Ideaforge Technology Limited IPO | Ideaforge IPO smashes listing, investors’ money doubles

IPO News: The IPO of Ideaforge Technology Limited has been listed on the stock market from today. If you are also thinking of investing in stock market, then this is a good opportunity for you. You can buy the IPO of this company.

The film ‘3 Indians’ was the first film in the country to earn more than 200 crore rupees here. IdeaForge Tech’s IPO, a model of the drone that Aamir Khan flew in the film, also received a strong response. From 2021, it became the first company to be listed on the mainboard i.e. BSE-NSE, whose IPO received a 100-fold response. Now today its shares have also made a successful entry in the market. Its shares IPO investors at Rs. 672 were issued at Rs. On the NSE, the stock was listed at ₹1,300 per share, 93.5 per cent higher than the issue price, and on the BSE, the stock was listed at ₹1,305.10 per share. Thus the investors’ money has almost doubled.

Even after the listing, the rally of the stocks has not stopped and currently Rs. 1332.80 (Ideaforge Tech share price) and IPO investors are paying Rs. 660.80 i.e. making a profit of 98%. Employees got it at a discount of Rs 32, which means their money has doubled.

Listing ceremony of ideaForge Technology Limited will be starting soon. Watch the ceremony live!https://t.co/SsYnUGFQqo#nse #nseindia #listing #IPO #stockmarket #ShareMarket #ideaforgetechnologylimited @ashishchauhan https://t.co/SsYnUGFQqo

— NSE India (@NSEIndia) July 7, 2023

This IPO received a great response

Ideaforge Technologies’ IPO was heavily subscribed during the four-day subscription period. Overall, this IPO received 106.60 times subscription. Thus, after 2021, it became the first IPO to be subscribed more than 100 times.

The reserved category for eligible institutional buyers was subscribed 125.81 times. At the same time, this IPO received a total subscription of 80.58 times the NII quota. The IPO was subscribed 96.65 times in the category reserved for employees.

of the company IPO purpose of

The company is trying to raise Rs 44.20 crore through this IPO. For this there is a new equity issue of 60 lakh shares. Its face value has been fixed at 10 rupees. The company will use the money raised through the IPO for the purchase of new drones, capital expenditure and general corporate objectives. At the end of the financial year 2022-23, the company’s revenue is Rs. 12.07 crores. With this the net profit is Rs. 2.44 crore was recorded.

Let us tell you that the country’s leading IT company Infosys has 16,47,314 shares of IdeaForge. Which is 4.25 percent of the total paid up capital. It is believed that Infosys is going to make a huge profit on its investment on the listing. In IPO Rs. 240 crore fresh i.e. new shares have been issued, through which the company will repay the outstanding debt and spend on working capital requirements. IdeaForge also owns a stake in telecom hardware manufacturing company Qualcomm, Florintree Capital Partners. Several other investors, including Qualcomm, are selling their stake in the IPO. Ideaforge will be the first drone company to be listed on BSE and NSE.