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Ideaforge Technology has turned out to be the first IPO to get subscriptions more than 100 times in 18 months. Qualified institutional investors (QIIs) were at the forefront as their reserved portion was booked 125.81 times. The drone maker may be enjoying the first-mover advantage from the drone-making industry, said experts.
IdeaForge Technology IPO: As per revised fixtures available on BSE, the initial share sale would now conclude on June 30, due to shifting of market holiday to June 29. The IPO received 23,38,24,382 today against the issue size of 46,48,870 shares. The company has announced to sell its shares in the fixed price band of Rs 638-672 apiece.
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
Drone maker ideaforge Technology's Initial Public Offer (IPO) received 50 times subscriptions on day three of the share sale on Wednesday.
The issue was subscribed 3.69 times with bids of 1.71 crore shares against 46.49 lakh shares on offer. The bids came in a band of ₹638-672, according to stock exchange data.