IDEAFORGE IPO LISTING
Number Game! Did most-subscribed IPOs of 2023 live up to the hype?
Forty-one of these 57 IPOs received a mega response of more than 10 times, with 16 IPOs garnering more than 50 times bids. Four issues even managed to cross over 100-times subscription.
IPO calendar next week: No new issues to open but 7 SMEs to list
The SME segment will see Balaji Valve Components, Sameer Agro and Infra, AIK Pipes, Akanksha Power, HRH Next Services, Manoj Ceramic and Kay Cee Energy debut on the SME platforms of both the exchanges.
Year-ender 2023: 86% mainboard IPOs, 82% SME issues delivered listing gains this year
While a large pool of investors focused mainly on listing gains, several IPOs have given better returns ranging from 50% to 140% after the initial phase of listing. About 42 companies continue to hold or deliver better returns than their initial gains.
IPOs with high demand from staff show big listing gains
This is because half of the companies that reserve portions for employees in their IPOs are not able to get the portion fully subscribed. Hence, when the employees over-subscribe to an issue, it indicates high confidence in the prospects of the business.
IPO scorecard in H1FY24: Only 1 loser, average listing gains at 29%
Ideaforge topped the charts with a stupendous return of 93%, followed by Utkarsh Small Finance Bank at 92% and Netweb Technologies at 82%. The largest IPO in the first half was from Mankind Pharma (Rs 4,326 crore), followed by JSW Infrastructure (Rs 2,800 crore) and RR Kabel (Rs 1,964 crore)
Mayuresh Joshi on the next turnaround story & 2 IPOs that have caught his attention
Mayuresh Joshi, Head of Equity Research at William O'Neil India, believes that Senco and ideaForge are two companies that have potential for long-term success. He suggests that Senco, in the jewelry industry, is likely to perform well structurally. Meanwhile, ideaForge, a player in the drone market, has a strong and promising future. Joshi also discusses the wind energy sector, stating that changes in tariffs and transmission charges could lead to improved financial performance for companies in the industry.
- Go To Page 1
Dream debut! Six IPOs in July offer listing gains of up to 94%
Even though the first half of the year has been muted for IPOs, the second half has more than made up for the lull in terms of a number of issues and also listing gains. As many six companies made their debut on the exchanges, and almost all of them delivered solid listing gains to investors
2023 turns blockbuster year for Indian IPO mart! Can this euphoria last?
Analysts believe that the impressive rally in the secondary market has helped boost sentiment of the IPO market. Against a backdrop of global uncertainty and volatility the Indian stock market has come through as domestic indices, BSE Sensex and Nifty50, have jumped 8.76% and 8.55% year-to-date (YTD), respectively.
Puneet Chandok to head Microsoft India ops; PayU India may soon go for public listing
Former Amazon executive Puneet Chandok, who left the Seattle-based etailer’s Amazon Web Services team as its India and South Asia head, in June, will now lead the India operations of Microsoft. This and more in today’s ETtech Top 5.
World’s biggest market for sub-$100 million IPOs booms in India
From finance startup Paytm to the nation’s largest insurer, investors have lost money from those IPOs in the past two years. They’ve turned to companies offering up to just $100 million in stock sales, as India hosted 92 such listings this year, the most in the world, according to data compiled by Bloomberg.
IPO market continues momentum with two more issues set to hit the Street this week
The IPO market has picked up pace in the second half of the year with three issues delivering strong listing gains. Netweb Technologies' IPO comprises a fresh issue of equity shares of up to Rs 206 crore and an offer-for-sale of up to 8.5 million equity shares by promoter-selling shareholders.
After near multibagger returns on debut, time to book profits in ideaForge?
While there is no doubt that this was a great opportunity for investors, and it has delivered some surprising returns, we would recommend that investors should book profits and exit their positions," said Anubhuti Mishra, Equity Research Analyst at Swastika Investmart.
Bumper listing! ideaForge nearly doubles IPO investor wealth with 94% gain
IdeaForge, India's leading drone maker, made a bumper listing in its stock debut, skyrocketing 94.21% to Rs 1,305.10 per share on BSE, while it debuted at Rs 1,300 on NSE. Despite expensive valuations, the drone maker attracted strong responses to its IPO offer, with subscription levels reaching 106 times at close. The company aims to utilise the proceeds from its fresh issuance mainly for working capital requirements and product development, among others.
ideaForge shares tank 10% on profit-booking after bumper listing
The IPO, which comprised a fresh equity issue of Rs 240 crore and an offer for sale (OFS) of 48.6 lakh shares, was subscribed over 100 times on strong institutional and retail interest.
IdeaForge lists at 94% above its IPO price
The previous best listing was by a speciality chemical company Tatva Chintan Pharma on July 29, 2021, which listed at a 95% premium over its issue price.
Ideaforge closes with 93% gain on Day 1: All you need to know
Ideaforge drew a rousing response from Dalal Street, mainly due to its leadership of the country’s unmanned aircraft systems (UAS) market and also as it has no listed competitors as yet.
ideaForge IPO: Shares to debut on Friday; GMP signals biggest listing day gains of 2023
Shares of India's leading drone maker, ideaForge, are expected to list at a premium of 75-80% on the exchanges on Friday, after commanding a grey market premium of Rs 515 (approx. $7) in the unlisted market. Despite its expensive valuation, the IPO was subscribed 106 times and attracted a strong response from investors, particularly
Share allotment of ideaForge and Cyient DLM expected tomorrow. Here's how you can check status
Shares of ideaForge and Cyient DLM will be allocated on a lottery basis, with retail investors leading the subscription demand . Both firms' IPOs attracted attention after receiving strong investor demand and are set to be listed on July 10. The grey market premium for ideaForge is Rs 480. Cyient DLM fetches a GMP of Rs 390.
Ideaforge IPO subscribed over 50 times on Day 3 of bidding process
The IPO by Indian drone maker Ideaforge has been subscribed over 50 times on the third day, driven by strong demand from retail investors. The non-institutional and qualified institutional buyers' categories were also oversubscribed.
Ideaforge IPO subscription period extended till June 30
Ideaforge, a pioneer in India's drone market, has extended the subscription period for its initial public offering (IPO) by a day. The IPO will now close on June 30 due to a market holiday on Thursday. The public offer has received a strong response from investors, with an overall subscription rate of 28.28 times. Shares are commanding a premium of around Rs 535-550, indicating potential listing gains. The IPO includes a fresh issue of equity shares worth up to Rs 240 crore and an offer for sale of up to 48.6 lakh shares by selling shareholders.
Ideaforge IPO subscribed 6.16x on 2nd day of bidding process; check GMP and other details
India's leading drone maker, Ideaforge, witnessed a subscription of over 13 times on the second day of its initial public offer (IPO) bidding process. Retail investors' category led the robust demand, with a subscription of 36.36 times. The IPO, priced between INR638-672, is expected to raise around INR567 crore, and the company enjoys a commanding 50% market share in the Indian unmanned aircraft systems market.
Ideaforge IPO to close a day earlier on account of market holiday
Due to Bakrid, India's National Stock Exchange (NSE) will remain closed for trading on 30 July. Ideaforge, India's top drone maker, generated a lot of investor interest in the first two days of its IPO and was subscribed 8.58 times overall, with the retail portion 27 times over-subscribed. The company's shares currently command a premium of INR540 ($7.24), indicating big listing gains for investors. Ideaforge's IPO is composed of a fresh issue of shares of up to INR2.4bn and an offer for sale of up to 4.86 million shares.
Ideaforge IPO: GMP soars nearly 80% as issue gets fully subscribed. Here's what brokerages say
The NII part was subscribed 1.89 times so far, while there were no bids from qualified institutional buyers. According to market sources, the company's shares are commanding a premium of Rs 525-530 in the unlisted market, indicating big listing gains for investors if the trends sustain.
Solid Start! Ideaforge IPO fully subscribed within hours of opening on robust retail demand
The robust demand was driven by retail investors, whose category was subscribed 4.38 times. While the non-institutional portion was subscribed 1.03 times, there were no bids yet from qualified institutional buyers.
Taking Stock: IPO mart sees disappointing H1 as listing gains elude investors. What's in store ahead?
The primary market in India has experienced a weak first half with only eight companies launching IPOs, leading to earnings of Rs 5,800 crore. This is an 85% YoY drop compared to the same period in 2018. Inflation uncertainty and high interest rates made investors wary in the opening months, but sentiment picked up towards the close of H1. Mankind Pharma raised Rs 4,300 crore in its IPO, which was the largest issue launched by a drug maker since Gland Pharma in 2017. Analysts predict the remainder of the year will fare better than H1.
Ideaforge IPO opens for subscription. Should you bid?
Drone maker IdeaForge's IPO opened for subscription and was oversubscribed in less than an hour, attracting strong retail investor demand. The company is valued at between Rs638-672 for the issue and is a market leader in India's unmanned aircraft systems sector, with a 50% market share in fiscal year 2022. Despite concerns about negative cash flows and dependence on global vendors, some experts suggest the IPO is available at a reasonable valuation considering potential future growth. Notably, there is huge demand for the shares in the unlisted market, indicating the promising prospect of the Indian drone market.
IdeaForge IPO may be a better fit for long-term investors
The company has a strong presence and expertise in its domain area with proprietary technologies and patents. The landscape for unmanned aircraft systems (UAS) is growing fast in the country and ideaForge stands to benefit given its presence in the B2B defence and civil segments.
Ahead of IPO, Drone maker ideaForge raises Rs 255 crore from anchor investors
Drone maker ideaForge Technology on Friday said it has mobilised Rs 255 crore from anchor investors ahead of its initial share sale that opens for public subscription on Monday.
Load More
