On Friday, Ideaforge Technology Limited had a sensational stock market debut. The stock’s NSE listing price of 1,300 was almost 90% more than its initial issue price of 672. The business, which appeared in the well-known Bollywood film “3 Idiots,” made its initial public offering last month to a roaring reception.

The Investment: At the issue price of 672/share, you could have purchased 22 shares with an investment of 14,784 in Ideaforge’s IPO. Investors who wished to subscribe to the Ideaforge IPO had to purchase a minimum of 1 lot, which had a lot size of 22 shares.

Given the current market price of 1,300 per share, if you did that and were fortunate enough to receive the allotment, those shares would be worth 28,600 today. 93% of your money was returned, which is a sizable amount.

Background: IIT Bombay alumnus formed Ideaforge Technology, which creates and produces drones for mapping, security, and surveillance applications. Ideaforge became the first drone firm to issue a main board IPO with the company’s IPO, which intended to raise 576 crore.

An astounding 106.06 times oversubscription was observed for the IPO. Following are the oversubscription ratios for various investor categories in the IdeaForge Technology IPO: Employee reserved shares were oversubscribed by 96.65 times, institutional investors by 125.81 times, non-institutional investors by 80.58 times, retail investors by 85.20 times.

Price Movement: Ideaforge’s share traded at $1,289.75 at the time of writing, down 0.79% from the IPO price.

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