The initial public offer of drone maker ideaforge Technology Limited was subscribed 13.27 times on the second day of share sale on Tuesday.
The Rs 567.24 crore initial share sale received bids for 6,16,78,386 shares against 46,48,870 shares on offer, according to NSE data.
The category for Retail Individual Investors (RIIs) received 36.36 times subscription, non-institutional investors quota got subscribed 21.59 times and Qualified Institutional Buyers (QIBs) portion 1.34 times.
The Initial Public Offer (IPO) has a fresh issue of up to Rs 240 crore and an offer for sale of up to 4,869,712 equity shares.
The IPO is in a price range of Rs 638-672 a share.
Proceeds from the fresh issuance to the tune of Rs 50 crore will be utilised for debt payment, Rs 135 crore towards funding working capital gap, Rs 40 crore for investment in product development and the remaining amount for general corporate purposes.
Founded in 2007, the Mumbai-based company has the largest operational deployment
Posts in category Business Standard
Delhi’s Deer Park de-recognised as ‘mini zoo’, deers to be shifted out (27-06-2023)
HDFC Bank stock to see inflow of $29 million on NSE rebalancing: Nuvama (27-06-2023)
HDFC Bank’s weight in the Nifty Bank index may rise from the current 26.3 per cent to 27.3 per cent
Force Motors surges 10%, hits over 4-year high; zooms 129% in 3 months (27-06-2023)
Thus far in the month of June, the stock has surged 43 per cent after the company reported 30 per cent year-on-year and month-on-month jump in total sales at 2,645 units for the May month.
Stock market holiday on Bakri Id rescheduled to June 29 from June 28 (27-06-2023)
This comes after the Maharashtra government postponed the Bakri Id holiday in the state to June 29 from June 28
Aditya Birla Capital gains 4%; hits 52-week high post launch of QIP issue (27-06-2023)
On June 1, the company’s board approved preferential issuance of Rs 1,250 crore to its promoter and promoter group entity, out of the total approved equity fund raise of upto Rs 3,000 crore.
Stock of this aerospace & defence company has zoomed 63% so far in June (27-06-2023)
Shares of Apollo Micro Systems hit a new high of Rs 55.25, zooming 355 per cent in past one year, as against 19 per cent rise in the S&P BSE Sensex.
InterGlobe Aviation market-cap nears Rs 1-trn mark; surges 26% in 2 months (27-06-2023)
IndiGo’s market cap hit Rs 97,921 crore in intra-day trade on Tuesday and was less than 2 per cent from hitting the milestone.
InterGlobe Aviation market-cap nears Rs 1-trn mark; surges 26% in 2 months (27-06-2023)
IndiGo’s market cap hit Rs 97,921 crore in intra-day trade on Tuesday and was less than 2 per cent from hitting the milestone.
Gold price falls Rs 100 to Rs 59,180, silver unchanged at Rs 70,900 (27-06-2023)
The price of 22-carat gold was unchanged at Rs 54,350.
Stocks to Watch: Lupin, Vi, Tech M, Bharti Airtel, Aditya Birla Capital (27-06-2023)
Stocks to Watch on June 27, 2023: Lupin: As per reports, Lupin is considering a restructuring move to unlock value by demerging its API (active pharmaceutical ingredients) business