Page 2 - Ideaforge Ipo News Today

Ideaforge, Indias leading drone manufacturer, has opened its initial public offering (IPO) for subscription. The company has raised INR2.54bn ($34m) from anchor investors, including HSBC, Invesco, and Goldman Sachs. The IPO is priced between INR638-672 per share, with analysts arguing it is reasonably valued given the potential for future growth. With a 50% market share in Indias unmanned aircraft systems (UAS) industry, the drones made by Ideaforge are suitable for mapping, security, and survei...

According to IPO watch, shares of IdeaForge enjoyed a premium of Rs 450 in grey markets, implying a likely listing price of Rs 1,122 on the upper price band

The primary market in India has experienced a weak first half with only eight companies launching IPOs, leading to earnings of Rs 5,800 crore. This is an 85% YoY drop compared to the same period in 2018. Inflation uncertainty and high interest rates made investors wary in the opening months, but sentiment picked up towards the close of H1. Mankind Pharma raised Rs 4,300 crore in its IPO, which was the largest issue launched by a drug maker since Gland Pharma in 2017. Analysts predict the remaind...

The robust demand was driven by retail investors, whose category was subscribed 4.38 times. While the non-institutional portion was subscribed 1.03 times, there were no bids yet from qualified institutional buyers.

The NII part was subscribed 1.89 times so far, while there were no bids from qualified institutional buyers. According to market sources, the companys shares are commanding a premium of Rs 525-530 in the unlisted market, indicating big listing gains for investors if the trends sustain.

Little by little, India is chipping away at the Great Wall. Last week, research firms raised their 2024 forecast for wearable device shipments from India on account of the exponential increase in demand and fall in average selling prices. Part of the reason companies can maintain a low price is because they are ramping up local assembly of products, a move that is costing China. This and more in todays ETtech Top 5.

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Ideaforge, Indias leading drone maker, has opened its initial public offering (IPO) for subscription with a premium of Rs 460 in the unlisted market. The company is offering shares at Rs 638 to Rs 672 apiece and is looking to raise up to Rs 567 crore. Ideaforge got Rs 254 crore during the IPOs anchor round with participation from marquee investors like Nomura, HSBC, and Goldman Sachs. The companys net offer reserves about 75% for the QIB portion, 15% for non-institutional investors, and 10% for ...

Shares of IdeaForge are set to list on BSE and NSE soon, with the IPO opening on 26 June. Market observers predict a negative or neutral listing with a grey market premium of ₹475, lower than the IPO price band of ₹638 to ₹672 per equity share.

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.