ideaForge IPO: IPO of this company is going to open today, know details from price band to valuation
ideaForge IPO: Today everyone's attention in the market will be on the IPO of ideaForge. From today the IPOs of this company are being opened for investors. Investors will open for subscription for Drone Destination from 7th July 2023 which will close on 11th July. Let's know how much the price band has been fixed by the company this time.
Ideaforge Technology Limited's IPO is going to open today. If you are also planning to invest in the stock market, then this is a great opportunity for you. You can buy the IPO of this company.
According to the BSE website, the listing of Ideaforge IPO will be done on July 7, 2023, i.e. today. This means that today everyone's focus in the market will be on the IPO of this company.
The allotment of shares of the company will be done on July 14 i.e. exactly after a week. And on July 19, this company will be listed. The company has fixed the price band of its IPO at Rs 62-65 per share. Only 2,000 shares can be bid in one lot.
Of the company's IPO, 50 percent has been reserved for qualified institutional buyers. After this, 15 percent has been reserved for non-institutional investors and 35 percent for retail investors.
The company is trying to raise Rs 44.20 crore from this IPO. For this, there is a fresh equity issue of 60 lakh shares. Its face value has been fixed at Rs 10. The company will use the money raised through the IPO for the purchase of new drones, capital expenditure, and for meeting general corporate objectives.
Narnolia Financial Services Limited has been appointed as the Lead Manager for the issue. Apart from this, the advisors of this company's IPO will be Longview Research & Advisory and PLS Capital Consultants Private Limited.
The company's revenue for the year ending FY 2022-23 was Rs 12.07 crore. With this, the net profit was recorded at Rs 2.44 crore.