ideaForge Technology IPO: Check day 3 live subscription status here

28 Jun 2023 , 12:10 PM

Unmanned Aircraft Vehicles manufacturing company ideaForge Technology’s initial public offer (IPO) has seen high demand from all sections of investors. The investors have bought 9,52,75,290 out of 46,48,870 available for subscription, i.e., 20.49 times at 11.57 AM.

Retail investors have submitted bids for 49.10 times the portion reserved for them, demonstrating high demand from this investor group. Employees have also shown significant interest, bidding 41.77 times their allotted quota. For employees, 13,112 shares have been allocated at a discounted price of Rs 32 per share compared to the final issue price.

High net worth individuals have subscribed to 35.22 times their designated quota, indicating strong participation from this category. Meanwhile, the portion reserved for qualified institutional investors has been subscribed 3.60 times, reflecting moderate interest from this investor group.

The drone maker is looking to raise Rs 567 crore from the IPO closing today at a price band of Rs 638-Rs 672 a share.

The offer consists of a fresh issue of Rs 240 crore and an offer for sale of 48.69 lakh equity shares by shareholders.

ideaForge IPO important details:

Open date	26 June, 2023
Close date	28 June, 2023
Lot size	22 shares
IPO size (Rs crore)	Rs 567 crore
IPO price range (Rs)	Rs 638-672
Minimum investment	Rs 14,784
Basis of allotment date	4 July, 2023
Refunds date	5 July, 2023
Credit to demat account date	6 July, 2023
Listing date	7 July, 2023