Ideaforge Technology IPO
Ideaforge Technology Limited (IDEAFORGE) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 07 July 2023.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +81.4% (likely range +28% to +127%), day's high +110.8%, chance of a gain 97%. Actual: +93.5% at the open, +100.0% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 25,28,596 | 31,81,11,376 | 126x | |
| NII (HNI) total | 12,64,297 | 10,18,81,384 | 80.6x | |
| Big NII (above ₹10 lakh) | 8,42,864 | 6,91,07,412 | 82.0x | |
| Small NII (₹2-10 lakh) | 4,21,433 | 3,27,73,972 | 77.8x | |
| Retail | 8,42,865 | 7,18,15,238 | 85.2x | |
| Employees | 13,112 | 12,67,332 | 96.7x | |
| Total | 46,48,870 | 49,30,75,330 | 106x |
Bids on NSE and BSE together, as published by NSE, as of 30 Jun 2023, 07:00 PM. Shares offered exclude the anchor portion. 13% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Ideaforge Technology's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Sigachi IndustriesNov 2021 | 86.5x | 172x | 80.5x | 102x | ₹125 Cr | +249.7% | +267.2% |
| CSB BankNov 2019 | 62.2x | 165x | 44.5x | 86.9x | ₹410 Cr | +41.0% | +57.3% |
| Dreamfolks ServicesAug 2022 | 70.5x | 37.7x | 43.7x | 56.7x | ₹562 Cr | +56.0% | +68.4% |
| Krsnaa DiagnosticsAug 2021 | 49.8x | 116x | 42.0x | 64.4x | ₹1,215 Cr | +5.4% | +15.3% |
| Devyani InternationalAug 2021 | 95.3x | 213x | 39.5x | 117x | ₹1,838 Cr | +56.6% | +56.6% |
| Burger King IndiaDec 2020 | 86.6x | 354x | 68.2x | 157x | ₹811 Cr | +87.5% | +125.0% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| JM Financial | 109 | +22.8% | 75% |
| IIFL Securities | 94 | +19.3% | 71% |
Offer documents (NSE)
Frequently asked
What is the Ideaforge Technology IPO price band and lot size? ₹638–672 per share, with a lot of 22 shares, so the smallest retail bid is ₹14,784.
How many times has it been subscribed? 106x overall: QIB 126x, NII 80.6x, retail 85.2x, employees 96.7x.
How did it list? It opened at ₹1,300, +93.5% against the issue price of ₹672, and closed its first day +92.7%.
