ideaForge IPO GMP:As of today, ideaForge IPO’s Grey Market Premium (GMP) stands at ₹550, which is ₹10 higher than Thursday’s GMP of ₹540, as per market observers.
After the closure of today’s subscription, all eyes will be on the ideaForge IPO allotment date, which is expected to be on July 5th, 2023.
ideaForge IPO GMP :The first sale of stock (Initial public offering) of ideaForge Innovation Restricted is arriving at today end.
The public issue was originally scheduled to close on June 29th, 2023. However, due to the revision in the stock market holiday for Bakri Eid festival, the last date for bidding in ideaForge IPO was shifted one day forward to June 30th, 2023. The drone maker company has set the price band for ideaForge Technology IPO at ₹638 to ₹672 per equity share, and the public issue has received a strong response from investors.
ideaForge IPO GMP today
In fact, ideaForge IPO has been consistently gaining strength in the unlisted stock market as well. According to market observers, shares of ideaForge Technology Ltd are trading at a premium of ₹550 per share in the grey market today. This implies that the ideaForge IPO grey market premium (GMP) today stands at ₹550, which is ₹10 per share higher than its Thursday GMP of ₹540. They attribute the rise in ideaForge IPO GMP today to the positive sentiments prevailing on Dalal Street and in the global market. As a guard drone creator organization, the ideaForge Initial public offering has figured out how to make a buzz among essential market financial backers.
Regarding the meaning of ideaForge IPO GMP, market observers explain that the ideaForge IPO GMP today is ₹550, indicating that the grey market expects the ideaForge IPO listing to take place around ₹1222 (₹672 + ₹550), which is more than 80% higher than its offer price of ₹638 to ₹672 per share.
ideaForge IPO GMP IPO subscription status
By 03:03 PM on the last day of bidding, the public issue has been subscribed 91.86 times, while the retail portion has been subscribed 82.43 times. In the NII category, the IPO has been subscribed 78.57 times, whereas in the QIB category, the ideaForge IPO has been subscribed 101.28 times.
ideaForge IPO GMP other details
The likely date for the ideaForge IPO allotment is July 5th, 2023, and the expected listing date is July 10th, 2023.
ideaForge IPO GMP review
Most brokerage firms have given a ‘buy’ recommendation for the ideaForge Technology IPO.
According to a report by Anand Rathi, Idea Forge Technology is a pioneer and leading player in the Indian Unmanned Aircraft System (UAS) market, capturing nearly 50% market share in FY2012. The company specializes in manufacturing unmanned aerial vehicles for applications such as mapping, security and surveillance. These drones have versatile capabilities and can be used in various mine field planning and mapping operations. By December 2022, IdeaForge ranked 7th globally among dual-use drone manufacturers, serving both civil and defense purposes. The company benefits from being a pure player in the Drone manufacturing division compared to its peers. The valuation of the company is considered reasonable based on the current valuation. Consequently, we highly recommend ‘Subscription-Long’ rating to the IPO keeping in view the promising potential for future growth.Hem Securities has also given a ‘buy’ recommendation to the IPO, stating, “The company’s in-house design-to-delivery capabilities and strong management abilities, along with demonstrated robust financial performance, make this issue an attractive destination for deploying funds. Hence, we recommend subscribing to the issue.”
Here are the latest updates regarding the ideaForge IPO GMP:
What is the current Ideaforge IPO Gray Market Premium (GMP)?
IdeaForge IPO GMP, also known as gray market premium, is currently at ₹550.
What are the Ideaforge IPO Kostak rates for today?
Ideaforge IPO cost price is ₹300.
What is the Ideaforge IPO subject to deal price for today?
The deal rates for the Ideaforge IPO have been set at ₹8500.
What are the expected returns for Ideaforge IPO?
Investors can expect an impressive 81% return on the IdeaForge IPO.
Here are some frequently asked questions about IdeaForge IPO Gray Market Premium (GMP):