Update June 28, 2023: Due to revision in trading holiday on account of Bakri-Eid from June 28, 2023 to June 29, 2023. The closing date for IdeaForge IPO has been extended to June 30, 2023.
IdeaForge Technology Limited is a manufacturer of Unmanned Aircraft Systems (UAS), like drones and other related equipment and software. The products of the company are targeted towards both defense and civil sectors and are primarily used for applications in surveillance, mapping, and surveying.
The product portfolio of IdeaForge Technology consists of - 1. Hardware, which primarily includes UAVs, payloads, batteries, chargers, and communication systems 2. Software and embedded sub-systems 3. Solutions, which enables industry/application-specific software that enhances the value of UAVs to the end customer
As of fiscal 2022, IdeaForge Technologies held a market share of around 50% in the UAS market in India and is 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.
The public offer of IdeaForge Technology Limited includes a fresh offer of equity shares aggregating up to Rs. 240 crores and an offer for sale of 48.6 lakh equity shares from existing shareholders.
Objects of the issue and proceeds utilization
| Purpose | Proceeds (₹ crores) |
|---|---|
| Repayment/prepayment of certain debt availed by the company | 50 |
| Funding working capital gap | 135 |
| Investment in product development and | 40 |
| General corporate purposes | Balance |
Financial Information
| Financial Year | Total Assets (₹ crores) | Total Revenue (₹ crores) | Profit After Tax (₹ crores) | EBITDA (₹ crores) |
|---|---|---|---|---|
| March 31, 2021 | 123.74 | 36.34 | -14.63 | -9.25 |
| March 31, 2022 | 222.33 | 161.45 | 44.01 | 75.13 |
| March 31, 2023 | 487.93 | 196.40 | 31.99 | 57.49 |
Important information regarding the IPO
| Issue Period | 26th June - 30th June 2023 |
|---|---|
| Price Band | ₹ 638 - 672 |
| Minimum Bid Quantity | 22 and multiples thereof |
| Finalization of Allotment | 4th July 2023 |
| Initiation of Refunds | 5th July 2023 |
| Credit of Shares | 6th July 2023 |
| Date of Listing | 7th July 2023 |
| Mandate end date | 14th July 2023 |
| Anchor Investors Lock-In End Date | 29th July 2023 |
How to apply to the IdeaForge Technology Limited IPO?
You can apply for the IdeaForge Technology Limited IPO using any supported UPI app by following two steps:
- Enter your bid on Kite
- Accept the UPI mandate on your phone
On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.
How to check the allotment status for IdeaForge Technology Limited IPO?
You can check the allotment status for the IdeaForge Technology Limited IPO on the website of the Registrar and Transfer agent. Alternatively, you can also check the allotment status on the NSE website.