ideaForge Technology IPO will open for subscription from 26 June 2023. The company aims for an issue size of ₹567 Cr through this IPO.
Company Overview
| Full name | ideaForge Technology Limited |
| Sector | Capital goods |
| Industry | Engineering – Industrial equipments |
| Company Website | https://ideaforgetech.com/ |
About Company
IdeaForge was founded in 2007 by Ankit Mehta, Rahul Singh, and Ashish Bhat. It is a drone technology company that provides a range of drone solutions, including surveillance, mapping, and inspection. According to market research firms, it is the undisputed leader in the Indian unmanned aircraft systems (UAS) market with a share of approximately 50% in FY 2022. IdeaForge has grown at a CAGR of 237.48% in terms of revenue from operations over the last three FY 2020 – 2022, with a return on capital employed of 49.63% in FY 2022.
IdeaForge’s drones can be used for a variety of applications, including border security and disaster management. In addition, the company also offers software solutions, including a drone data management system that can help clients manage their data more effectively.
The Objective of the Issue
- Repayment/prepayment of certain indebtedness availed by the company;
- Funding working capital requirements,
- Investment in product development, and
- General corporate purposes.
ideaForge Technology IPO Timetable
| IPO Opening date | 26 June 2023 |
| IPO Closing | 29 June 2023 |
| Basis of Allotment | 04 July 2023 |
| Initiation Refund | 05 July 2023 |
| Credit to Demat Account | 06 July 2023 |
| Listing Date | 07 July 2023 |
ideaForge Technology IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹ 550.69 – ₹567.24 crore |
| Fresh Issue | ₹ 240 crore |
| Offer for sale | 4,869,712 shares (₹ 310.69 – ₹ 327.24 crore) |
| Face value | ₹10 per share |
| Price Band | ₹638 to ₹672 per share |
| Lot size | 22 Shares |
| Retail Allocation | 10% |
| Employee discount | ₹ 32 per share |
| Listing Exchange | BSE & NSE |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 22 | ₹14,784 |
| Retail (Max) | 13 | 286 | ₹192,192 |
| S-HNI (Min) | 14 | 308 | ₹206,976 |
| S-HNI (Max) | 67 | 1,474 | ₹990,528 |
| B-HNI (Min) | 68 | 1,496 | ₹1,005,312 |
Reservation Details
| QIB Shares Offered | 75 % |
| NII (HNI) Shares Offered | 15 % |
| Retail Shares Offered | 10 % |
Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 34.72 | 159.44 | 186.01 |
| Expenses | 50.84 | 111.27 | 155.61 |
| Net income | (14.63) | 44.01 | 31.99 |
| Margin (%) | (42.14) | 27.60 | 17.20 |
Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | (5.03) | 13.13 | 8.12 |
| PE ratio | – | – | 78.57 – 82.76 |
| RONW (%) | (24.48) | 26.95 | 9.85 |
| NAV | 20.57 | 51.36 | 86.81 |
| ROCE (%) | (15.18) | 49.63 | 12.51 |
| EBITDA (%) | (26.65) | 47.12 | 30.91 |
| Debt/Equity | 0.77 | (0.09) | 0.27 |
Company Promoters
- Mr. Ankit Mehta
- Mr. Rahul Singh
- Mr. Ashish Bhat.
Promoter Holding
| Pre Issue Share Holding | 60.65% |
| Post Issue Share Holding |
Lead Manager(s)
- Jm Financial Limited
- IIFL Securities Limited
IPO Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Phone: +918108114949
Email: ideaforge.ipo@linkintime.co.in
Website: www.linkintime.co.in
Contact Details
IDEAFORGE TECHNOLOGY LIMITED
EL-146, TTC Industrial Area,
Electronic Zone MIDC, Mahape,
Navi Mumbai, Thane 400 710, Maharashtra
Phone: +91 226787 5000
E-mail: compliance@ideaforgetech.com
Website: www.ideaforgetech.com
Allotment Status
IdeaForge IPO allotment status will be available on Link Intime’s website. Click on this link to get allotment status.
Final thoughts
ideaForge Technology IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
