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The issue was subscribed 3.69 times with bids of 1.71 crore shares against 46.49 lakh shares on offer. The bids came in a band of ₹638-672, according to stock exchange data.
IdeaForge Technology has seen a strong investor response to its IPO, with the issue getting subscribed 8.68 times so far on the second day of the bidding process.
IdeaForge Technology IPO: Market participants said Fusion Micro Finance IPO's grey market premium (GMP) was last heard between Rs 540 and Rs 545. Considering the higher GMP of Rs 545, the grey market is expecting the drone maker to list around Rs 1,217 (Rs 672 + Rs 545), which is 81.10 per cent higher than the IPO's upper band price of Rs 672 per equity share.
Nifty futures on the Singapore Exchange traded 7.50 points, or 0.04 per cent, lower at 18,707.50, hinting at a flat start for the domestic market on Monday.
Foreign institutional investors (FII) sold shares worth Rs 344.81 crore, while domestic institutional investors (DII) offloaded shares worth Rs 684.01 crore on June 23, provisional data from the National Stock Exchange shows.