IPO watch: Two main board public issues ideaForge Technology, Cyient DLM to open next week. GMP, price, other details
IPO watch: Two major initial public offerings (IPOs) – ideaForge Technology IPO and Cyient DLM IPO – are hitting the primary market next week. The upcoming IPO was worth it ₹1159 crore with ideaForge aiming to raise IPO ₹567 crore and aims to generate Cyient DLM IPO ₹592 crore from the initial offer. The two upcoming IPOs are planning to list on BSE and NSE and shares of both the companies are available for gray market trading today. According to market observers, ideaForge Technology Ltd shares are available in the gray market today at a premium ₹500 per share but Cyient DLM share price is available at a premium ₹110 per share premium in the gray market today.
Here we list complete GMP, other details of ideaForge Technology IPO and Cyient DLM IPO:
ideaForge IPO details: The public issue of ideaForge Technology Ltd is to be opened on 26 June 2023 ie Monday next week. The public issue will remain open for tender until 29 June 2023 ie. until Thursday. The drone maker company has set the IPO price of ideaForge Technology at ₹638 to ₹672 per equity share. According to market watchers ideaForge IPO is GMP (grey market premium) today ₹500, which means that gray market is expecting about 75 percent subscription gain from the public issue while the public issue is yet to be opened for bidding.
A drone maker company has already risen ₹255 crore from anchor investors. ideaForge Technology said on Friday that it raised ₹255 crore from anchor investors ahead of the initial share sale that opens for public subscription on Monday.
Cyient DLM IPO Details: The public issue of Cyient DLM Limited is to be opened for subscription on 27 June 2023 ie Tuesday next week. The public offer will remain open until 30 June 2023 ie. until Friday next week. The Electronics Manufacturing Services (EMS) company has a fixed price band for its public offering at ₹250 to ₹265 each. According to market observers, Cyient DLM IPO is GMP (grey market premium) today ₹110 per equity share, which means that gray market is expecting about 40 per cent of the subscription premium from the public offer when it is yet to be opened for subscription.
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Updated: 24 June 2023, 11:17 AM IST
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