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:
- BlueFire Live!: It enables secure and live streaming of the UAV video feed and also allows payload control from a remote command location.
- 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
| IPO Date | Jun 26, 2023 to Jun 29, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹638 to ₹672 per share |
| Lot Size | 22 Shares |
| Total Issue Size | [.] shares (aggregating up to ₹567.00 Cr) |
| Fresh Issue | [.] shares (aggregating up to ₹240.00 Cr) |
| Offer for Sale | 4,869,712 shares of ₹10 (aggregating up to ₹[.] Cr) |
| Employee Discount | Rs 32 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 38,098,559 |
ideaForge Technology IPO Reservation
| QIB Shares Offered | Not less than 75.00% of the Net offer |
| NII (HNI) Shares Offered | Not more than 15.00% of the Offer |
| Retail Shares Offered | Not more than 10.00% of the Offer |
ideaForge Technology IPO Timetable (Tentative)
ideaForge Technology IPO opens on Jun 26, 2023, and closes on Jun 29, 2023.
| Event | Tentative Date |
|---|---|
| Opening Date | Monday, 26 June 2023 |
| Closing Date | Thursday, 29 June 2023 |
| Basis of Allotment | Tuesday, 4 July 2023 |
| Initiation of Refunds | Wednesday, 5 July 2023 |
| Credit of Shares to Demat | Thursday, 6 July 2023 |
| Listing Date | Friday, 7 July 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Jun 29, 2023 |
ideaForge Technology IPO Lot Size
The ideaForge Technology IPO lot size is 22 shares.
| 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 |
| Lot Size Calculator |
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 | 60.65% |
| Post Issue Share Holding |
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 |
Objects of the Issue
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Repayment/prepayment of certain indebtedness availed by the company;
- Funding working capital requirements,
- Investment in product development, and
- General corporate purposes.
ideaForge Technology IPO Prospectus
Company Contact Information
ideaForge Technology Limited
EL-146 TTC Industrial Area,
Electronic Zone, MIDC Mahape,
Navi Mumbai – 400 710
Phone: +91 84476 12778
Email: business@ideaforgetech.com
Website: https://ideaforgetech.com/
ideaForge Technology IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: ideaforgetechnology.ipo@linkintime.co.in
Website: https://linkintime.co.in/