IPO News Updates: IdeaForge Technology, a drone manufacturing company, is set to open its IPO next week. Prior to the opening for retail investors, the company has raised Rs. 255 crores through anchor investors. It is worth mentioning that regular investors can place bets on the company’s IPO from Monday onwards. Let’s delve into the details of IdeaForge Technology’s IPO.
When will it open? (IdeaForge IPO Details)
The IdeaForge IPO will remain open for investors from June 26 to June 29, 2023. The company has fixed the price band for the IPO at Rs. 638 to Rs. 672. The promoters and investors of the company will release 48.69 lakh shares of the company under a “for sale” offering. At the same time, fresh shares worth Rs. 240 crores will be issued.
What is GMP? (IdeaForge IPO GMP Today)
According to a top brokerage firm’s report, IdeaForge was trading at a premium of Rs. 470 per share yesterday. This figure is higher than Thursday’s closing price. If this trend continues, the company’s listing price can be around Rs. 1,142. This means that investors can become rich on the first day itself.
Tata has also invested money
Before the IPO, the company raised Rs. 60 crores through a pre-IPO placement round. The company collected this amount through Tata AIG General Insurance, 360 One Space Opportunities Fund Series 9 and 10, Motilal Oswal Midcap Fund, and Think Investment PCC.
What is Lot Size? (IdeaForge IPO Lot Size)
The company has decided the lot size for its IPO at 22 shares. From an investor’s perspective, the good news is that the company has already received a work order worth Rs. 192.27 crores in March 2023.
In conclusion, IdeaForge Technology’s IPO is expected to attract a lot of investors. The company’s robust fundamentals and growth prospects make it an attractive investment opportunity. Therefore, investors can expect a good return on their investment in the long run.
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