Ideaforge Technology Allocates 62.89 Lakh Equity Shares Under QIP Issue

Allotment Details

Ideaforge Technology has successfully allotted a total of 62,89,308 equity shares to qualified institutional buyers, with each share priced at Rs 795. This price reflects a discount of Rs 40.86 per share, which accounts for 4.89% of the determined floor price, as per the SEBI ICDR Regulations, resulting in a premium of Rs 785 per share.

The total capital raised through this Qualified Institutional Placement (QIP) issue amounts to Rs 500 crore.

Impact on Equity Capital

Following the allotment of these equity shares, the paid-up equity share capital of Ideaforge Technology has increased to Rs 496,855,970. The company now has a total of 49,685,597 equity shares in circulation.

This financing move is aimed at enhancing the company’s growth prospects and supporting its strategic initiatives.

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