{"id":1601,"date":"2023-02-13T15:42:58","date_gmt":"2023-02-13T10:12:58","guid":{"rendered":"https:\/\/www.eqwires.com\/tutorials\/?p=1601"},"modified":"2023-02-13T15:42:59","modified_gmt":"2023-02-13T10:12:59","slug":"drone-maker-ideaforge-files-for-ipo-a-side-by-side-look-vs-droneacharyas-bumper-ipo-issue-size-more","status":"publish","type":"post","link":"https:\/\/www.eqwires.com\/tutorials\/drone-maker-ideaforge-files-for-ipo-a-side-by-side-look-vs-droneacharyas-bumper-ipo-issue-size-more\/","title":{"rendered":"Drone maker ideaForge files for IPO: A side-by-side look vs DroneAcharya\u2019s bumper IPO; issue size, more"},"content":{"rendered":"\n

Drone maker ideaForge Technology filed papers with capital markets regulator Sebi to raise capital via an initial public offering. The drone designer and manufacturer boasted of approximately 50% market share in Indian unmanned aircraft systems. The IPO comprises fresh issues of shares worth Rs 300 crore as well as an offer-for-sale (OFS), with the promoters and shareholders offloading 48.7 lakh shares with a face value of Rs 10 each. The proceeds from its fresh issuance to the tune of Rs 50 crore will be utilized for repayment\/prepayment of certain debts, Rs 135 crore will be towards funding working capital requirements, and Rs 40 crore for investment in product development and general corporate purposes.<\/p>\n\n\n\n

ideaForge Technology\u2019s products and services range from UAVs, batteries, and communication systems to drone-related software and solutions, catering to customers’ applications for surveillance, mapping, and surveying. The firm\u2019s debut on the bourses would be the first-ever listing of a drone manufacturing company. JM Financial and IIFL Capital are the book-running lead managers for the Infosys and Qualcomm-backed companies.<\/p>\n\n\n\n

Over the last three years, ideaForge\u2019s revenue from operations grew at 237.48% CAGR, and the company turned profitable in Q2FY23, driven by sales to the Indian defense sector. A 1Lattice Report referenced in the DRHP estimated that the drone industry is worth $21 billion, growing at a 20% CAGR. India\u2019s drone industry seeks to establish itself as an important drone hub by 2030.<\/p>\n\n\n\n

Drone startup DroneAcharya Aerial Innovations was listed on BSE SME platform in December 2022, listing at a bumper premium of 90%. DroneAcharya stock made its market debut at Rs 102 on the BSE, as compared to the public issue price of Rs 54. The scrip shortly after that rose to Rs 107 per share, up 98%. DroneAcharya\u2019s issue size was approximately 12.5% of ideaForge\u2019s issue size, clocking in at fresh issues of Rs 34 crore. The aerial innovations company provides a high-end ecosystem of drone solutions, such as training, surveys, data processing, and surveillance.<\/p>\n\n\n\n

FY22 Revenue<\/strong>
DroneAcharya: <\/strong>Rs 3.59 crore
ideaForge Technologies: <\/strong>Rs 1,59.43 crore<\/p>\n\n\n\n

FY22 Profit<\/strong>
DroneAcharya: <\/strong>Rs 40.65 lakhs
ideaForge Technologies: <\/strong>Rs 44 crore<\/p>\n\n\n\n

Fresh Issue<\/strong><\/p>\n\n\n\n

DroneAcharya: <\/strong>Rs 34 crore
ideaForge Technologies: <\/strong>Rs 300 crore<\/p>\n\n\n\n

OFS<\/strong>
DroneAcharya: <\/strong>Nill
ideaForge Technologies: 4,869,712 shares<\/p>\n\n\n\n

Board<\/strong>
DroneAcharya: <\/strong>SME Board
ideaForge Technologies: <\/strong>Main Board<\/p>\n\n\n\n

However, in its DRHP, ideaForge did not mention DroneAcharya among its peers. \u201cThere are no listed companies that exclusively undertake the manufacturing of drones. Hence, basis factors such as the scale of the business, exposure to the defense sector, manufacturing of electronics products, a proxy set of listed peers of MTAR Technologies Limited, Data Patterns (India) Limited, and Astra Microwave Products Limited have been identified for our Company,\u201d stated the Mumbai-based drone manufacturer.<\/a><\/p>\n\n\n\n

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Drone maker ideaForge Technology filed papers with capital markets regulator Sebi to raise capital via an initial public offering. The drone designer and manufacturer boasted of approximately 50% market share in Indian unmanned aircraft systems. The IPO comprises fresh issues of shares worth Rs 300 crore as well as an offer-for-sale (OFS), with the promoters and shareholders offloading 48.7 lakh shares with a face value of Rs 10 each. The proceeds from its fresh issuance … Continue reading “Drone maker ideaForge files for IPO: A side-by-side look vs DroneAcharya\u2019s bumper IPO; issue size, more”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":1604,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[201,172,136,138,134,164,217,368,139,140,324,106,272,266,98,72,97,184,73,268,135,137,133,330,104,141,299,161,160,159,74,75,210,158,166,311,228,227,103,254,102,224,257,298,300,101,105,301,165,327,329,76,77,78,79,247,365,308,361,363,215,216,174,80,81,99,218,82,340,339,320,183,168,167,170,251,83,84,85,86,87,108,88,202,155,154,273,89,100,90,91,92,93,94,95,236,255,385,232,231,250,96,3,260,252,248,249,322,107,192,220,360,275,223,156,157,341,246,238,207,177,176,175],"tags":[4,5,267,6,200,7,12,116,19,149,147,173,145,14,118,11,150,153,265,120,9,271,190,191,13,188,18,318,8,185,316,10,17,269,148,151,146,15,331,319,16,122,144,162,23,41,25,24,27,21,194,50,312,229,226,124,33,253,126,225,119,20,258,28,297,49,127,315,121,230,295,125,115,22,113,29,328,333,317,332,334,314,52,123,131,348,366,357,309,310,359,362,354,349,351,364,213,26,182,111,130,31,62,34,30,42,219,57,112,186,169,56,171,64,132,206,59,53,264,128,43,336,242,237,51,110,32,187,35,55,44,270,288,196,47,37,195,45,39,36,40,203,38,143,152,129,142,46,48,63,67,60,61,65,234,71,235,54,256,117,386,233,68,193,241,335,205,261,263,209,262,337,244,66,204,70,109,259,221,291,274,222,163,69,58,342,239,208,114,178,181,179,180,290],"class_list":["post-1601","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accurate-stock-tips-provider-in-india","category-best-advisory-service-provider-for-beginners","category-best-bank-nifty-future-calls","category-best-bank-nifty-options-tips-provider","category-best-bank-nifty-trading-tips-provider","category-best-equity-advisory-services-in-india","category-best-ethical-investment-advisor-in-india","category-best-financial-advisor-websites-in-india","category-best-index-future-services","category-best-index-options-services","category-best-intraday-advisor-in-india","category-best-intraday-call-provider","category-best-intraday-jackpot-calls","category-best-intraday-research-company","category-best-intraday-tips-for-tomorrow","category-best-intraday-tips-provider-in-india","category-best-intraday-tips-site","category-best-intraday-tips-website-in-india","category-best-investment-advisor-in-india","category-best-jackpot-tips-provider","category-best-nifty-future-calls","category-best-nifty-options-tips-provider","category-best-nifty-trading-tips-provider","category-best-option-trading-telegram-channel","category-best-options-tips-provider-in-india","category-best-options-trading-tips-provider-in-india","category-best-paid-stock-recommendation-sites-india","category-best-performing-pms-in-india","category-best-pms-in-india","category-best-portfolio-management-services-in-india","category-best-sebi-registered-advisory-company","category-best-sebi-registered-investment","category-best-sebi-registered-investment-advisor","category-best-sebi-registered-research-analyst","category-best-sebi-registered-stock-tips-provider","category-best-sebi-registered-telegram-channel","category-best-share-market-advisor-in-india","category-best-share-market-advisory-company-in-india","category-best-share-market-consultants-in-india","category-best-share-market-tips","category-best-share-market-tips-provider-in-india","category-best-share-tips-provider-in-india","category-best-stock-advisor","category-best-stock-advisor-websites-in-india","category-best-stock-advisory-service-in-india","category-best-stock-market-advisory-services-in-india","category-best-stock-market-tips-provider-service","category-best-stock-recommendation-service-in-india","category-best-stock-tips-provider-in-india","category-best-stock-tips-provider-in-telegram","category-best-telegram-channel-for-stock-market-tips-in-india","category-business","category-commodity-market","category-currency","category-equity-market","category-equity-research-analyst","category-eqwires-best-investment-advisor-in-india","category-eqwires-best-sebi-registered-investment-advisor-in-india","category-eqwires-best-stock-advisor-websites-in-india","category-eqwires-most-successful-stock-advisors-in-india","category-ethical-sebi-registered-investment-advisor","category-ethical-sebi-registered-research-analyst","category-fact-about-operator-based-calls","category-fii-based-calls","category-foreign-markets","category-free-intraday-stock-tips-for-tomorrow","category-genuine-intraday-tips-provider","category-genuine-stocks-tips-provider","category-googles-highest-ranking-sebi-registered-research-analyst","category-googles-highest-ranking-sebi-registered-stock-advisory-company","category-high-accuracy-intraday-tips","category-how-can-i-make-profit-in-intraday-trading","category-how-to-earn-profit-from-intraday-trading","category-how-to-invest-in-stock-market","category-how-to-make-profit-in-intraday-trading-in-share-market","category-intraday-tips","category-intraday-trading-ti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