Rajani Associates advises Selling Shareholders on Offer for Sale under ideaForge Tech IPO

The IPO comprised a fresh issue worth ₹240 crores and an Offer for Sale for ₹327 crores.

ideaForge Technology Limited has made initial public offering comprising fresh issue and an Offer for Sale. The fresh issue was for ₹240 crores and the OFS was for ₹327 crores. The IPO broke a record subscription and was subscribed at 106%.

The Book Running Lead Managers of this IPO were JM Financial and IIFL Securities.

Rajani Associates advised and acted for One Part of the selling shareholders in relation to the offer for sale. The team’s scope of work included reviewing the DRHP, RHP and the Prospectus and various IPO Agreements and more importantly hand holding all the Selling Shareholders throughout the process. 

The transaction team was led by Sangeeta Lakhi (Partner).

ideaForge is the largest drone manufacturing company, which has a 52% market share in India.

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