ideaForge IPO: Latest GMP, how to check allotment status online

livemint.com:

ideaForge IPO: After closure of bidding and strong response by investors, both bidders and market observers are eagerly waiting for ideaForge IPO allotment date and ideaForge IPO allotment date. As per the most likely schedule of the public issue, ideaForge IPO allotment date is likely on 5th July 2023 and ideaForge IPO listing date is 10th July 2023. However, grey market has maintained its positive stance on ideaForge Technology shares.

According to stock market observers, shares of ideaForge Technology Ltd are available at a premium of ₹523 in grey market today. Market observers said that ideaForge IPO GMP (grey market premium) today is ₹523, which is ₹10 higher from its Monday GMP of ₹510. They said that grey market has remained highly positive on the drone maker company public issue since its opened for subscription on 26th June 2023.

However, after getting strong response by subscribers and Indian stocks hitting new highs on a regular basis, grey market remained steady above ₹500 premium that means grey market is signaling that ideaForge IPO would around or above ₹1200 per share on ideaForge IPO listing date, which is most likely on 10th June 2023. ideaForge IPO GMP today is ₹523, which means grey market is expecting that ideaForge IPO listing price would be around ₹1195 ( ₹672 + ₹523), which is more than 75 per cent higher from ideaForge IPO price band of ₹638 to ₹672 per equity share. However, stock market experts said that GMP is not an ideal indicator to find out the quantum of listing premium.