence in the B2B defence and civil segments.

The issue, with a price band of Rs 638 to 672 per share, will open for public subscription on June 26 and conclude on June 29.