IdeaForge IPO fully subscribed on the first day of bidding. GMP Review whether to apply?

IdeaForge IPO date: The drone maker IPO is open today and will be open until the 30th of June 2023.

ideaForge Technology’s IPO The initial public sale (IPO) for ideaForge Technology Limited opened for subscribers on June 26, 2023, i.e. this day. It will remain open for bidding until the 29th of June 2023 i.e. until Thursday of this week. The company that makes drones has set an ideaForge’s IPO price at between Rs638 and Rs672 for each equity share. However, the shares in ideaForge Technology Ltd have already been launched in the grey market. According to market watchers, ideaForge shares are available for sale at a cost of Rs450 a share in the grey market right now.

As per ideaForge IPO registration status, Retail investors have reacted strongly to the drone maker’s public offering. At 03:24 pm on the first day of bidding ideaForge IPO was subscribed 2.47 times, while the retail component has been viewed 9.31 times. In the NII category, it has received public subscriptions 2.78 times.

IdeaForge IPO fully subscribed

Here is a list of the most important ideaForge Technology IPO information:

1] IdeaForge Initial Public Offering GMP today According to market watchers the ideaForge Technology IPO’s GMP for the grey market (GMP) currently stands at 485 which means that the grey market could see about 70 percent gains from the public offering on ideaForge IPO subscription opening date.

2. ideaForge IPO subscription status: at 03:24 on the first day of bidding ideaForge IPO has been subscribed 2.47 times while its retail component is subscribing 9.31 times. In the NII category, the public issue was signed up 2.78 times.

3. IdeaForge IPO price: IdeaForge Technologies IPO cost has been set between Rs 638 and Rs672 for each equity share.

4. ideaForge Technology IPO allotment date following the closure of subscription ideaForge IPO allotment date is in all likelihood to arise on the 4th of July 2023.

5] ideaForge’s Size of the IPO: The drone manufacturer is hoping to raise 567 million through its public offering.

6] IdeaForge IPO lot size: The bidder can apply in lots, and one lot will comprise 22 shares of the company.

7] IdeaForge IPO listing The drone maker has suggested listing the shares of its shareholders on both NSE and BSE and the most likely date for listing shares is July 7th, 2023.

8. IdeaForge IPO registrar: Link Intime India Private Ltd has been appointed the legitimate registrar for this public offering.

9] review of the ideaForge IPO and the subscriber label to public sale, Motilal Oswal said, “We are awestruck by IFL due to its extensive product line, a strong presence in the niche market solid client relationships, and the high barriers to entry.

This issue’s value is 5x P/BV (peers average: 8x) on the basis of post issue and is, therefore, a reasonable price. We believe that IFL may benefit from government stimulation in the defense space as well as the rising corporate demand. Therefore, we suggest subscribing. Additionally, with the current upbeat market and the high demand for defense stocks, this issue may see gains on the listing too.”

ideaForge Technology IPO

If the ideaForge IPO is positive or negative for investors, Marwari Financial Services said, “Considering the FY23 Annualized EBITDA of Rs7.68 on the basis of post issue the company will offer at a price of 87.54x with a market cap of in the range of. 28,002mn. 

While its competitors, namely MTAR technology data patterns and Astra microwave products company trading at a price per share in the range of 58.52x, 84.95x, and 52.27x,” adding, We have assigned a “Subscribe” grade to this IPO because the enterprise is a pioneering and is the enterprise withinside the Indian UAS sector, with the benefit of being first to market and solid relations with a wide customer base. It is also available for sale at a fair price, given the potential for growth for the business.”

Disclaimer: The opinions and suggestions contained within this piece are the opinions of the individual analysts. These are not the opinions of Mint. We recommend investors consult with certified professionals prior to making any investment decision.

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