Drone maker ideaForge Technology is expected to finalise its IPO share allotment status on Wednesday, July 5.

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Investors who have bid for the IPO can check the allotment status online through the BSE website or the website of the official registrar Link Intime India Private Ltd by following a few steps.

Investors need to visit the BSE website-

https://www.bseindia.com/investors/appli_check.aspx

Once an investor opens the page, here are the steps to follow:

1. Select the equity option and then issue the name 'ideaForge Technology Ltd' from the drop-down box.

2. Either enter the Application Number exactly or PAN (10-digit alphanumeric) number.

After this, an investor needs to enter the Captcha and finally, click on the Search Button.

An investor can also visit the Link Intime registrar website for an update on the IPO allotment status by clicking on the link below:

https://linkintime.co.in/IPO/public-issues.html

After the finalisation of the basis of allotment, the refunds will be initiated on July 6 for investors who did not get the allotment, while shares will be credited to the demat accounts of successful bidders on July 7.

Shares of the company will get listed on the bourses on July 10.

The initial public offering (IPO) of the drone manufacturing company, which was open for subscription during June 26-30, was subscribed over 106 times.

The Rs 570 crore IPO comprised a fresh issue of shares worth Rs 240 crore and an offer for the sale of 48.7 lakh equity shares (including an anchor allocation portion of 37.93 lakh equity shares.

The price band for the IPO was fixed at Rs 638-672 per share.

IdeaForge is a Mumbai-based, vertically integrated firm, which designs and manufactures drones for mapping, security and surveillance applications.

First Published:Jul 5, 2023 9:31 AM IST