IdeaForge Technology Limited IPO is set to launch on 26 June, 2023. The company initiated its business operations in the year 2007. It is involved in the manufacturing of Unmanned Aircraft Systems. Its product is used for Surveillance, Security and Mapping Purposes. The drones have a wide range of mining areas and they assist the real estate segment for boosting their operations.
They also assist the defence segment as well. Its two main softwares are Bluefire Touch and Blue Fire Live. It is a market leader currently but the segment is witnessing a lot of competition lately from domestic as well as international companies.
IdeaForge Technology Limited IPO DETAILS
IdeaForge Technology Limited IPO is set to launch on 26 June, 2023. The subscription timeline extends till 29 June, 2023. The size for the IPO is 567 Crore Rs. Shares issued through fresh issue mode are worth 240 Crore Rs. Shares issued through offer for sale mode are worth Rs 327 Crore. The lot size is 22 shares and the price is 638 to 672 Rs per share. The company is going to get listed at both NSE and BSE. The face value per share is Rs.10 and this is a Book Built issue. The registrar for the company is Link Intime India Private Limited.
Tabular Description of IdeaForge Technology Limited IPO
| IPO OPENING DATE | 26 June, 2023 |
| CLOSING DATE FOR IPO | 29 June, 2023 |
| ISSUE TYPE | Book Built Issue |
| Face Value per share | 10 Rs. per share |
| IPO price band | 638 Rs to 672 per share |
| LOT SIZE | 22 shares |
| MINIMUM ORDER QUANTITY | 22 shares |
| ISSUE SIZE | 567 Crore Rs. |
| OFFER FOR SALE | 327 Crore Rs. |
| FRESH ISSUE | 240 Crore Rs. |
| LISTING AT | NSE, BSE |
| LISTING DATE | 7 July, 2023 |
IdeaForge Technology Limited IPO : IMPORTANT DATES
| IPO OPENING DATE | 26 June, 2023 |
| CLOSING DATE FOR IPO | 29 June, 2023 |
| IPO ALLOTMENT DATE | 4 July, 2023 |
| REFUNDS | 5 July, 2023 |
| DEMAT A/C CREDITED ON | 6 July, 2023 |
| IPO LISTING DATE | 7 July, 2023 |
IdeaForge Technology Limited IPO begins for subscription from 26 June, 2023. The IPO subscription would continue till 29 June, 2023. The allotment status for the shareholders who applied would come on 4 July, 2023. The refunds for the ones who did not get allotment would be initiated on 5 July, 2023. The DEMAT accounts of shareholders would be credited on 6 July, 2023. The listing of the company would be completed on 7 July, 2023.
IdeaForge Technology Limited IPO : Lead Managers
The lead managers are :
- IIFL Securities Limited
- JM Financial Limited
The minimum lot size for the company is decided at 22 shares. This holding accounts to 14784 Rs.. The maximum lot size is decided at 286 shares. This amounts to 192192 Rs.. Hence the company’s final holdings would be set as :
| Shares | Amount | |
| Minimum | 22 shares | 14784 Rs. |
| Maximum | 286 shares | 192192 Rs. |
OBJECTIVES FOR THE IPO
- IPO proceeds would be used for general corporate purposes.
- The company will use the IPO money for further working capital requirements.
- The funds will be utilised for product development purposes.
- The borrowings will also be paid off through the IPO Money.
COMPANY FINANCIALS
| Particularly (in Crore Rs.) | 2020-21 | 2021-22 | 2022-23 |
| ASSETS | 123 | 222 | 487 |
| Revenue | 36 | 161 | 196 |
| PAT | (-14) | 44 | 32 |
IdeaForge Technology Limited had an asset base of 123 Crore Rs in 2021 which increased tio 222 Crore Rs in 2022 and 487 Crore Rs in 2023. The revenue of the firm was 36 Crore Rs in 2021 which got a mega boost and came at 161 Crore Rs in 2021 but then again the growth declined to 196 Crore Rs. The profit of the firm was 44 Crore Rs in 2022 and 32 Crore Rs in 2023 but the firm was in a loss in the year 2021 of approximately 14 Crore Rs.
PROS
- Its product is used for Surveillance, Security and Mapping Purposes. The drones have a wide range of mining areas and they assist the real estate segment for boosting their operations.
- They also assist the defence segment as well. Its two main softwares are Bluefire Touch and Blue Fire Live. It is a market leader currently but the segment is witnessing a lot of competition lately from domestic as well as international companies.
CONS
- The financials of the company have started reviving recently and are still not consistently growing only which can be a red flag for the investors.
IdeaForge Technology Limited IPO Application Process with Zerodha
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
- Click the IdeaForge Technology Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.
