IdeaForge Technology Limited IPO Detail

 

IdeaForge Technology Limited is coming up with Initial Public offering (IPO).The IPO will open for subscription from 26th June 2023 and closed on 29th June 2023. In this post ,will share the detail about IdeaForge IPO.

About The Company :

IdeaForge technology limited is one of the global leaders in UAS (unmanned aircraft systems) Technology. (Source: 1Lattice Report).

IdeaForge had the largest operational deployment of indigenous UAVs across India, with an ideaForge manufactured drone taking off every five minutes for surveillance and mapping on an average.

IdeaForge is ranked 7th globally in the dual-use category (civil and defense) drone manufacturers as per the report published by Drone Industry Insights in December 2022 (Source: 1Lattice Report).

IdeaForge has two main software;

1. BlueFire Live

2. BlueFire Touch

BlueFire Live  - BlueFire Live is a real-time video streaming solution that provides remote users with secured access to an encrypted live-stream of their drones’ video feed. it Works on Open Protocols and can be integrated with popular Video Management Systems (VMS) & Command & Control Centers.

Where is BlueFire Live used?

Border Management , Crowd Monitoring ,Campus Security ,Emergency Response ,Remote monitoring ,Smart city

BlueFire Touch - BlueFire Touch is a Ground Control Software (GCS). It is built to plan and command both mapping and surveillance missions.
BlueFire Touch enhances the flight safety with capabilities such as geo fencing, terrain hugging, terrain avoidance, etc. BlueFire Touch also gives complete control of flight operations and post flight data retrieval to the professional UAV pilot onsite

IdeaForge Technology IPO Details :

IPO Date	Jun 26, 2023 to Jun 29, 2023
Listing Date	7 -July -2023
Face Value	₹10 per share
Price	₹638 to ₹672 per share
Lot Size	22 Shares
Total Issue Size	₹567.00 Cr
Fresh Issue	₹240.00 Cr
Offer for Sale	₹ 327 Cr
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE

Promoter Holding : 

Mr. Ankit Mehta, Mr. Rahul Singh, and Mr. Ashish Bhat are the Promoter of the company. and Promoter Holding is 60.65 %  Pre issue.

Financial of the Company :

Below is the last three years financial for IdeaForge Technology Ltd as per RHP of the company.

Details	FY23	FY22	FY21
Total Revenues	₹196.40 cr	₹161.45 cr	₹36.34 cr
Revenue growth	21.65%	342.76%	122.67%
Profit after tax (PAT)	₹31.99 cr	₹44.01 cr	₹-14.63 cr
PAT Margins	16.29%	27.26%	N.A.
Total Net Worth	₹324.72 cr	₹163.30 cr	₹59.63 cr
RONW (%)	9.85%	26.95%	N.A.
Asset Turnover Ratio (X)	0.40X	0.73X	0.29x
Data Source: Company RHP filed with SEBI

Takeaway - Revenue growth has been consistent and extremely good. Profit margin is also good  and net margins above 16 %. This sector has a great potential so expect revenue growth to continue in future also.

Government also has focus on this sector with a vision of a brighter and more digitally advanced country.

Government announced a product linked incentive of Rs.120 Cr In the union budget 2022-23 presented by finance minister along with The Drone shakti scheme.