Drone startup ideaForge files DRHP with SEBI for IPO

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Drone startup ideaForge files DRHP with SEBI for IPO

Idea for a Qualcomm-backed drone startup Forge has reportedly filed its draft red herring prospectus (DRHP) for an initial public offering with market regulator Securities and Exchange Board of India (SEBI) (IPO).

According to reports, the public offering will include a fresh issue of shares worth INR 300 crore and an offer for sale (OFS) of nearly 48.7 lakh shares. Among the investors in the OFS are promoter group entities, Qualcomm, and venture capital firms. The IPO proceeds would be used to reduce debt, meet working capital needs, and fund product development.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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Idea for a Qualcomm-backed drone startup Forge has reportedly filed its draft red herring prospectus (DRHP) for an initial public offering with market regulator Securities and Exchange Board of India (SEBI) (IPO).

According to reports, the public offering will include a fresh issue of shares worth INR 300 crore and an offer for sale (OFS) of nearly 48.7 lakh shares. Among the investors in the OFS are promoter group entities, Qualcomm, and venture capital firms. The IPO proceeds would be used to reduce debt, meet working capital needs, and fund product development.

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Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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