ideaForge Technology Ltd. IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | — | 6,321,490 (75%) | — | ₹42,480 Cr |
| NII (HNI) | — | 1,264,297 (15%) | — | ₹8,496 Cr |
| Retail | — | 842,865 (10%) | — | ₹566 Cr |
| Employee | — | 13,112 (0%) | — | ₹9 Cr |
| Σ Total | — | 8,441,764 (100%) | — | ₹567,287 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 22 | ₹14,784 |
| Retail (Max) | 13 | 286 | ₹192,192 |
| S-HNI (Min) | 14 | 308 | ₹206,976 |
| B-HNI (Min) | 67 | 1,474 | ₹990,528 |
Financial Statements Amount in Crore
| Metric | 31-Mar-20 | 31-Mar-21 | 31-Mar-22 |
|---|---|---|---|
| Revenue | 16 | 36 | 161 |
| Profit After Tax | -13 | -15 | 44 |
| Net Worth | 68 | 60 | 163 |
| Total Assets | 80 | 124 | 222 |
| Reserves & Surplus | 68 | 60 | 110 |
| Total Borrowing | 5 | 51 | 6 |
Valuation & Key Ratios
Grey Market Premium (GMP)
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- 1 Repayment/prepayment of certain indebtedness availed by our Company; – 50.00
- 2 Funding working capital gap – 135.00
- 3 Investment in product development; and – 40.00
- 4 General corporate purposes – 0.16
Company Overview
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.