Indian drone maker Ideaforge's initial public offering (IPO) saw overwhelming response from investors, with the issue subscribed 106 times. The IPO received strong interest from retail individual investors, qualified institutional buyers, and non-institutional investors. Despite concerns about the company's aggressive pricing and working capital gap, analysts recommended subscribing to the IPO due to Ideaforge's commanding position in the drone market and potential applications across industries. The IPO includes a fresh issue of equity shares and an offer for sale by selling shareholders, with the company planning to raise up to INR 567 crore ($76 million).
