ideaForge Technology makes stellar debut; shares list with 94% premium
EW DELHI: Shares of drone maker ideaForge Technology made a strong debut on the stock exchanges on Friday, trading at a significant premium of 94% over its issue price of Rs 672. The stock opened at Rs 1,305.10 on the BSE, representing a substantial increase of 94.21%. On the NSE, it debuted at Rs 1,300, witnessing a sharp uptick of 93.45%.
ideaForge Technology’s initial public offering (IPO), which took place last week, received an overwhelming subscription of 106.05 times. The IPO, valued at Rs 567.24 crore, had a price range of Rs 638-672 per share.
ideaForge Technology, a company based in Mumbai and established in 2007, holds the distinction of having the most extensive deployment of homegrown Unmanned Aerial Vehicles (UAVs) throughout India.
