IdeaForge Technology Limited plans IPO to start offering on 26thth June 2023. The company is a prominent player in the unmanned aerial system (UAS) manufacturing industry. In this article ideaForge technology IPO We review the financial situation, valuation, analysis and conclusions on whether investing in this IPO is a good decision.
Learn more about ideaForge technology IPO
IPO start date | June 26, 2023 |
IPO deadline | June 29, 2023 |
IPO Listing Date | July 7, 2023 |
Kind of problem | Book Built Issue IPO |
face value | 10 rupees per share |
IPO price range | Rs.638 to Rs.672 per share |
lot size | 22 shares |
Minimum order quantity | 22 shares |
exhibition place | BSE and NSE |
total issue size | Rs.567 million |
Latest issue | Rs.240 million |
OFS | Rs. 327 million |
Offer of QIB shares | 75% or more of the offer |
Offer of NII/HNI shares | No more than 15% of the offer |
retail shares sold | No more than 10% of the offer |
employee discount | 32 rupees per share |
IdeaForge Technology Limited RHP Link
About ideaForge Technology Limited
ideaForge Technology Limited was founded in 2007 and has emerged as a prominent player in the UAS manufacturing industry. The company offers a range of drones for mapping, security, surveillance and mining planning and is recognized for its cutting-edge technology and innovative solutions. It holds a large market share in the UAS industry in India, making it an attractive prospect for investors.
What are the financial highlights of ideaForge Technology?
A financial analysis of ideaForge Technology shows that the company has experienced impressive growth in recent years. Total assets increased consistently reaching Rs 487.9 million in FY2023. Total revenue increased significantly reaching Rs 196.4 crore. Furthermore, the company successfully turned from a loss to a profit, reporting a profit of Rs 320 billion in FY2023. These positive financial metrics reflect the company’s continued growth and profitability potential.
Fiscal year end/end (amounts in billions) | ||||
detail | 2020 | 21st year | 22nd year | 23rd year |
---|---|---|---|---|
Total assets | 79.8 | 123.7 | 222.3 | 487.9 |
gross income | 16.3 | 36.3 | 161.5 | 196.4 |
Profit after tax | -13.5 | -14.6 | 44.0 | 32.0 |
Profit % | -82.41% | -40.26% | 27.26% | 16.29% |
How would you rate ideaForge Technology Ltd’s IPO?
Ideaforge Technology IPO price range from Rs 638 to Rs 672 per share
- Taking into account last year’s 2022 EPS was Rs 8.12, the P/E ratio is 83x.
- Considering the weighted EPS of Rs 7.6 over the last 3 years, the PER is 88x.
- Publicly traded peers such as Data Patterns India Limited trade at 73x (highest) and Astra Microwave Products at 44x (lowest), with an industry average of 58x.
- Therefore, the ideaForge IPO stock price is overpriced at 83x to 88x P/E.
ideaForge technology IPO dates
IPO start date | Monday, June 26, 2023 |
IPO deadline | Thursday, June 29, 2023 |
Basis for allocation | Tuesday, July 4, 2023 |
Initiate refund | Wednesday, July 5, 2023 |
Credit of shares to Demat | Thursday, July 6, 2023 |
Listing date | Friday 7 July 2023 |
UPI Obligation Verification Deadline Time | June 29, 2023 at 5:00 PM |
What is ideaForge IPO GMP today?
The Gray Market Premium (GMP) for IdeaForge Technology IPO is currently between Rs 450 and 500.
Positive Factors of Investing in ideaForge Technology IPO
- Market leadership: ideaForge Technology Limited holds a significant market share in the UAS industry in India and is well positioned to take advantage of the growth in this sector.
- Superior technology: The company’s state-of-the-art drones with advanced features are gaining traction across multiple industries, making ideaForge a preferred choice for clients.
- Diverse range of applications: ideaForge’s UAS caters to different sectors, ensuring multiple revenue streams and expansion potential.
- Solid financial performance: By expanding its assets, increasing its earnings and moving towards profitability, ideaForge has demonstrated its ability to generate favorable returns for its investors.
What are the risk factors associated with the ideaForge IPO?
- Uncertainty of future orders: While ideaForge is experiencing increased revenue and strong orders, future orders may fluctuate, impacting the company’s earnings and growth prospects.
- Working capital gap: The company faces significant working capital shortfalls and failure to secure additional funding could adversely affect its operations and financial performance.
- Losses in the past: ideaForge suffered losses in FY2020 and FY21
Is an ideaForge Technology IPO good?
You may be wondering if you should buy the IdeaForge Tech IPO.
- ideaForge Technology’s IPO presents an attractive investment opportunity given its strong financial performance, market leadership, and technological excellence.
- However, potential risks such as future order uncertainty and past losses should be carefully considered. Additionally, the relatively high valuation of the IPO price range should also be considered.
- I would be thrilled if an IPO like this was available at a low price. High-risk investors can invest in such IPOs with a long-term perspective.
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