Ideaforge IPO to open on Monday. Here are 10 things to know about the issue

Mumbai-based drone maker, Ideaforge, is set to go public on June 26 with a price band of INR638-672 ($8.50-$8.95) per share, raising INR567 crore ($75.8m) at the upper end. Of the net offer amount, 75% is reserved for qualified institutional buyers, 15% for non-institutional buyers, and 10% for retail investors. The company’s revenue increased 16% YoY for the fiscal year 2023 to INR186 crore ($24.9m), and net profit stood at INR31.99 crore ($4.28m) for the same period. Ideaforge plans to use proceeds from the IPO for product development and general corporate purposes, and to fund its working capital gap and debt.