The IPO received offers in excess of Rs. 33,000 crore at the top end of the Rs. 638-672 per share price range. The overwhelming demand was mainly driven by retail investors, and QIBs also showed keen interest in the IPO.
Updated on July 2, 2023 | 9:35 p.m. IST
ideaForge IPO: Follow these steps to check allotment status online to BSE, NSE
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Subscribe to Notifications Unsubscribe from Notifications ideaForge Technology Ltd, a well-known drone manufacturer, experienced an amazing response to its IPO with a subscription price of 106.05 on the last day of the tender. This is the first 100x subscription since 2022. The IPO received bids worth more than Rs 33,000 crore, at the top end of the Rs 638-672 per share price range. The overwhelming demand came mostly from retail investors, but qualified institutional buyers (QIBs) also showed keen interest in the IPO.
Robust offering and extended IPO dates
The IPO met with an enthusiastic response from both private and non-institutional buyers. The retail portion was subscribed 85 times, reflecting strong interest from retail investors. Qualified institutional buyers showed exceptional demand, with their reserved portion being oversubscribed by a whopping 125 times. Due to the high demand, the IPO dates were extended to four days to accommodate the increased investor interest.
Fundraising and IPO allocation
ideaForge aims to raise Rs 567 crore at the higher end of the price range through its IPO. Of this amount, 254.88 crore rupees were already raised via the anchor book on June 23, one day before the issue was opened. The remaining 312 crore rupees were made available for subscription in the current week ended June 30th. Investors are eagerly awaiting the IPO’s allotment and listing dates, which are expected to be July 5 and July 10, respectively.
Book Running Lead Manager and Registrar to Offer
JM Financial Limited and IIFL Securities Limited have been appointed as sole book-running lead managers for ideaForge’s IPO. Link Intime India Private Limited acts as registrar of the offer. These reputable companies will play a crucial role in managing the IPO process and ensuring a smooth and efficient experience for investors.
Check subscription status online
Investors can conveniently check their IPO allotment status for ideaForge online via the BSE and NSE websites. By following simple steps and entering their application number and PAN, investors can access their allocation status on both platforms.
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ideaForge IPO allotment status check to BSE:
1. Sign up using BSE direct link – bseindia.com/investors/appli_check.aspx;
2. Select “Equity” as issue type;
3. Enter the application number or PAN number, whichever you have.
4. Click on “I’m not a robot”.
5. Click on the “Search” button.
Your ideaForge IPO allotment status is available.
Check ideaForge’s IPO allotment status on the NSE website.
1. To check quota status at NSE: Go to the NSE website.
2. Click on “Equity” on the website and then select “ideaForge” from the drop-down menu;
3. Enter your application number and PAN;
4. Click Search. You can see the number of shares allocated to you.
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