Ideaforge Technology IPO Details Issue Price, Date, News, Allotment Status, GMP, Link, Updates

Ideaforge Technology IPO Company Profile:

Ideaforge Technology Limited is the pioneer and the pre-eminent market leader in the Indian unmanned aircraft systems (“UAS”) market, with a market share of approximately 50% in Fiscal 2022. The company had the largest operational deployment of indigenous UAVs across India, with an ideaForge-manufactured drone taking off every five minutes on average for surveillance and mapping during the nine months that ended December 31, 2022. The customers have completed over 300,000 flights using its UAVs as of December 31, 2022. The company ranked 7^th globally in the dual-use category i.e. civil and defense, drone manufacturers as per the report published by Drone Industry Insights in December 2022.

Ideaforge Technology IPO Product Portfolio:

Hardware:

 

Ideaforge Technology Limited’s manufacturing facility is situated in Navi Mumbai, Maharashtra, and has an area of approximately 21,000 sq. ft., and is equipped with advanced equipment, and modern technology with automation systems and has the ability to manufacture a wide range of products. This facility is in compliance with ISO 9001:2015 requirements and is also equipped with a testing center that houses an environmental stress screening (“ESS”) chamber and a vibration table.

Ideaforge Technology IPO Details:

Ideaforge Technology IPO Financial Analysis:

Ideaforge Technology IPO Revenue from Operations:

Ideaforge Technology IPO Major Shareholders:

Ideaforge Technology IPO Offer for Sale Details:

Ideaforge Technology IPO Offer for Sale Details:

S. No.	Name of the Selling Shareholder	Number of Equity Shares being offered in the Offer for Sale (Up to)
1.	Ashish Bhat		158,200 Equity Shares
2.	Amarpreet Singh		8,362 Equity Shares
3.	Nambirajan Seshadri		22,600 Equity Shares
4.	Naresh Malhotra		22,600 Equity Shares
5.	Sujata Vemuri		203,400 Equity Shares
6.	Sundararajan K Pandalgudi		51,980 Equity Shares
7.	A&E Investment LLC		135,600 Equity Shares
8.	Agarwal Trademart Private Limited		53,200 Equity Shares
9.	Celesta Capital II Mauritius		1,106,722 Equity Shares
10.	Celesta Capital II-B Mauritius		131,758 Equity Shares
11.	Export Import Bank of India		202,044 Equity Shares
12.	Indusage Technology Venture Fund I		1,695,000 Equity Shares
13.	Qualcomm Asia Pacific Pte. Ltd.		1,055,646 Equity Shares
14.	Society for Innovation and Entrepreneurship		22,600 Equity Shares

Ideaforge Technology IPO Strengths:

• Ideaforge Technology Limited is the pioneer and the pre-eminent market leader in the Indian UAS market, with a market share of approximately 50% in Fiscal 2022. The Promoters of the company built their first quadrotor drone in 2004. The company started its operations in 2007 and with a first-mover advantage, it is among the first few companies in India to enter the UAV market and the first organisation to indigenously develop and manufacture VTOL UAVs in India in 2009.
• The growth in the company’s customer base is led primarily by stringent quality checks, technical specifications, and its ability to supply in a timely manner and the resultant reputation. The sales and business development team works closely with the customers and provides the customers with a wide range of support plans suited to their needs, which includes 24×7 support and replacement UAV options. The company constantly strives to innovate and offer value-added and technologically advanced products and solutions to customers..
• Ideaforge Technology Limited is a vertically integrated company equipped with an in-house product development centre, which allows it to design, develop, engineer and manufacture its UAVs. The focus on product development has been instrumental in the growth of its business and in improving its ability to customize solutions for the customers as well as in reducing the cost of products while maintaining the margins.

• Ideaforge Technology Limited’s growth in revenue and profitability can be credited to its robust product portfolio and technology differentiation, which it achieves through continuous product development, and streamlining of the operational activities
• Ideaforge Technology Limited has one of the best support networks in India for UAVs. In addition to the warranty services that the company provides with the UAVs, it also provides after sales maintenance services to the customers. Its support care plan, the ideaForge Care plan, is one of the first-of-its-kind subscription based support package in the Indian UAV industry. The support care plan, ideaForge Care, provides customers with a wide range of support plans suited to their needs, which includes 24×7 support and replacement UAV options. While the UAVs are mission oriented and require minimal training, the company provides its customers with the basic training required for operating the UAVs and for familiarizing them with its UAVs’ functionality.
• Ideaforge Technology Limited is led by a qualified and experienced management team, who are supported by a capable and motivated team of managers and other employees. The Promoters have knowledge and understanding of the drone industry in India. The Promoters, Ankit Mehta, Rahul Singh, Ashish Bhat, the Chief Financial Officer, Vipul Joshi and the Vice President – Sales and Business Development, Vishal Saxena, are involved in the strategic planning, operations, design and production development, and have a cumulative work experience of more than 85 years.

Ideaforge Technology IPO Risk Factors:

• Ideaforge Technology Limited operates in an industry which is highly regulated and is subject to change. If it fails to comply with the applicable regulations and rules prescribed by the Government of India and the relevant statutory or regulatory bodies, the business, financial condition, cash flows and results of operations of the company will be adversely affected.
• Ideaforge Technology Limited is a licensed manufacturer of Unmanned Aerial Vehicles under the Industries (Development and Regulation) Act, 1951 and any non-compliance of, or a failure to satisfy the terms and conditions under such license could lead to the cancellation of its license thereby creating a material adverse impact on the business, financial condition and results of operations of the company.
• Ideaforge Technology Limited is heavily reliant on sales to the Indian government including to the central and state government agencies. A decline in the government budget, reduction in orders, termination of existing contracts, delay of existing contracts or any kind of adverse change in the Government of India policies for the sector would have a material adverse impact on the business, financial condition, and results of operations.
• Majority of the sale of the products is dependent on Ideaforge Technology Limited winning bids. Bidding for a tender involves various management activities such as cost estimations and designing and developing a trial product for the bidding process. Inability to accurately measure the cost and design and develop the trial product may lead to loss of tender creating an adverse impact on the business, results of operations, financial condition and cash flows of the company.
• Ideaforge Technology Limited is highly dependent on global vendors for the supply of components and may not be able to reduce its dependency on such imports. If critical components or raw materials become scarce or unavailable, then it may incur delays in manufacturing and delivery of its products and in completing its development programs, which could damage its business. Moreover, the supply and cost of components can be subject to significant variation due to factors beyond the company’s control.

Ideaforge Technology IPO Objects of the Offer:

Ideaforge Technology Limited proposes to utilize the Net Proceeds towards funding the following objects:

• Repayment/prepayment of certain indebtedness availed by the Company;
• Funding working capital requirements;
• Investment in product development; and
• General corporate purposes.

Ideaforge Technology Limited IPO Prospectus:

• Ideaforge Technology Limited IPO DRHP- https://www.sebi.gov.in/filings/public-issues/feb-2023/ideaforge-technology-limited-drhp_68081.html
• Ideaforge Technology Limited IPO RHP-

Registrar to the offer:

Link Intime India Private Limited

Tel: +91 810 811 4949

E-mail: ideaforge.ipo@linkintime.co.in

Website: www.linkintime.co.in

Investor grievance e-mail: ideaforge.ipo@linkintime.co.in

Contact person: Shanti Gopalkrishnan

SEBI Registration No.: INR000004058

 

Ideaforge Technology IPO FAQ