IPO

ideaForge Technology Limited IPO

Mainboard

Aerospace & Defense

Listed On: Jul 7, 2023 at ₹ 1300.0(NSE)

₹ 14784 /22 Shares

Check Allotment

26 Jun, 2023

Open Date

30 Jun, 2023

Close Date

05 Jul, 2023

Allotment Date

07 Jul, 2023

Listing Date
Price Summary

Last Closing

425.50 (-36.68%)

52 Week High

659.85

52 Week Low

304.20

Last Update

19-Dec-2025 3:30 PM
ideaForge Technology Limited IPO Issue Details
  • Issue Price ₹638-672 per equity share
  • Face Value ₹10 Per Equity Share
  • Issue Price Total ₹567 Cr :
    #Fresh Issue : 35,71,429 shares(aggregating up to ₹240.00 Cr) +
    #OFS : 48,69,712 shares of ₹10(aggregating up to ₹327 Cr)
  • Listing at BSE, NSE
  • List Price 1300.0(NSE)
  • Listing Date 2023-07-07
  • Lead Manager JM Financial Limited
    IIFL Securities Ltd
  • Registrar Link Intime India Private Ltd
ideaForge Technology Limited IPO Details
  • Retail Portion 10% (Number of Retail Applications : 38,309 Approx),
    (Number of sHNI Applications : 1,368 Approx),
    (Number of bHNI Applications : 2,736 Approx)
ideaForge Technology Limited IPO Documents
DRHP
RHP
ideaForge Technology Limited IPO Details


The IPO of ideaForge Technology Limited is priced at ₹638-672 per equity share, which has a face value of ₹10 Per Equity Share each, IPO bidding starts from Jun 26, 2023 and ends on Jun 30, 2023. The allotment for ideaForge Technology Limited IPO will be finalized on Jul 5, 2023. ideaForge Technology Limited IPO will be listed on BSE, NSE, with a tentative listing date fixed as Jul 7, 2023. The company shall list its equity shares on the BSE, NSE. Link Intime India Private Ltd is the registrar of the issue.

The book-running lead manager for the IPO is/are JM Financial Limited, IIFL Securities Ltd.


The ideaForge Technology Limited IPO sets its price band at 638-672 for each share. A single application for ideaForge Technology Limited IPO must contain at least 22 shares.

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ideaForge Technology Limited IPO Subscription Analysis And Details
Retail
85.15x
QIB
125.81x
NII
80.58x
bNII
81.99x
sNII
77.75x
Total
106.05x
As on QIB NII
bNII   sNII 		Retail Employee Total
Shares Offered / Reserved 2,528,596 1,264,297
842,864    421,433 		842,865 13,112 4,648,870
Day 1 26-06-23 05:00 PM
0.01 x 5.13
4.18 x   7.03 x 		12.48 x 8.47 x 3.69 x
Day 2 27-06-23 05:00 PM
1.34 x 21.59
18.63 x   27.50 x 		36.36 x 26.26 x 13.27 x
Day 3 28-06-23 05:00 PM
38.62 x 64.06
65.87 x   60.43 x 		64.84 x 63.99 x 50.30 x
Day 4 30-06-23 05:00 PM
125.81 x 80.58
81.99 x   77.75 x 		85.15 x 96.57 x 106.05 x
Total No of Applications
25,07,821
Subscription on the basis of Applications
65.49
ideaForge Technology Limited Valuations
Earnings Per Share (EPS) ₹7.68/-
P/E Ratio 87.54
RoNW 9.85%
Net Asset Value (NAV) - ₹86.81
ideaForge Technology Limited Company Financials
In Crs.
In Cr.
30-Sep-22 31-Mar-22 31-Mar-21 31-Mar-20
Assets 392.15 222.33 123.74 79.79
Revenue 143.44 161.45 36.34 16.32
Profit After Tax 45.21 44.01 -14.63 -13.45
About ideaForge Technology Limited Company

ideaForge Technology Limited is engaged in the business of manufacturing Unmanned Aircraft Systems (UAS).

The company manufactures Unmanned Aircraft Vehicles for Mapping, Security & Surveillance. These drones are capable of a wide range of mining area planning, and mapping applications. ideaForge UAVs help construction and real estate boost their operations. They also assist defense forces in conducting Intelligence, Surveillance, and Reconnaissance (ISR) operations along borders.

ideaForge has two main software, namely:
BlueFire Live!: It enables secure and live streaming of the UAV video feed and also allows payload control from a remote command location.
BlueFire Touch: BlueFire Touch is a Ground Control Software (GCS). It is built to plan and command both mapping and surveillance missions with the ability to pre-plan missions based on operational area and target locations via waypoint-based navigation.

The company is a market leader in the Indian Unmanned Aircraft Systems (UAS) market with a market share of approximately 50% in fiscal 2022. It has the largest operational deployment of indigenous UAVs across India, with an ideaForge-manufactured drone taking off every five minutes for surveillance and mapping on average.

The company has been ranked 7th globally in the dual-use category (civil and defense) drone manufacturers as per the report published by Drone Industry Insights in December 2022

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ideaForge Technology Limited - Promoter(s)

Mr. Ankit Mehta

Mr. Rahul Singh

Mr. Ashish Bhat

Pre Issue Share Holding : N/A%

Post Issue Share Holding : N/A%

ideaForge Technology Limited IPO - Issue Objectives
1

Repayment/prepayment of certain indebtedness availed by the company

2

Funding working capital requirements

3

Investment in product development

4

General corporate purposes

ideaForge Technology Limited IPO - Anchor Investors

ideaForge Technology raises Rs 254.88 crore via anchor book ahead of IPO.

Marquee investors who participated in the anchor book of the unmanned aircraft system manufacturer include Pinebridge Global Funds, Nomura Funds, Ashoka India Equity Investment Trust Plc, HSBC Mutual Fund, Goldman Sachs Funds and Carmignac Portfolio.

Among others, Tata AIA General Insurance Company, ICICI Prudential Mutual Fund, Invesco India, Axis Mutual Fund, HDFC Mutual Fund, Nippon Life India, Aditya Birla Sun Life Trustee, Quant Mutual Fund and Max Life Insurance also invested in the company via anchor book.