Drone Technology / Defence UAV - Listed on 07 July 2023
ideaForge Technology (Drone Technology / Defence UAV) closed its IPO window in 2023 and listed on NSE and BSE on 07 July 2023 at an upper band issue price of Rs 672, opening at Rs 1300 for a listing gain of +93.5% and closing day one at Rs 1295 (+92.7% on closing basis). The IPO was subscribed 106.06x overall - QIB 125.81x, HNI/NII 80.58x, Retail 85.20x. The total issue size was Rs 567.24 Cr (Fresh Issue Rs 240 Cr, OFS Rs 327.24 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Drone Technology / Defence UAV
ideaForge Technology operates in the Drone Technology / Defence UAV space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The ideaForge Technology issue was offered at an upper price of Rs 672 and raised approximately Rs 567.24 crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 500 | +74.40% |
| Day 2 | Rs 500 | +74.40% |
| Day 3 | Rs 480 | +71.43% |
| Day 4 | Rs 480 | +71.43% |
| Day 5 | Rs 530 | +78.87% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
How the broader market moved around the ideaForge Technology IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
ideaForge Technology IPO listed at +93.5% versus the upper issue price of Rs 672 on 07 July 2023.
ideaForge Technology IPO was subscribed 106.06x overall. QIB portion was subscribed 125.81x, HNI / NII 80.58x and Retail 85.20x.
IPO GMP started at Rs 500 on Day 1 and moved to Rs 530 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.