Forthcoming IPOs: ideaForge And Cyient DLM To Make Their Debut On Dalaal Street outlookindia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from outlookindia.com Daily Mail and Mail on Sunday newspapers.
India s largest drone manufacturing company, IdeaForge Technologies, will open subscriptions for its Rs 567 crore ($76m) initial public offering on 26 June. The IPO will be available for public bidding until 29 June, with the allocation to anchor investors occurring on 23 June. The IPO consists of a fresh issue of equity shares of up to Rs 240 crore and selling shareholders offering 48.6 lakh shares. The funds raised will be used for product development, repayment of indebtedness, and other general corporate purposes.
Drone maker ideaForge Technology on Wednesday said it has fixed a price band of Rs 638 to 672 per share for its Rs 567-crore initial public offering.
The initial share sale will open for public subscription on June 26 and conclude on June 29, according to the company.
The IPO comprises a fresh issue of equity shares worth Rs 240 crore and an offer for sale of 48,69,712 equity shares. The offer also includes a reservation for a subscription by eligible employees.