Ideaforge, a leading Indian drone maker, saw its initial public offer (IPO) subscribed 54.18 times on the last day of bidding. The issue received bids for 25,19,20,240 shares against an issue size of 46,48,870 shares. Qualified institutional buyers subscribed to the IPO 40.46 times, while non-institutional investors and retail individual investors subscribed 69.36 times and 72.24 times, respectively. Despite concerns over the aggressive pricing and working capital gap, analysts recommended subscribing to the IPO due to the company's niche position and strong outlook. The IPO includes a fresh issue of equity shares worth Rs 240 crore and an offer for sale of up to 48.6 lakh shares.
