IdeaForge Technology Limited IPO (ideaForge Technology IPO) Detail

 

Incorporated in 2007, ideaForge Technology Limited is engaged in the business of manufacturing Unmanned Aircraft Systems (UAS).

The company manufactures Unmanned Aircraft Vehicles for Mapping, Security & Surveillance. These drones are capable of a wide range of mining area planning, and mapping applications. ideaForge UAVs help construction and real estate boost their operations. They also assist defense forces in conducting Intelligence, Surveillance, and Reconnaissance (ISR) operations along borders.

ideaForge has two main software, namely:

1. BlueFire Live!: It enables secure and live streaming of the UAV video feed and also allows payload control from a remote command location.

2. BlueFire Touch: BlueFire Touch is a Ground Control Software (GCS). It is built to plan and command both mapping and surveillance missions with the ability to pre-plan missions based on operational area and target locations via waypoint-based navigation.

The company is a market leader in the Indian Unmanned Aircraft Systems ("UAS") market with a market share of approximately 50% in fiscal 2022. It has the largest operational deployment of indigenous UAVs across India, with an ideaForge-manufactured drone taking off every five minutes for surveillance and mapping on average.

The company has been ranked 7th globally in the dual-use category (civil and defense) drone manufacturers as per the report published by Drone Industry Insights in December 2022.

ideaForge Technology IPO Details

ideaForge Technology IPO is a Book Built Issue. The IPO total issue size is Rs 567.29 Cr. The ideaForge Technology IPO price is ₹638 to ₹672 per share. The IPO will list on BSE, NSE.

IPO Date	Jun 26, 2023 to Jun 30, 2023
Listing Date	Jul 7, 2023
Face Value	₹10 per share
Price	₹638 to ₹672 per share
Lot Size	22 Shares
Total Issue Size	8,441,764 shares (aggregating up to ₹567.29 Cr)
Fresh Issue	3,572,052 shares (aggregating up to ₹240.00 Cr)
Offer for Sale	4,869,712 shares of ₹10 (aggregating up to ₹327.25 Cr)
Employee Discount	Rs 32 per share
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE
Share holding pre issue	38,098,559
Share holding post issue	41,670,611

ideaForge Technology IPO Reservation

ideaForge Technology IPO a total of 4,648,870 shares are offered. QIB: 2,528,596 (54.39%), RII: 842,865 (18.13%), NII: 1,264,297 (27.20%).

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%)

ideaForge Technology IPO Timetable (Tentative)

ideaForge Technology IPO opens on Jun 26, 2023, and closes on Jun 30, 2023.

IPO Open Date	Monday, 26 June 2023
IPO Close Date	Friday, 30 June 2023
Basis of Allotment	Wednesday, 5 July 2023
Initiation of Refunds	Thursday, 6 July 2023
Credit of Shares to Demat	Friday, 7 July 2023
Listing Date	Friday, 7 July 2023
Cut-off time for UPI mandate confirmation	5 PM on Jun 30, 2023

ideaForge Technology IPO Lot Size

The minimum lot size of this ideaForge Technology IPO is 22 shares required is ₹14,784.

Application	Lots	Shares	Amount
Retail (Min)	1	22	₹14,784
Retail (Max)	13	286	₹192,192
S-HNI (Min)	14	308	₹206,976
S-HNI (Max)	67	1,474	₹990,528
B-HNI (Min)	68	1,496	₹1,005,312

ideaForge Technology IPO Promoter Holding

The promoters of the company are Mr. Ankit Mehta, Mr. Rahul Singh, and Mr. Ashish Bhat.

Pre Issue Share Holding	33.37%
Post Issue Share Holding	30.19%

Company Financials

Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Reserves and Surplus	Total Borrowing
31-Mar-20	79.79	16.32	-13.45	68.12	68.05	5.30
31-Mar-21	123.74	36.34	-14.63	59.63	59.63	50.57
31-Mar-22	222.33	161.45	44.01	163.30	110.28	5.68
31-Mar-23	487.93	196.40	31.99	324.72		86.50
Amount in ₹ Crore

Key Performance Indicator

ideaForge Technology IPO Market Cap is Rs 2800.2 Cr and P/E (x) is 87.5.

KPI	Values
P/E (x)	87.5
Market Cap (₹ Cr.)	2800.2
ROE	13.11%
ROCE	12.51%
Debt/Equity	0.27
EPS (Rs)	8.12
RoNW	9.85%