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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.
IdeaForge IPO GMP: Market observers expect the public issue to list at around ₹1227, indicating an 80% listing gain
IdeaForge IPO allotment date: The Rs 567.24-crore initial share sale received bids for 49,30,29,570 shares against 46,48,870 shares on offer, as per NSE data., Markets News, Times Now
The initial public offering (IPO) of Ideaforge, India's leading drone maker, has been subscribed 17.3 times on the third day of bidding. Retail investors have shown strong demand for the IPO, with the retail category subscribed 44.37 times. The IPO, originally slated to close on June 29, has yet to determine the closure date due to a market holiday. Market sources suggest that the company's shares could command a premium of Rs 540, indicating potential listing gains for investors. Despite concerns about valuation and risks, analysts recommend subscribing to the issue based on the company's str...
IdeaForge Tech IPO: According to IPO Watch, the shares are commanding grey market premium (GMP) of Rs 550, signaling a listing gain of 82 per cent over the upper end of the IPO price