Ideaforge Technology is set to finalise the allotment of IPO shares by July 5, following an overwhelming response to its public issue.
Here’s a step-by-step guide on how to check your IPO allotment status online on the BSE website:
- Step 1: Head to the BSE website.
- Step 2: Choose ‘Equity’ and the Issue Name ‘Ideaforge Technology Limited’.
- Step 3: Input either your ‘Application Number’ or ‘PAN’.
- Step 4: Check the box that is labelled “I am not a robot” and click the ‘Search’ button.
You can also head to the IPO registrar’s portal (Link Intime) to check your allotment status. Here’s how:
- Step 1: Head to the Link Intime portal.
- Step 2: Select the Issue Name ‘Ideaforge Technology Limited – IPO’.
- Step 3: Choose and enter either ‘PAN’, ‘Application Number’, or ‘DP Client ID’.
- Step 4: Click the ‘Search’ button.
Equity shares will be transferred to successful investors’ demat accounts by July 7, and refunds will be credited to unsuccessful participants’ bank accounts from July 6. The drone manufacturing company is set to debut on the BSE and NSE on July 10.
Get Ring The Bell, Benzinga India’s weekly briefing. Designed specifically for investors like you.
High Demand: The Ideaforge IPO shares are in high demand in the grey market, trading at a premium of 75-80% over the expected final issue price of ₹672 per share. The IPO of India’s largest unmanned aircraft systems manufacturer, with over 50% market share in FY22, was subscribed 106.06 times.
The ₹567 crore public issue comprised a fresh issue of ₹240 crore worth of shares and an offer for sale of 48.69 lakh shares. The company will use the net proceeds for repaying debts, working capital requirements, product development, and general corporate purposes.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.