IdeaForge IPO– IdeaForge intends to offer shares of its company to the public for the first time. This move will enable investors to become shareholders and potentially benefit from the company’s future success.
ideaForge Technology Limited, established in 2007, specializes in creating Unmanned Aircraft Systems (UAS). Their drones are designed for various purposes like mapping, security, and surveillance. These drones have a wide range of applications, including mining area planning, mapping, and assisting construction and real estate operations. They also support defense forces in conducting Intelligence, Surveillance, and Reconnaissance (ISR) activities along borders.
The company offers two main software solutions:
- BlueFire Live!: This software allows secure live streaming of the drone’s video feed and enables remote control of the payload from a central location.
- BlueFire Touch: This Ground Control Software (GCS) is used to plan and execute mapping and surveillance missions. It allows users to pre-plan missions based on the operational area and target locations using waypoint-based navigation.
ideaForge holds a significant position in the Indian UAS market, capturing around 50% of the market share in fiscal year 2022. They have the largest deployment of domestically manufactured UAVs in India, with an ideaForge drone taking off every five minutes on average for surveillance and mapping purposes.
According to a report by Drone Industry Insights in December 2022, ideaForge was ranked 7th globally among drone manufacturers operating in both civilian and defence sectors.
ideaForge IPO Timetable
|Opening Date||Monday, 26 June 2023|
|Closing Date||Thursday, 29 June 2023|
|Basis of Allotment||Tuesday, 4 July 2023|
|Initiation of Refunds||Wednesday, 5 July 2023|
|Credit of Shares to Demat||Thursday, 6 July 2023|
|Listing Date||Friday, 7 July 2023|
|Cut-off time for UPI mandate confirmation||5 PM on Jun 29, 2023|
IdeaForge IPO Details
|IdeaForge IPO Dates||26 – 29 June 2023|
|IdeaForge IPO Price||INR 638 – 672 per share|
|Fresh issue||INR 240 crore|
|Offer For Sale||4,869,712 shares (INR 310.69 – 327.24 crore)|
|Total IPO size||INR 550.69 – 567.24 crore|
|Minimum bid (lot size)||22 shares (INR 14,784)|
|Face Value||INR 10 per share|
|Listing On||BSE, NSE|
Objectives of Ideaforge IPO
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Repayment/prepayment of certain indebtedness availed by the company;
- Funding working capital requirements,
- Investment in product development, and
- General corporate purposes.
Company Financial – IDEAFORGE
|Period Ended||Total Assets||Total Revenue||Profit After Tax||Net Worth||Reserves and Surplus||Total Borrowing|
Ideaforge lot size
IDEAFORGE IPO- KPI
Key Performance Indicator
|Market Cap (₹ Cr.)||2800.2|