Marquee buyers who participated within the anchor ebook of the unmanned plane system producer embrace Pinebridge Global Funds, Nomura Funds, Ashoka India Equity Investment Trust Plc, HSBC Mutual Fund, Goldman Sachs Funds and Carmignac Portfolio.

ideaForge Technology mopped up Rs 254.88 crore from 31 anchor buyers on June 23, forward of the preliminary public providing (IPO) launch subsequent week.

The drone manufacturing firm knowledgeable exchanges that it has finalised the allocation of 37.92 lakh fairness shares to anchor buyers at Rs 672 per share, the upper finish of the worth band.

Marquee buyers who participated within the anchor ebook of the unmanned plane system producer embrace Pinebridge Global Funds, Nomura Funds, Ashoka India Equity Investment Trust Plc, HSBC Mutual Fund, Goldman Sachs Funds and Carmignac Portfolio.

Among others, Tata AIA General Insurance Company, ICICI Prudential Mutual Fund, Invesco India, Axis Mutual Fund, HDFC Mutual Fund, Nippon Life India, Aditya Birla Sun Life Trustee, Quant Mutual Fund and Max Life Insurance additionally invested within the firm through anchor ebook.

ideaForge will open its maiden public challenge on June 26, with a value band of Rs 638-672 per share. The cut-off date can be June 29.

The firm is planning to boost Rs 567 crore through public challenge on the higher value band, which includes a recent issuance of shares value Rs 240 crore and a proposal on the market of 48.69 lakh shares by promoters and buyers.

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The compensation of money owed, working capital necessities and funding in product growth are the principle aims of the recent challenge, apart from basic company functions.

The firm has reserved 75 p.c of the provide dimension for certified institutional consumers, 15 p.c for top networth people and the steadiness 10 p.c for retail buyers.

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