Ideaforge IPO: The IPO of India’s top drone manufacturing company Ideaforge Tech is performing strongly from day one. Today this IPO got fully subscribed within few hours of opening. Along with this, its gray market premium has also increased. Investors can subscribe to this issue till June 29, Thursday. On the first day, there was a flood of 1.75 times in this IPO, in which the retail portion was filled within an hour. At present, 80 per cent gray market premium is going on this stock. That is, on the listing of shares in the first week of July, investors can directly get the benefit of 80 percent.
NII’s stake in IdeaForge’s IPO has been subscribed 1.89 times so far, but there have been no bids from qualified institutional buyers. The company’s premium in the unlisted market is Rs 525 to Rs 530 per share. That is, investors can get a big benefit if the shares are listed. The upper price band in this offer is Rs 672, so if the stock is listed at Rs 530, then 80% profit can be made. However, the gray market is only based on speculation. The price of these shares may differ when they are actually listed. Fresh issue of 240 crore equity shares will be done in this IPO while 48.6 lakh shares will be sold by the shareholders.
How do experts advise?
Swastik Investmart said the company has registered a CAGR growth of 237 per cent but is largely dependent on government contracts. Aggressive investors can invest in these stocks which are given subscription rating. HAM Securities has also recommended to subscribe to the issue.
HDFC Securities believes that this company has entered the US market which is its big achievement. In addition it has a diverse product portfolio. For this reason investment can be made in it. SBI Securities is also positive on the issue and recommends investment. Reliance Securities said that considering the business growth potential and technology potential, investment in this issue can be made.
Similarly, Motilal Oswal said that the company has presence in niche product segment which is its deposit side. In addition, its customer relationships are strong and the industry is difficult to enter. IdeaForge will benefit from the government’s focus on defence. Apart from this, investment in defense stocks is also increasing now.