IdeaForge Technology Limited, an Indian drone manufacturer, recently went public with its initial public offering (IPO). According to reports, the grey market premium (GMP) for IdeaForge IPO surged nearly 80% as the issue got fully subscribed, and the current GMP is nearly 80% higher than the upper end of the offer price at Rs 672 [1][2]. As of June 26, 2023, the GMP for IdeaForge Technology IPO is ₹485, according to market observers [2].
The issue price band for the IPO is set at Rs 638-672 per share, and IdeaForge shares were being traded with a massive 70-75% grey market premium of Rs 490 on June 26, 2023 [3].
I hope this information helps. Let me know if you have any further questions.
Sources:
- https://economictimes.indiatimes.com/markets/ipos/fpos/ideaforge-ipo-gmp-soars-nearly-80-as-issue-gets-fully-subscribed-heres-what-brokerages-say/articleshow/101276836.cms
- https://www.livemint.com/market/ipo/ideaforge-ipo-opens-today-gmp-date-review-other-details-apply-or-avoid-11687746564007.html
- https://www.businesstoday.in/visualstories/stock/ideaforge-rs-567-crore-ipo-opens-check-price-band-gmp-subscription-status-see-the-journey-of-iit-bombay-alumni-founded-company-44983-26-06-2023