IdeaFroge IPO: Shares of IdeaFroge Limited is expected to list on BSE and NSE soon and the IdeaFroge IPO will hit the market on 26th June 2023 i.e. monday and will close on June 29. With a market share of almost 50% in Fiscal 2022, Ideaforge Technology Ltd. (ITL) is the industry pioneer and undisputed market leader in India’s unmanned aircraft systems (“UAS”) sector. As of Fiscal 2023, it had the largest operational deployment of domestic UAVs throughout India, with an Ideaforge-produced drone taking flight for surveillance and mapping on average every five minutes (Source: 1Lattice Report). IdeaForge IPO grey market premium (GMP) today has declined due to weakness on stock market on Friday. According to market observers, shares of IdeaForge Limited are available at a premium of ₹475 per equity share.
IdeaForge IPO GMP today
According to market observers, IdeaForge IPO GMP today is ₹475, which is ₹25 higher from its yesterday’s GMP of ₹450. Market observers said that IdeaForge IPO GMP has soared today despite sell off in secondary markets on Friday because weakness on Sensex and Nifty was mainly due to global negative cues. Global stocks fell as a result of investors’ worries that actions adopted by central banks to interest rates to combat persistent inflation might trigger recessions and strengthen the US dollar.
What this GMP mean?
Market observers maintained that IdeaForge IPO GMP today is ₹475, which means grey market is expecting that IdeaForge IPO listing price would be around ₹1113 to 1147, which is around 70% higher from IdeaForge IPO price band of ₹638 vto ₹672 per equity share. So, the grey market is signaling that IdeaForge IPO will have a positive listing but it won’t be a whopping premium that a lucky allottee can expect from this Technology stock.
However, stock market experts maintained that grey market is not an ideal indicator about the expected listing premium as it involves even those who have high stake involved with the public issue. They also said that GMP is completely speculative and it is non regulated. So, sometimes GMP of an IPO given artificial appreciation or depreciation as well. So, one should stick to the basics and scan balance sheet and financial details of the company as it gives concrete fundamental picture of the company.
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Updated: 24 Jun 2023, 06:17 PM IST