IPO watch: ideaForge Technology and Cyient DLM to hit primary market next week
Two initial public offerings (IPOs) are set to hit the primary market next week. ideaForge Technology IPO and Cyient DLM IPO are expected to raise a total of ₹1159 crore. The shares of both companies are available for trade in the grey market today. Shares of ideaForge Technology Ltd are available at a premium of ₹500 per share, while Cyient DLM share price is available at a premium of ₹110 per share. Here are the details of the upcoming IPOs:
ideaForge Technology IPO
The public issue of ideaForge Technology Ltd will open on 26th June 2023 and will remain open for bidding till 29th June 2023. The drone maker company has fixed the price of its IPO at ₹638 to ₹672 per equity share. According to market observers, the grey market premium for ideaForge IPO is currently at ₹500, which means the grey market is expecting around 75% listing gain from the public issue. The company has already raised ₹255 crore from anchor investors.
Cyient DLM IPO
The public issue of Cyient DLM Limited will open for subscription on 27th June 2023 and will remain open for bidding till 30th June 2023. The Electronic Manufacturing Services (EMS) company has fixed the price band of its public offer at ₹250 to ₹265 apiece. According to market observers, Cyient DLM POSITION GMP (grey market premium) today is ₹110 per equity share, which means the grey market is expecting around a 40% listing premium from the public offer.
Both companies propose to list on BSE and NSE. Investors can catch all the business news, market news, breaking news events, and the latest news updates on Live Mint. Download The Mint News App to get daily market updates.
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