New Delhi: Ideaforge’s IPO has opened for investors in the market on Friday. The stock of this company has gained momentum since Friday morning. The drone manufacturer company has made a strong entry in the market. Today its IPO has been listed on BSE.

The company had fixed a price band of Rs 672. The investors of this company have made huge profits. Now there is a profit of Rs 633.10 on each share. This means that now the company is earning a profit of 94.21 percent.

The company’s stock was listed at Rs 1,305.10 on BSE with a gain of 94.21 per cent. At the same time, its stock opened at Rs 1,300 on the NSE. It saw a rapid increase of 93.45 percent.

The company made tremendous profit

The drone maker company opened an IPO of Rs 567 crore between June 26 and June 30. In this, shares worth Rs 240 crore were issued. The rest of the shares were opened by the company for offer for sale. The company has received a very good response from the investors.

The company has received a total subscription of 106.06 times. It got 125.82 times to qualified institutional investors and 80.58 times to non-institutional investors. With this, retail investors have invested 80.58 times.

The company will use the proceeds from this IPO to purchase drones, capital expenditure and for general corporate purposes.

Company Profile

This company is located in Mumbai. It was established in 2007. It has the largest operational deployment of indigenous Unmanned Aerial Vehicles (UAVs) across India. It is backed by several private equity investors in the company such as Qualcomm Asia, Infosys and Celesta Capital. Its clients include Armed Forces, Central Armed Police Forces, State Police Departments, Disaster Management Forces, Forest Departments.

Rahul Dev

Cricket Jounralist at Newsdesk

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