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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 Technology, whose Rs 567 crore IPO received a robust response from the investors during the bidding process, is expected to announce its allotment of shares on Wednesday, July 5, 2023. Watch this Visual story to check ideaForge GMP, how to check allotment status, and more.
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 company's shares are commanding a premium of Rs 525-530 in the unlisted market, indicating big listing gains for investors if the trends sustain.
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