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The IPO of ideaForge Technology manufacturer company received a super strong response from the investors and was overall subscribed 106.06 times.
IdeaForge has proposed to use the IPO proceeds to pay off debt and manage working-capital requirements. Analysts feel the future revenue hinges on the execution of the order book. According to them, ideaForge heavily relies on government-aided projects, which poses a significant risk. Slow processing, payment delays from such entities could impact its financials.
The Rs 379.35 crore-IPO of PKH Ventures kicks off for subscription on Friday as the company looks to sell its shares in the range of Rs 140-148 apiece, with a lot size of 100 equity shares until July 4.
The company says it has reached an agreement to reduce its overall debt by $2.1 billion.
IdeaForge IPO Allotment Status Check Online Directly on Link Intime, BSE: Check step by step guide to check from direct links., Markets News, Times Now