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Marquee investors who participated in the anchor book of the unmanned aircraft system manufacturer include Pinebridge Global Funds, Nomura Funds, Ashoka India Equity Investment Trust Plc, HSBC Mutual Fund, Goldman Sachs Funds and Carmignac Portfolio.
The closing date for the offer would be June 29, while the anchor book will be launched for a day on June 23, 2023.
Union AMC expects companies in the manufacturing sector to play a vital role in creating wealth for investors.
India's largest drone manufacturing company, IdeaForge Technologies, will open subscriptions for its Rs 567 crore ($76m) initial public offering on 26 June. The IPO will be available for public bidding until 29 June, with the allocation to anchor investors occurring on 23 June. The IPO consists of a fresh issue of equity shares of up to Rs 240 crore and selling shareholders offering 48.6 lakh shares. The funds raised will be used for product development, repayment of indebtedness, and other general corporate purposes.
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.