Ideaforge Technology IPO: How To Check Allotment Status Online On Link Intime
Drone maker ideaForge Technology's IPO received an overwhelming response, with bids of 106.06 times the shares on offer.
The highly anticipated initial public offering (IPO) of drone maker IdeaForge Technology is set to finalize the allotment of IPO shares on July 5.
The IPO, valued at Rs 567 crore, garnered tremendous demand from investors across all categories during its subscription period from June 26 to June 30.
IdeaForge Technology Ltd.'s initial public offering was subscribed 3.69 times on the first day, 13.27 times on day 2 and 50.3 times on Day 3. The bidding was led by retail investors, non-institutional investors and employees. The IPO was fully subscribed on first day.
The IdeaForge Technology IPO witnessed an impressive oversubscription of 106.06 times, with bids received for a staggering 49.30 crore shares against the offered 46.48 lakh shares.
Subscription Status: Day 4
The IPO has been subscribed 106.06 times as of 7 p.m. on June 30.
Institutional investors: 125.81 times
Non-institutional investors: 80.58 times
Retail investors: 85.20 times
Employee reserved: 96.65 times
Investors who participated in the IdeaForge Technology IPO can now check their share allotment status conveniently online.
There are two methods available to check the allotment status: through the BSE website or the IPO registrar Link Intime's website.
How To Check IdeaForge Technology IPO Allotment Status On BSE Website
Visit the BSE website at https://www.bseindia.com/investors/appli_check.aspx
Select 'Equity' in the issue type.
Choose 'ideaForge Technology' in the Issue Name.
Enter either the Application Number or PAN.
Complete the captcha verification by clicking on 'I'm not a robot.'
Click on the 'Search' button to view your ideaForge Technology IPO allotment status.
How To Check IdeaForge Technology IPO Allotment Status On The Link Intime India Website
Alternatively, investors can also check their IdeaForge Technology IPO allotment status on the registrar's website, Link Intime, by following these steps:
Visit the website of Link Intime at https://linkintime.co.in/mipo/ipoallotment.html
Select 'ideaForge Technology' from the drop-down menu.
Choose one of the following options: Application Number, PAN, or DP Client ID.
Click on the 'Search' button.
Your ideaForge Technology IPO allotment status will be displayed on the screen.
The allotment of ideaForge Technology IPO shares will be finalized today, and the listing of the IPO is now preponed to July 7 after the initial listing date of July 10.
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IdeaForge IPO: All You Need To Know
About IdeaForge Technology
IdeaForge Technology Ltd. is a leading vertically integrated company specializing in the design and manufacture of high-quality drones for mapping, security, and surveillance applications.
With a market share of approximately 50% in the Indian unmanned aircraft systems market, IdeaForge is recognized as a pioneer and market leader.
The company's drones have been extensively deployed across India, with an IdeaForge-manufactured drone taking off every five minutes.
IdeaForge is also ranked seventh globally in the dual-use category for drone manufacturers.
Use Of Proceeds And Risk Factors
The funds raised through the IPO will be utilized for various purposes, including the repayment/prepayment of certain debts, funding working capital requirements, investment in product development, and general corporate purposes.
Investors should consider certain risk factors associated with the company, including compliance with changing regulations, reliance on sales to the Union government, fluctuations in government budgets, dependence on global vendors, potential defects or errors in products, cyber-attack vulnerabilities, challenges in international market expansion, and industry growth limitations.
With the IdeaForge Technology IPO allotment status now available, investors eagerly await the listing of the company's shares, which is expected to create a significant buzz in the market.
