ideaForge Technology Limited IPO Detail
Incorporated in 2007, 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.
Company Promoters
The promoters of the company are Mr. Ankit Mehta, Mr. Rahul Singh, and Mr. Ashish Bhat.IPO Details
| IPO Opening Date | Jun 26, 2023 |
| IPO Closing Date | Jun 29, 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹638 - 672 per equity share |
| Market Lot | 22 Shares |
| Min Order Quantity | 22 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹567.00 Cr |
| Fresh Issue | [.] shares (aggregating up to ₹240.00 Cr) |
| Offer for Sale | 4,869,712 shares of ₹10 (aggregating up to ₹[.] Cr) |
| Retail Portion | 10.00% |
IPO Tentative Timetable
The ideaForge Technology Limited IPO open date is Jun 26, 2023, and the close date is Jun 29, 2023. The issue may list on Jul 07, 2023.
| IPO Open Date | Jun 26, 2023 |
| IPO Close Date | Jun 29, 2023 |
| Basis of Allotment Date | Jul 04, 2023 |
| Initiation of Refunds | Jul 05, 2023 |
| Credit of Shares to Demat Account | Jul 06, 2023 |
| IPO Listing Date | Jul 07, 2023 |
IPO Lot Size
The ideaForge Technology Limited IPO market lot size is 22 shares. A retail-individual investor can apply for up to 13 lots (286 shares or ₹192192).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 22 | ₹14784 |
| Maximum | 13 | 286 | ₹192192 |
IPO Promoter Holding
| Pre Issue Share Holding | 60.65% |
| Post Issue Share Holding |
Company Financials:
For the year/period ended (₹ in Crore)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 123.74 | 36.34 | -14.63 |
| 31-Mar-22 | 222.33 | 161.45 | 44.01 |
| 31-Mar-23 | 487.93 | 196.40 | 31.99 |
Objects of the Issue:
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.
ideaForge Technology Limited IPO Registrar:
Link Intime India Private Ltd
ideaForge Technology Limited IPO Lead Manager(s):
Jm Financial Limited Iifl Securities Ltd
Company Contact Information:
ideaForge Technology Limited
EL-146 TTC Industrial Area, Electronic Zone, MIDC Mahape
Navi Mumbai
Navi Mumbai
