IdeaForge IPO has received a spectacular response from retail investors. The company’s issue has been commanding a premium of over ₹450 in the grey market. The company will use the IPO proceeds to repay debt, fund working capital requirements, invest in product development etc. AdvertisementCategory No of times subscribed QIBs 0 Non institutional investors 1.51 Retail 5.5 Total 1.43AdvertisementThe ₹567 crore initial public offer of drone company IdeaForge was fully subscribed within a few hours of opening on Monday, June 26. The issue that opened at 9:00 am was subscribed 1.4 times over as of 1:00 pm.The IPO has received spectacular response from retail investors as the retail portion, at the time of publishing, has been subscribed five times over.

Source: Economic Times June 26, 2023 10:44 UTC