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Ideaforge IPO

Ideaforge Technology IPO

  • Status: Closed
  • RHP:
  • ₹ 14,036 / 22 shares

    Minimum Investment

IPO Details

  • Open Date

    26 Jun 2023

  • Close Date

    29 Jun 2023

  • IPO Price Range

    ₹ 638 to ₹ 672

  • IPO Size

    ₹ 567 Cr

  • Listing Exchange

    NSE, BSE

  • Listing Date

    07 Jul 2023

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Timeline Subscription Status Objective Financials SWOT FAQ Contacts

IPO Timeline

Ideaforge Technology IPO Subscription Status

Last Updated: 30 June 2023 12:29 AM by 5Paisa

ideaForge Technology is engaged in the business of manufacturing Unmanned Aircraft Systems (UAS) its IPO opens on 26th June and closes on 29th June.

The issue consists of a fresh issue aggregating up to ₹240 Crores. The price band for the issue is fixed at Rs.638 to Rs. 672 per share. The lot size is set for 22 shares per lot. The shares will be allotted on the 4th of July and the issue will be listed on the 7th July on the stock exchanges.

The book-running lead managers to the offer are Jm Financial Limited and IIFL Securities Ltd.

Objectives of ideaForge Technology IPO:

The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
1.    Repayment/prepayment of certain indebtedness availed by the company;
2.    Funding working capital requirements,
3.    Investment in product development, and
4.    General corporate purposes.
 

ideaForge Technology IPO Video:

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.

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.

Peer Comparison
●    MTR Technologies Limited
●    Data Patterns India Limited
●    Astra Microwave Products

For More Information:
Webstory on ideaForge Technology IPO
ideaForge Technology IPO GMP
 

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY22 FY21 FY20
Revenue 1,594.39 347.18 139.99
EBITDA 751.31 -92.51 -101.91
PAT 440.06 -146.26 -134.46
Particulars (in Rs. Crores) FY22 FY21 FY20
Total Assets 2,223.31 1,237.41 797.91
Share Capital 0.89 0.89 0.89
Total Borrowings 56.76 505.74 53.02
Particulars (in Rs. Crores) FY22 FY21 FY20
Net cash generated from / (used in) operating activities 736.62 -308.59 -161.12
Net cash from / (used in) investing activities -307.62 -68.03 47.61
Net cash flow from / (used in) financing activities -106.01 427.85 11.84
Net increase (decrease) in cash and cash equivalents 251.57 51.69 -105.22


Peer Comparison

There are no listed companies in India that engage in a business similar to that of this company


Strengths

1. ideaForge Technology is the pioneer and the pre-eminent market leader in the Indian UAS market, with a market share of approximately 50%.
2. Diversified product portfolio with a robust technology stack and track record of successful outcomes in critical use cases.
3. Strong relationships with a diverse customer base
 

Risks

1. The company operates in an industry that is highly regulated and subject to change. If it fails to comply with the applicable regulations and rules prescribed by the Government of India and the relevant statutory or regulatory bodies, its business, financial condition, cash flows and results of operations will be adversely affected
2. The company is a licensed manufacturer of Unmanned Aerial Vehicles under the Industries (Development and Regulation) Act, 1951, and any non-compliance of, or a failure to satisfy the terms and conditions under such license could lead to the cancellation of its license thereby creating a material adverse impact on its business, financial condition and results of operations.
3. The company is heavily reliant on sales to the Indian government including to the central and state government agencies. A decline in the government budget, reduction in orders, termination of existing contracts, delay of existing contracts or any kind of adverse change in the Government of India policies for the sector would have a material adverse impact on the business, financial condition, and results of operations.
4. The company is highly dependent on global vendors for the supply of components and may not be able to reduce the dependency on such imports. If critical components or raw materials become scarce or unavailable, then the company may incur delays in manufacturing and delivery of the products and in completing the development programs, which could damage the company’s business.
 

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FAQs

The minimum lot size of ideaForge Technology IPO is 22 shares. 

The price band of the ideaForge Technology IPO is Rs.638 - Rs.672 per share. 

The ideaForge Technology IPO opens on June 26, 2023 and closes on June 29, 2023.

The ideaForge Technology IPO comprises a total issue aggregating up to ₹567.00 Cr

The allotment date of ideaForge Technology IPO is 4th July 2023.

The listing date of ideaForge Technology IPO is 7th July 2023

JM Financial Limited and IIFL Securities Ltd are the book runner of ideaForge Technology IPO.

The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
1.    Repayment/prepayment of certain indebtedness availed by the company;
2.    Funding working capital requirements,
3.    Investment in product development, and
4.    General corporate purposes.
 

To apply for the ideaForge Technology IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and price at which you wish to apply for     
●    Enter your UPI ID and click on submit. With this, your bid will be placed     with the exchange    
●    You will receive a mandate notification to block funds in your UPI app