India’s First Drone Company ideaforge Technology IPO subscribed 13.27 times on Day 2
28th July 2023, Bengaluru: The Indian drone maker company ideaforge Technology IPO was subscribed 13.27 times on the second day of share sale.
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. The grey market is expecting the drone maker to list around Rs 1,217 (Rs 672 + Rs 545), which is 81.10 per cent higher than t...