The initial public offering (IPO) of IdeaForge Technology has garnered significant interest, indicating a promising start for the company.
Market analysts predict that the company’s shares may be listed on the exchange this Friday at a considerable premium, offering potential gains for investors.
Shares Expected to List at 75-80% Premium
According to market experts, IdeaForge Technology’s shares, currently trading at a premium of Rs 515 in the unlisted market, are projected to be listed with a premium of 75-80%.
This information is derived from a report in the Economic Times.
However, it’s important to note that gray market premiums fluctuate rapidly and represent the shares’ status in the unlisted market.
IPO Subscription Reaches Impressive 106 Times
The IPO of IdeaForge Technology has witnessed remarkable demand, with a total subscription of 106.06 times.
Retail investors have shown substantial interest, as the retail quota was oversubscribed by 85.20 times.
Non-institutional investors also displayed strong participation, with a subscription rate of 80.58 times.
Qualified institutional buyers subscribed at an impressive rate of 125.81 times, while employees’ quota reached a subscription rate of 96.65 times.
The IPO subscription period ran from June 26 to June 30.