ideaForge Technology Limited

Company Profile
Company Name ideaForge Technology Limited
Open Date 26-06-2023
Close Date 29-06-2023
Exchange NSE, BSE
Lot Size 22 Shares
Issue Price ₹ 638 - 672 per share
Issue Size Aggregating up to 567 Cr.
Application Amount Min. Inv. - ₹ 14,784 (22 shares) Max. Inv. - ₹ 1,92,192 (286 shares)
Recommendation Risk_Averse - Should Wait Risk_Seekers - Should Apply

ideaForge Technology Limited was incorporated in the year 2007 and has its registered office in Maharashtra. Company is the pioneer and the pre-eminent market leader in the Indian unmanned aircraft systems (“UAS”) market, with a market share of approximately 50% in Fiscal 2022. Company had the largest operational deployment of indigenous Unarmed Aerial Vehicles (UAVs), also referred to as drone, across India. Company is ranked 7th globally in the dual-use category (civil and defence) drone manufacturers as per the report published by Drone Industry Insights in December 2022. As on 31st March 2022, the company had 556 staff base on its payroll.

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Summary of Financials (All financials in Lakh)

For the Period Ended Mar-21 Mar-22 Mar-23
Total Assets 12,374.10 22,233.10 48,793.00
Net Assets 5,974.80 16,330.30 32,472.10
Total Borrowings 5,057.40 567.60 8,650.40
Total Revenue 3,633.50 16,144.80 19,640.20
Profit After Tax (1,462.6) 4,400.6 3,198.8

Tentative Timeline

Opening Date 26/06/2023
Closing Date 29-06-2023
Basis of Allotment 05-06-2023
Initiation of Refunds 06-06-2023
Credit of Shares to Demat 07-07-2023
Listing Date 07-07-2023

Objects of the Issue

Repayment/prepayment of certain indebtedness availed by the company
Funding working capital requirements
Investment in product development
General corporate purposes

Contact Information

Registered Office ideaForge Technology Limited EL-146 TTC Industrial Area, Electronic Zone, MIDC Mahape, Navi Mumbai – 400 710
Phone +91 84476 12778

Registrar Details

Name Link Intime India Private Limited
Phone +91-22-4918 6270

IPO Reservation

Anchor Investor Shares Offered -
QIB Shares Offered 2,528,596 (54.39%)
NII (HNI) Shares Offered 1,264,297 (27.20%)
Retail Shares Offered 842,865 (18.13%)
Employee Shares Offered 13,112 (0.28%)
Total Shares Offered 4,648,870 (100%)

Shareholding Pattern

Pre Issue Share Holding (Promoters) 33.37%
Post Issue Share Holding (Promoters) 30.19%

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