Ideaforge Technology Limited Approves Floor Price for Equity Shares in Qualified Institutions Placement
Ideaforge Technology Limited has approved key aspects related to its upcoming equity issuance, setting the floor price and authorizing the launch of a Qualified Institutions Placement (QIP). The placement is for the equity shares of the company, which have a face value of ₹10 each.The decision was formalized following approval by the Company's Fund Raising Committee on July 07, 2026, and subsequent shareholder ratification through a special resolution passed via Postal Ballot on July 04, 2026. The committee approved multiple resolutions related to the Issue, including authorizing the commencement of the placement and adopting the Preliminary Placement Document dated July 07, 2026.
The Board has determined the floor price for the equity shares at ₹835.86 per Equity Share. This figure was calculated based on the prescribed pricing formula.
The Company retains the discretion to offer a discount of up to 5% on the floor price during the placement process. The final Issue price will be determined by Ideaforge Technology Limited in collaboration with the book running lead managers appointed for the placement.
A summary of the key financial parameters related to the Qualified Institutions Placement (QIP) is as follows:
| Parameter | Detail |
|---|---|
| Face Value per Share | ₹10 |
| Floor Price | ₹835.86 |
| Maximum Discount Option | 5% on floor price |
The Preliminary Placement Document pertaining to the Issue has been made available for reference on the company's official website.
IDEAFORGE Stock Price Movement
Ideaforge Technology Limited shares today slipped by 1.66% to close at ₹840.45. The stock saw a trading volume of 122,073 shares in the post-market session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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