ideaForge Raises ₹500 Cr Via QIP; Allots 62.9 Lakh Shares

Listed dronetech company ideaForge closed its qualified institutional placement (QIP) on Friday (July 10), raising ₹500 Cr from a clutch of institutional investors. The fundraising committee approved the issue and allotment of around 62.89 Lakh equity shares to eligible qualified institutional buyers (QIB) at an issue price of ₹795 per share. The company issued the new equity shares 5% lower than the floor price of ₹835.8 announced when the company launched the QIP on July 7 .