The largest drone maker in India received 106 subscriptions before the offering ended. Retail individual investors (RIIs) obtained an allocation that was 85.1 times the reserved quota, qualified institutional buyers (QIBs) received an allocation that was 125.81 times, and non-institutional investors (NIIs) received an allocation that was 80.5 times the number of shares they had requested.

The company’s shares had a premium of INR 515 per share on the grey market prior to listing.With a 50% market share, IdeaForge Technology controls the unmanned aerial systems (UAS) sector in India.

[A link to the article is provided] to learn more.

IdeaForge Technology has been producing unmanned aerial systems since 2007 for use in mapping, security, and surveillance operations. IdeaForge, with its headquarters in Mumbai, is the seventh-ranked dual-use drone manufacturer in the world.

This was without a doubt a fantastic opportunity for investors, and it has generated impressive returns. Anubhuti Mishra, an equity research analyst at Swastika Investmart, recommends that investors sell their assets while they are making a profit rather than taking the chance of retaining them.

“There are certain business-related concerns with the company, and the stock is already trading at a large premium to its issue price. Therefore, it is wiser to lock in these gains now than to take the chance of holding on for longer. Aggressive investors, though, may still hold it with a stop loss at INR 1,170, she advised. Investors in all categories responded favorably to IdeaForge’s first public offering, which raised INR 5,672.4 crores and saw a 106-fold increase in subscriptions.

The shares requested were subscribed to 125.81 times for the QIB category, 85.2 times for the RII category, and 80.58 times for the NIIs.

With a roughly 50% market share as of the fiscal year 2022, IdeaForge is the industry leader and a significant participant in the Indian unmanned aerial systems (UAS) market. IdeaForge deployed the most indigenous unmanned aircraft systems (UAS) for mapping and surveillance across India, along with its drones. It will be using drones for monitoring and mapping every five minutes by the end of the fiscal year 2023. By March 31, 2023, its clients had accomplished more than 350,000 flights with their UAS.

They incorporate their payload, communication systems, and packaging in addition to UAS. Additionally, IdeaForge has created its own software stack for the communication, battery, power, and autopilot subsystems of unmanned aircraft systems.

“During market rises, there is a significant increase in new demat accounts. The performance of the market and the number of new demat accounts opened are directly related, according to V K Vijayakumar, chief investment strategist at Geojit Financial Services. “The sharp rise in the Nifty index from the March lows and the stories of wealth creation associated with it are attracting new investors,” he said. As long as the market is robust, this trend will continue.

Leave a Reply

Your email address will not be published. Required fields are marked *