Ideaforge QIP: Rs 500 crore raised at Rs 795 per share
IDEAFORGE · price
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On the reaction day the stock moved 0.7 pts more than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Ideaforge Technology allotted 62.9 lakh equity shares to qualified institutional buyers at Rs 795 per share via QIP, raising Rs 500 crore. Priced at a 4.89 percent discount to the floor price. Key investors include HDFC Mutual Fund (19 percent), Arohi Emerging India (15 percent), Bandhan funds combined (14 percent), and Franklin India Small Cap Fund (11 percent). Paid-up equity capital now stands at about 4.97 crore shares after the allotment.
Raises Rs 500 crore but causes about 12.7 percent dilution for existing shareholders. Marquee institutional interest is a positive. Stock may see short-term pressure from dilution.