IdeaForge Technology Limited, a company founded in 2007, manufactures unmanned aircraft systems (UAS).
The company creates Unmanned Aerial Vehicles (UAVs) for mapping, security, and surveillance. These drones can be used for a variety of mining area planning and mapping purposes. UAVs from ideaForge help construction and real estate companies improve their operations. They also support defence forces with border Intelligence, Surveillance, and Reconnaissance (ISR) missions.
1 – BlueFire Live!: It provides for the secure and live broadcasting of the UAV video feed, as well as payload control from a remote command site.
2 – BlueFire Touch: A Ground Control Software (GCS) is BlueFire Touch. It is designed to plan and command mapping and surveillance operations, as well as to pre-plan missions based on operational region and target locations using waypoint-based navigation.
With a market share of nearly 50% in fiscal 2022, the business is a market leader in the Indian Unmanned Aircraft Systems (“UAS”) sector. It boasts the largest operational deployment of indigenous UAVs in India, with an ideaForge-built drone taking off every five minutes on average for surveillance and mapping.
According to a research issued in December 2022 by Drone Industry Insights, the business is rated seventh globally in the dual-use category (civil and defence) drone producers.
ideaForge Technology IPO Details
| IPO Date | Jun 26, 2023 to Jun 29, 2023 |
| Listing Date | [.] |
| Face Value | Rs 10 per share |
| Price | Rs 638 to Rs 672 per share |
| Lot Size | 22 Shares |
| Total Issue Size | [.] shares (aggregating up to Rs 567.00 Cr) |
| Fresh Issue | [.] shares (aggregating up to Rs 240.00 Cr) |
| Offer for Sale | 4,869,712 shares of Rs 10 (aggregating up to Rs [.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 38,098,559 |
ideaForge Technology IPO Timetable (Tentative)
ideaForge Technology IPO opens on Jun 26, 2023, and closes on Jun 29, 2023.
| Event | Tentative Date |
|---|---|
| Opening Date | Monday, 26 June 2023 |
| Closing Date | Thursday, 29 June 2023 |
| Basis of Allotment | Tuesday, 4 July 2023 |
| Initiation of Refunds | Wednesday, 5 July 2023 |
| Credit of Shares to Demat | Thursday, 6 July 2023 |
| Listing Date | Friday, 7 July 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Jun 29, 2023 |
ideaForge Technology IPO Lot Size
The ideaForge Technology IPO lot size is 22 shares.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 22 | Rs 14,784 |
| Retail (Max) | 13 | 286 | Rs 192,192 |
| S-HNI (Min) | 14 | 308 | Rs 206,976 |
| S-HNI (Max) | 67 | 1,474 | Rs 990,528 |
| B-HNI (Min) | 68 | 1,496 | Rs 1,005,312 |
ideaForge Technology IPO Reservation
| QIB Shares Offered | Not less than 75.00% of the Net offer |
| NII (HNI) Shares Offered | Not more than 15.00% of the Offer |
| Retail Shares Offered | Not more than 10.00% of the Offer |
