The robust demand was driven by retail investors, whose category was subscribed 4.38 times. While the non-institutional portion was subscribed 1.03 times, there were no bids yet from qualified institutional buyers.
The NII part was subscribed 1.89 times so far, while there were no bids from qualified institutional buyers. According to market sources, the company s shares are commanding a premium of Rs 525-530 in the unlisted market, indicating big listing gains for investors if the trends sustain.
Ideaforge, India s leading drone maker, has opened its initial public offering (IPO) for subscription with a premium of Rs 460 in the unlisted market. The company is offering shares at Rs 638 to Rs 672 apiece and is looking to raise up to Rs 567 crore. Ideaforge got Rs 254 crore during the IPO s anchor round with participation from marquee investors like Nomura, HSBC, and Goldman Sachs. The company s net offer reserves about 75% for the QIB portion, 15% for non-institutional investors, and 10% for retail investors.