IdeaForge IPO: Tất cả những gì bạn cần biết về nhà sản xuất máy bay không người lái hàng đầu của Ấn Độ

IdeaForge IPO: Tất cả những gì bạn cần biết về nhà sản xuất máy bay không người lái hàng đầu của Ấn Độ

Nút nguồn: 2645236

IdeaForge Technology has filed its draft red herring prospectus (DRHP) with capital market regulator SEBI and has received approval to launch its IPO. IdeaForge IPO draft document is a treat to read and has several interesting aspects of the business. IdeaForge IPO date is not known yet but the IPO sắp tới will surely be an interesting development to watch. Here are some major highlights on IdeaForge IPO from DRHP.

IdeaForge IPO: Business Overview

IdeaForge was founded in 2007 by Ankit Mehta, Rahul Singh, and Ashish Bhat. It is a drone technology company that provides a range of drone solutions, including surveillance, mapping, and inspection. According to market research firms, IdeaForge is the undisputed leader in the Indian drone market with a share of approximately 50% in FY 2022. IdeaForge has grown at a CAGR of 237.48% in terms of revenue from operations over the last three financial years, with a return on capital employed of 49.63% in FY 2022.

IdeaForg IPO

IdeaForge’s drones are used for a variety of applications, including border security and disaster management. In addition, the company also offers software solutions, including a drone data management system that can help clients manage their data more effectively.

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IdeaForge IPO: Product Portfolio

IdeaForge’s product portfolio consists of (A) Hardware, which primarily includes UAVs, payloads, batteries, chargers, and communication systems, (B) Software and Embedded Sub-Systems, which includes the Ground Control Station (GCS) software, which enables the controlling and management of its UAVs and autopilot sub-system, which enables remote control and autonomous completion of flights, and (C) Solutions, which enables industry/application-specific software that enhances the value of its UAVs to the end customer.

IdeaForge IPO: Production Capacity

The company has its manufacturing facility in Navi Mumbai, Maharashtra. The facility spans approximately 21,000 sq. ft. of licensed premises and has three floors, which includes stores area, testing areas, production lines and seating area for managerial staff. It has production area of around 6,000 sq. ft. that includes automations and lean concepts for optimal material and process flows.

The following table sets forth the installed production capacity and the rate of capacity utilization of its facility.

Sản phẩmSức chứa
Sử dụng
31 March 2020* (%)
Công suất sử dụng
March 31
2021* (%)
Công suất sử dụng
March 31
2022* (%)
Sức chứa
mỗi ngày
Tháng Mười
2022 *
Quadcopter UAV6988933
Switch UAV00752
Khối hàng69799610
Pin96838417
Hộp liên lạc46889010
*As certified by A. D. Joshi Chartered Engineers & Valuers LLP, Chartered Engineer vide certificate dated 10 February 2023

IdeaForge Technology IPO: Shareholding Pattern

The biggest talking point in case of IdeaForge, perhaps, is the investment by tech giant Infosys. India’s second largest IT services company holds 4.4% equity stake in IdeaForge. Although miniscule, this is quite a booster for the dronemaker. With an equity stake of 3.79%, Qualcomm is another prominent name on board.

The following table has details of shareholders holding 4% or more of the paid-up share capital as of the date of Draft Red Herring Prospectus:

Tên cổ đôngNo. of Equity Shares(%) of Equity Share capital
Florintree Enterprise LLP45,97,97012.38
Celesta Capital II Mauritius44,30,95611.93
Ankit Mehta36,86,9649.93
La Mã35,83,2309.65
Ashish Bhat35,47,0709.55
Indusage Technology Venture Fund I23,02,4886.20
Infosys Limited16,47,3144.44

IdeaForge IPO: Financial Performance

IdeaForge has demonstrated strong financial performance compared to its peers. It has showcased an impressive revenue growth of 237.5% CAGR over FY 2020-22. Furthermore, with a gross margin of 74.1%, an EBITDA margin of 45.9%, and a PAT margin of 27.6% in FY22, IdeaForge is the most profitable player among the analyzed peers. IdeaForge also has the highest return metrics, i.e., ROE of 26.9% and ROCE of 37.6%, the highest among the players.

XUẤT NHẬP KHẨUXUẤT NHẬP KHẨUXUẤT NHẬP KHẨU1 tháng đầu năm 2023
lợi tức14.034.72159.44139.55
Chi phí29.7650.84111.2783.95
Thu nhập ròng(13.45)(14.63)44.0145.21
Lề (%)(96.07)(42.14)27.6032.40

IdeaForge IPO: Customers

As of 31 December 2022, IdeaForge has served approximately 265 customers. Its customers include Indian defense customers and civil customers comprising certain of the central armed police forces, state police departments, disaster management forces, forest departments, private contractors in connection with smart cities, Pioneer Foundation Engineers Private Limited, and C.E. Info Systems Limited.

As of 31 December 2022, the company had about 100 channel partners and three national distributors.

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