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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.