ideaForge Technology Limited IPO
ideaForge Technology Limited IPO
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Having completed its public offering, ideaForge Technology Limited's is now listed and trading on the NSE, BSE exchange as of 07-07-2023. The IPO raised cumulative capital of 84,41,764 Shares, including 35,72,052 Shares in primary capital infusion and ₹327.25 Cr in secondary market transactions.
The IPO was conducted with a price range of ₹638 to ₹672 and minimum investment requirement of 22 shares. subscription activity between 26-06-2023 and 30-06-2023 reflected market assessment of the offering's valuation and prospects.
The allotment process finalized on 05-07-2023 distributed equity ownership to successful bidders. The listing established a transparent market mechanism for share trading, price discovery, and investor participation in the company's future growth.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
ideaForge Technology IPO About Company
ideaForge Technology Limited, incorporated in 2007, is a leading Indian manufacturer of Unmanned Aircraft Systems (UAS) with a market share of approximately 50% in fiscal 2022. The company has the largest operational deployment of indigenous UAVs in India, with an ideaForge-manufactured drone taking off every five minutes on average for surveillance and mapping. Globally, it is ranked 7th in the dual-use (civil and defense) drone manufacturing category, according to Drone Industry Insights’ December 2022 report.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
ideaForge Technology IPO Strength Factors
NA
ideaForge Technology IPO Risk Factors
NA
ideaForge Technology IPO Lead Manager(s)
- Jm Financial Limited
- IIFL Securities Limited
ideaForge Technology IPO Promoter(s)
- Mr. Ankit Mehta
- Mr. Rahul Singh
- Mr. Ashish Bhat
ideaForge Technology IPO FAQs
ideaForge Technology Limited IPO subscribed 106.05 times. The public issue subscribed 85.16 times in the retail category,125.81times in QIB, and 81.99 times in the HNI (10+) category byNovember 10, 2025 11:28:50 AM (Day 10).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
ideaForge Technology IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
ideaForge Technology IPO FAQs
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