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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 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 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