IdeaForge’s IPO goes Open for subscriptions today. GMP increases by 70%. Should subscribe?

IdeaForge’s IPO: IdeaForge’s Rs 567 million IPO will be open to subscriptions on the 15th of April. Do you want to apply for this drone manufacturer’s IPO? Here’s what experts have to say.

IdeaForge IPO drones demonstrate the shipping abilities on the pinnacle of a UPS truck all through checks at Lithia, Florida, U.S. 20 February 2017. REUTERS/Scott Audette/File Photo

IdeaForge’s IPO: ideaForge Initial public offering of the ideaForge IPO of Rs 567 crore goes live for participation today, the 26th of June. The public offering is the issue of shares that will be up to Rs 240 crore, and the offer to sell (OFS) element, which includes the promoters shedding 48.7 million shares. 

ideaForge has established the price range to be used for IPO at Rs 638-672 for each equity share. ideaForge shares have a grey market premium that soared to 70 percent on Monday and commanded an increase of 475 rupees over what was the IPO price, which implies that the price for listing is Rs 1,147 per share, which is at the top limit of the price band.

IdeaForge's IPO

IdeaForge IPO is open for subscriptions today,

IdeaForge’s IPO: The new issue portion of the offer was reduced by 240 percent instead of Rs 300 after ideaForge raised 60 crores through the sale of 8.92 million shares of its stock to investors from institutional sources as part of an IPO pre-placement round. The IPO will be closed for subscription on the 29th of June. The deadline for allotment of units is expected to be on July 4 and, after that, the issue is anticipated to be listed on the bourses by 7 July.

ideaForge creates Unmanned Aircraft Vehicles to be used for Mapping, Security & Surveillance. These drones can perform many mining area planning and mapping applications. IdeaForge UAVs can help in the development of real estate and the construction of their activities. They also assist the defense forces with conducting Intelligence, Surveillance, and Reconnaissance (ISR) operations across frontiers.

Should you apply for an IPO? IdeaForge IPO?

Mehta Equities: Join for a listing of gains

“We believe that the ideaForge IPO offer gives investors the chance to invest in one of the earliest market leaders and pioneers within the Indian Unmanned Aircraft Systems (UAS) drone market. Its leading position and the first-mover advantage propel its growth via a self-propagating flywheel. With a wide range of products, they offer differentiated features. They are one of the very few companies worldwide that offer a complete UAV solution that includes ground software as well as firmware and after-sales assistance.

Based on the valuation of the upper band of Rs. 672, the issue is seeking for a market capitalization of 2,800 crore. Based on FY23 earnings, P/E sits at 87x, which indicates that it is somewhat too high with no clear rivals to judge in the drone space. Based on the industry’s fancy market and the increase in current performance this issue is a good candidate for the advantage of being the first to list in the space, and as such, we suggest investors think about buying the issue for the sole purpose of listing.”

Motilal Oswal Subscription

ideaForge is a number of the maximum famous product portfolios withinside the marketplace with a twin consciousness on protection and civil applications. IFL’s revenues increased by more than 5x over FY21-23, reaching Rs 1.9 billion, and PAT increased in the last two years with FY23’s profit of Rs 320 million. We, therefore, recommend that you Subscribe. In addition, given the current booming market and the heightened interest in defense stocks, this issue may see gains on the listing also.”

Dilip Davda: You may subscribe

 “If we attribute FY23’s profits to the post-IPO completely diluted fairness capital, the asking rate is a rate-to-profits ratio of 87.50. This makes the pricing extremely aggressive and asks for a high price given the hype generated through Drones. Drone segment. It is also the Indian leading company in its UAS segment. It has reported an increase in its top line however for FY23 its bottom line sank due to ESOP’s impact. Based on the FY23 results, the issue seems to be priced aggressively, and well-informed/cash investors could consider parking funds to reap long-term benefits.”

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