<ul><li><keyword id="203276" type="General" weightage="20" keywordseo="ideaforge" source="Orion">IdeaForge</keyword> lists at ₹1,305 which is a 94% premium over its IPO price. </li><li>The grey market has been expecting the listing day premiums to be over ₹510. </li><li>The company had raised ₹567 crore from its IPO, after the issue was subscribed 106 times the shares on offer. </li></ul><keyword id="17769830" type="General" weightage="20" keywordseo="drone-maker-ideaforge" source="Orion">Drone maker IdeaForge</keyword> made a stellar debut on the exchanges on Friday — listing at ₹1,305 with a 94% premium over its IPO price. The stock listed at a premium of ₹633, much ahead of the IPO price of ₹672, on listing. It also beat grey market expectations by a large margin. The grey market has been expecting the listing day premiums to be over ₹510, expecting the stock to list over ₹1,000, as per media reports. Grey market is the unofficial market where stocks are traded before they are listed. “Considering the overwhelming response from all types of investors, we are expecting a strong 70% plus listing gain backed by first-mover advantage and a healthy market mood,” said Prashanth Tapse, Senior VP (research), Mehta Equities. The company’s marketcap stood at ₹5,438 crore, as per data from BSE. The company had raised ₹567 crore from its IPO, after the issue was subscribed 106 times the shares on offer. IdeaForge was supposed to list on July 10, but the listing date was moved up to July 7. <keyword id="16473731" type="General" weightage="20" keywordseo="ideaforge-ipo" source="Orion">IdeaForge IPO</keyword> subscription details <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Category </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of times subscribed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">QIBs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">125.81 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non institutional investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">80.58 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">85.08 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">106.04 </td></tr></tbody></table>Source: BSE The first-mover advantage The company, which was set up in 2007, manufactures and deploys drones with applications across mapping, security and surveillance. As of 31 May 2023, it catered to 265 clients spanning Indian defence and civil customers, including some of the central armed police forces, state police departments, disaster management forces, forest departments and private contractors. “Their drones assist defence forces in conducting intelligence, surveillance and reconnaissance (ISR) operations along borders, help navigate a wide range of mining area planning and help boost construction and real estate,” said a report by Stoxbox. The public issue includes an offer for sale as well as fresh issue, and the proceeds from the fresh issue will be used towards repayment and prepayment of loans, funding working capital requirement, investment in product development and general corporate purposes. “Due to their leadership and first-mover advantage, they have been able to improve users' experiences by incorporating consumer data and ongoing technological advancements,” says Stoxbox, which had a ‘subscribe’ rating on the issue for the benefit of listing gains.

IdeaForge almost doubles investor money on listing, beats grey market expectations handsomely

<ul><li><keyword id="203276" type="General" weightage="20" keywordseo="ideaforge" source="Orion">ideaForge</keyword> is expected to announce its share allotment status today, July 5.</li><li>The shares of ideaForge were subscribed by 106.06 times overall.</li><li>The company’s shares are expected to be listed on the stock exchanges on July 10.</li></ul> Mumbai-based ideaForge, one of the country’s leading drone makers, is expected to announce the allotment status of its initial public offering (IPO) today, that is July 5. The <keyword id="16473731" type="General" weightage="100" keywordseo="ideaforge-ipo" source="Orion">ideaForge IPO</keyword> opened on June 26 and closed on June 30. The price band for the IPO was ₹638 to ₹672 per share. <cmsannotation type="cmsannotation" annotationid="Robust subscription" comment="subhead" text="Robust subscription">Robust subscription</cmsannotation> On its last day, the ideaForge IPO was subscribed 106.06 times, receiving bids for 49.30 crore equity shares against 46.49 lakh shares on offer. While the qualified institutional buyer portion was subscribed 125.81 times, the non-institutional investors portion was subscribed 80.58 times. The retail portion also witnessed good participation and was subscribed 85.20 times. The employee category was subscribed 96.65 times. <cmsannotation type="cmsannotation" annotationid="Grey market premium" comment="subhead" text="Grey market premium">Grey market premium</cmsannotation> The shares of ideaForge are currently commanding a grey market premium (GMP) of ₹550 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <cmsannotation type="cmsannotation" annotationid="Here’s how to check the IPO’s allotment status" comment="subhead" text="Here’s how to check the IPO’s allotment status">Here’s how to check the IPO’s allotment status</cmsannotation> You can check the allotment status on the registrar’s website. <ul><li>To check the <keyword id="17900083" type="General" weightage="20" keywordseo="ideaforge-ipo-allotment-status" source="Orion">ideaForge IPO allotment status</keyword>, visit the registrar’s website<a href="https://linkintime.co.in/IPO/public-issues.html"> here</a>.</li><li>Click on ‘Select Company’ and then select ‘ideaForge’.</li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC.</li><li>Now, enter the captcha.</li><li>Click on submit.</li></ul>You will be able to see your application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the ideaForge IPO allotment status on the BSE and NSE websites. To check the allotment status on BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>.</li><li>On the website, click on 'Equity' and then select ‘ideaForge’ from the dropdown menu.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li></ul>You will be able to see the number of shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your allotment status on NSE. <cmsannotation type="cmsannotation" annotationid="ideaForge listing date" comment="subhead" text="ideaForge listing date">ideaForge listing date</cmsannotation> The shares of ideaForge will be listed on the stock exchanges on July 10. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/kia-seltos-facelift-2023-unveiled-with-adas-2-0-bookings-start-july-14/slidelist/101482186.cms">Kia Seltos facelift 2023 unveiled with ADAS 2.0 – bookings start July 14</a> <a href="https://www.businessinsider.in/tech/mobile/news/iqoo-neo-7-pro-smartphone-has-been-launched-in-india/articleshow/101486497.cms">iQOO Neo 7 Pro with 120W fast charging hits the Indian market</a> <a href="https://www.businessinsider.in/tech/mobile/news/motorola-razr-40-and-razr-40-ultra-flip-phones-sales-start-july-15/articleshow/101477662.cms">Motorola Razr 40 and Razr 40 Ultra flip phones: Sales start July 15 – all you need to know</a>

ideaForge IPO allotment – how to check allotment, GMP, listing date and more

<ul><li>The QIB portion of IdeaForge’s IPO was subscribed over 125x the shares on offer. </li><li>Overall, the IPO was subscribed 106 times, while the retail portion was subscribed 85x. </li><li>Two other IPOs – circuit board maker Cyient DLM and construction company PKH Ventures – were also open for subscription on Friday. </li></ul>After getting a tremendous response from retail investors, the IdeaForge initial public offering (IPO) saw extensive bidding from qualified institutional buyers (QIBs) on the last day of the subscription on Friday. The QIB portion was subscribed 125 times the shares on offer, and the IPO overall was subscribed 106 times as of 5 pm. The IPO dates were extended to four days after an unexpected change in market holiday on Thursday due to Eid al Adah or Bakrid. The retail portion of the drone maker’s shares on offer has been subscribed 85 times over, with good response from non-institutional buyers. The price band of the IPO has been fixed at ₹638-672 per equity share, and the company has been planning to raise ₹567 crore at the upper end of the price band. Two other IPOs – circuit board maker Cyient DLM and construction company PKH Ventures – were also open for subscription. Cyient DLM’s public issue was subscribed 67 times on Friday, its last day, while PKH Ventures, which opened today, was subscribed only 6% overall. <keyword id="17805774" type="General" weightage="20" keywordseo="ideaforge-ipo-subscription" source="Orion">IdeaForge IPO subscription</keyword> details <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Category </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of times subscribed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">QIBs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">125.81 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non institutional investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">80.58 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">85.08 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">106.04 </td></tr></tbody></table>Source: BSE About the company The company, which was set up in 2007, manufactures and deploys drones with applications across mapping, security and surveillance. As of 31 May 2023, it catered to 265 clients spanning Indian defence and civil customers, including some of the central armed police forces, state police departments, disaster management forces, forest departments and private contractors. “Their drones assist defence forces in conducting intelligence, surveillance and reconnaissance (ISR) operations along borders, help navigate a wide range of mining area planning and help boost construction and real estate,” said a report by Stoxbox. The public issue includes an offer for sale as well as fresh issue, and the proceeds from the fresh issue will be used towards repayment and prepayment of loans, funding working capital requirement, investment in product development and general corporate purposes. “Due to their leadership and first-mover advantage, they have been able to improve users' experiences by incorporating consumer data and ongoing technological advancements,” says Stoxbox, which had a ‘subscribe’ rating on the issue for the benefit of listing gains. SEE ALSO <a href="https://www.businessinsider.in/business/news/the-indian-wine-market-is-growing-as-millennials-seek-experience-over-intoxication/articleshow/101380193.cms">The Indian wine market is growing as millennials seek experience over intoxication</a> <a href="https://www.businessinsider.in/business/startups/news/indias-five-smartest-angel-investors-who-are-close-to-cracking-the-unicorn-code/articleshow/101361142.cms">Anupam Mittal to Snapdeal founders: Meet the smartest Indian angels cracking the unicorn code</a>

QIBs lap up IdeaForge IPO, issue subscribed 106x on last day

<ul><li>Retailers and non-institutional investors lapped up the public issue of IdeaForge, as they each subscribed 64x that on offer. </li><li>Qualified institutional buyers (QIBs) also put in bids for 38.62 times the shares on offer. </li><li>The issue will now close on June 30, after the trading <a href="https://www.businessinsider.in/stock-market/news/bakrid-trading-holiday-changed-to-june-29-heres-how-it-will-affect-your-fo-contracts/articleshow/101303488.cms">holiday for Bakrid was changed</a>. </li></ul>IdeaForge’s initial public offering (IPO) was subscribed 50 times over as retail investors and non-institutional investors lapped up the shares on the third day of subscription on Wednesday. The retail portion of the shares on offer of the drone maker has been subscribed 64 times over, and so was that of non-institutional buyers. Qualified institutional buyers (QIBs) also put in bids for 38.62 times the shares on offer, as of the third day of subscription. As much as 75% of the offer is reserved for QIBs while 15% is meant for non-institutional investors, and 10% has been set aside for retail investors. The issue was initially set to close on June 29 but after the trading <a href="https://www.businessinsider.in/stock-market/news/bakrid-trading-holiday-changed-to-june-29-heres-how-it-will-affect-your-fo-contracts/articleshow/101303488.cms">holiday for Bakrid was changed</a>, the IPO closing date was extended to June 30. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Category </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No of times subscribed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">QIBs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">38.62 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non institutional investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">64.06 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">64.48 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">50.30 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: BSE About the company The company, which was set up in 2007, manufactures and deploys drones with applications across mapping, security and surveillance. As of 31 May 2023, it catered to 265 clients spanning across Indian defence and civil customers, including some of the central armed police forces, state police departments, disaster management forces, forest departments and private contractors. “Their drones assist defence forces in conducting intelligence, surveillance and reconnaissance (ISR) operations along borders, help navigate a wide range of mining area planning and help boost construction and real estate,” said a report by Stoxbox. The public issue includes an offer for sale as well as fresh issue, and the proceeds from the fresh issue will be used towards repayment and prepayment of loans, funding working capital requirement, investment in product development and general corporate purposes. “Due to their leadership and first-mover advantage, they have been able to improve users' experiences by incorporating consumer data and ongoing technological advancements,” says Stoxbox, which had a ‘subscribe’ rating on the issue for the benefit of listing gains.

IdeaForge IPO subscribed 50 times over on last day with strong retail demand

<ul><li>IdeaForge’s public issue has been subscribed 6.38 times on the second day of the public issue. </li><li>Retail portion has been subscribed by 21.28 times, while the QIB portion is yet to be fully subscribed. </li><li>The issue closes for subscription on June 28 now instead of June 29. </li></ul>IdeaForge’s initial public offering (IPO) of shares continued to rake up bids from retail investors on the second day of the issue on Tuesday. The issue, at the time of publishing, has been overall subscribed 6.38 times the shares on offer. The issue will also now close on June 28 instead of June 29, after the trading <a href="https://www.businessinsider.in/stock-market/news/bakrid-trading-holiday-changed-to-june-29-heres-how-it-will-affect-your-fo-contracts/articleshow/101303488.cms">holiday for Bakrid has changed</a>, but it will be open for subscription on Wednesday, which wasn’t available earlier. The retail portion of the shares on offer of the drone maker, has been garnering interest and has been subscribed by 21.28 times over as of 11:53 am on Tuesday. Even the portion reserved for non-institutional investors was subscribed nine times over. The issue however received tepid response from qualified institutional buyers, as it’s yet to be fully subscribed. As much as 75% of the offer is reserved for QIBs while 15% is meant for non-institutional investors, and 10 percent has been set aside for retail investors. Another public issue by Cyient DLM opened for bids on Tuesday. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Category </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No of times subscribed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">QIBs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.05 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non institutional investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9:03 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">21.28 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.38 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: BSE About the company The company which was set-up in 2007, manufactures and deploys drones with applications across mapping, security and surveillance. As of 31 May 2023, it catered to 265 clients spanning across Indian defence customers and civil customers comprising certain of the central armed police forces, state police departments, disaster management forces, forest departments and private contractors. “Their drones assist defence forces in conducting intelligence, surveillance and reconnaissance (ISR) operations along borders, help navigate a wide range of mining area planning and help boost construction and real estate,” said a report by Stoxbox. The public issue includes an offer for sale as well as fresh issue, and the proceeds from the fresh issue will be used towards repayment and prepayment of loans, funding working capital requirement, investment in product development and general corporate purposes. “Due to their leadership and first mover advantage, they have been able to improve users' experiences by incorporating consumer data and ongoing technological advancements,” says Stoxbox which had a ‘subscribe’ rating on the issue for the benefit of listing gains. As of Monday, the company’s issue is commanding a premium of over ₹450 in the grey market, according <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/ideaforge-ipo-gmp-signals-strong-investor-interest-ahead-of-subscription-tomorrow/articleshow/101256788.cms?from=mdr">to media reports</a>. Grey market premium (GMP) is the premium at which an unlisted stock is traded in an unofficial market.

IdeaForge’s IPO subscribed 6X on day 2; issue to now close on June 28

<ul><li>DRDO developed a counter-drone technology system in 2020, however it did not get any order from the Indian armed forces. </li><li>Experts believe that the drone as well as counter-drone technology are fairly young and still need improvements. </li><li>Indian government rolled out guidelines against rogue <keyword id="94769" type="PERSON" weightage="20" keywordseo="drones">drones</keyword> in 2013, yet the country doesn’t have enough anti-drone devices.</li></ul>As the government of India has just started recognising the potential use cases of drones in the Indian healthcare system, it was hit with a harsh reality that the enemies of the state have taken leaps to incorporate this technology to harm the South Asian nation. Two bombs were<a href="https://www.indiatoday.in/india/story/jammu-iaf-base-drone-attack-jawans-saw-heard-bombs-drop-1821316-2021-06-30"> dropped</a> at the Indian Air Force station in Jammu, in the early hours of June 27 this year. <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">June 27, 2021 </td><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Two bombs dropped on IAF base in Jammu between 1:43 a.m.-1:50 a.m. </td></tr><tr><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">June 27, 2021 </td><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Two more drones were spotted over IAF military stations at 11:45 p.m. and 2:40 a.m. </td></tr><tr><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">June 28, 2021 </td><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Two similar devices were noticed in Ratnuchak-Kaluchak military area in Jammu. This prompted soldiers to open fire. </td></tr><tr><td colspan="2" style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Source: Media reports </td></tr></tbody></table> This compelled the Indian government and security forces to go on a shopping spree to buy expensive counter-drone systems. While there are not many counter-drone technology makers in India, few of these players include state-owned Defence Research &amp; Development Organisation (DRDO), Bharat Electronics Limited (BEL), ideaForge and Big Bang Boom Solutions. According to media <a href="https://indianexpress.com/article/india/bsf-it-ministry-companies-border-security-drone-attack-7386310/">reports</a>, there are over 500 companies that can help the country find a solution to its drone problem. All these companies may not make devices to harm or kill drones, but can certainly help in tracking them. There are also several military tech private companies in the country, including Adani Defence &amp; Aerospace and Kadet Defence Systems that make drones for surveillance and technology for other combat purposes; Atindriya Systems provides electronic systems and software solutions for defense, and Trijatta that develops radars and encryption devices for the military. The government of India has been aware of the potential threat that rogue drones could pose in the security of the nation and issued a <a href="https://www.civilaviation.gov.in/sites/default/files/Counter_rogue_drone_guidelnes_NSCS.pdf">National Counter Rogue Drone Guidelines </a>two years ago. The policy highlights that the drone factor should be taken seriously as unmanned aircrafts, consumer drones and do-it-yourself (DIY) drones are readily available over the internet. The policy, referring to the Israel-Lebanon war of 2006, highlights "In certain incidents, the small drones were also armed with explosive ordnance, to convert them into potentially lethal guided missiles, thus demonstrating the growing sophistication with which these potent warriors have found relevance in combat zones." Yet it has found itself short of any large scale counter-drone system. The Jammu attack in itself did not cost much, but it did highlight the urgency to invest in a counter-drone system that could prevent bigger attacks in the long run. In the coming months, the government of India wants to sign multi-million dollar [who’s saying this?] contracts with both domestic and foreign firms to procure these technologies. <div type="image" title="India has limited options for weapons that can take down enemy drones" msid="84836842" hostid="261"></div> The anti-drone technology has a massive headroom to cover Kruthi Aramanamada, head of marketing at ideaForge, explained to Business Insider that counter-drone technology is expensive and fairly new as it came into existence only a decade ago. The technology is not fully matured and there is still a lot of scope of research and development (R&amp;D) in this segment, she added. Meanwhile, Anshuman Tripathi, a drone technology expert who is also a member of the National Security Advisory Board, <a href="https://www.indiatoday.in/india/story/combating-the-drone-menace-india-needs-to-pick-up-pace-with-anti-drone-measures-1823517-2021-07-03">said</a>, "Drones are still evolving and solutions to handle them are incomplete. It's a matter of a few years when the technology matures and you can standardise equipment as you go forward." Even developed countries like the US, Russia and Israel are <a href="https://theprint.in/opinion/brahmastra/india-needs-to-shop-for-anti-drone-systems-we-are-already-late/688517/">pumping billions</a> of dollars into research and development of both drones and counter-drone systems. However, they have not found a foolproof system for both hard and soft kill as yet. Indian armed forces on a look out for counter-drone systems In June 2020, IAF floated a Request for Information (RFI) for Indian vendors for Counter Unarmed Aircraft System (CUAS), which can be used to bring down the rogue drone. Apart from that, other ministries and departments are also looking to sign such contracts. However, there have not been many insights on who may end up getting such contracts. One of the possible beneficiaries of this spree is likely to be Israel-based company Smart Shooter, a company that has been developing systems to help militaries track and engage moving targets. Indian Navy had placed an order to <a href="https://theprint.in/defence/navy-orders-israeli-smash-2000-plus-systems-to-tackle-drones-more-contracts-in-offing/562955/">procure </a>an unspecified number of Smart Shooter’s SMASH 2000 Rifle Sights in December 2020. However, the Indian Army wasn’t quite impressed with it after their trials in January 2021. They found that the system may work well for the Navy as they work in open terrain, but it is not feasible for other terrains. This highlighted another major challenge among the counter-drone technology — use cases. The counter-drone system is not a ‘one size fits all’ type of solution and has to be customised based on the criticality of the situation, Aramanamada added. The debate between indigenous or foreign technology remains Prof. P B Sujit, adjunct faculty at School of Engineering and Technology at BML Munjal University, said that the current counter-drone tech is limited and mostly sourced or licensed from other countries. He also noted that there are few Indian startups in the segment as well, but the quality of those solutions is undetermined at the moment. “The trust in Indian developed tech is low. With the history of India importing from Israel, it's natural to import this. Moreover Israel has good tech which has been field tested with Palestine stuff... So the confidence levels are right with the Israel tech,” he added. Apart from the Israeli plan, the government is also on a look out for the technology developed by domestic players and foreign public as well as private sector units, drone original equipment manufacturers, defence tech firms and Defence Research &amp; Development Organisation (DRDO). Indian stand on the counter-drone infrastructure includes only a few players at the moment: <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><tbody><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">DRDO anti-drone system was<a href="https://www.drdo.gov.in/sites/default/files/drdo-news-documents/NPC_15-16_Aug_2020.pdf"> first </a>deployed in India in 2020, during various national events including Prime Minister Narendra Modi’s Independence Day speech. However, it is not being used. The device had the capability to detect, intercept and destroy small drones. </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">DRDO also carried out an urgent demonstration of its anti-drone system to armed forces at Kolar, a city in Karnataka, earlier in July 2021. The system has a detection capability of up to four kilometres with ‘soft kill’ option by radio frequency jamming. </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">National Security Guards had <a href="https://www.firstpost.com/india/why-india-needs-israel-as-drone-attacks-become-real-and-threatens-to-be-cataclysmic-9763551.html">awarded </a>a contract worth ₹1.49 crore to Bengaluru-based Accord Software &amp; System for procurement of indigenous Counter Drone Technology System. </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">ideaForge has partnered with German tech firm Aaronia AG to develop anti-drone tech devices. However, the solutions have not been deployed on the ground yet. </td></tr></tbody></table> Even though the army and security forces are yet to deploy DRDO’s anti-drone system, Bharat Electronics Limited and three<a href="https://www.hindustantimes.com/india-news/bsf-to-test-drdo-anti-drone-system-on-border-ied-laden-uav-shot-down-in-jammu-101627010670994.html"> undisclosed </a>private companies have signed a technology transfer agreement with the government. The agreement would enable these players to mass-produce the system. SEE ALSO <a href="https://www.businessinsider.in/politics/political-media/news/there-are-at-least-four-hot-issues-in-india-that-the-government-has-no-data-for/articleshow/84820788.cms">There are at least four hot issues in India that the government has no data for</a> <a href="https://www.businessinsider.in/cryptocurrency/news/maharashtra-karnataka-and-telangana-plan-to-use-ethereum-in-their-fight-against-fake-degrees/articleshow/84823688.cms">This Indian startup is using Ethereum to help Maharashtra, Karnataka and Telangana fight against fake degrees</a> <a href="https://www.businessinsider.in/business/news/ola-expands-esop-pool-to-3000-crore-issues-stock-worth-400-crore-to-employees/articleshow/84820171.cms">Ola expands ESOP pool to ₹3,000 crore, issues stock worth ₹400 crore to employees</a>

India has limited options for weapons that can take down enemy drones

The makers of the drone '<keyword id="116774" type="COMPANY" weightage="20" keywordseo="Rancho">Rancho</keyword>' seen in the movie <keyword id="6373971" type="ENTERTAINMENT" weightage="20" keywordseo="3-idiots">3 idiots</keyword> have created several <keyword id="6370270" type="ORGANIZATION" weightage="20" keywordseo="unmanned-aerial-vehicles">unmanned aerial vehicles</keyword> that are being used by Indian defence forces and in intelligence and surveillance ops. 
 
A team of four IIT alumni - Ankit Mehta, Rahul Singh, Ashish Bhat, and Vipul Joshi - started a company called ideaForge in 2007 to give their dream wings. They were working on developing technologies back in college and had many ideas they wanted to convert into products by the time they graduated. 
<img class="gwt-Image" src="/photo/57390622.cms" /> 
In 2008, recognition from government came to them when they won a Micro Aerial Vehicle competition at Massachusetts Institute of Technology, USA. Thereafter, they landed with several government projects, one of which wa NETRA – a vertical takeoff and landing UAV built on quadrotor configuration that the team developed in collaboration with Defence Research and Development Organisation. 
<img class="gwt-Image" src="/photo/57390628.cms" /> 
 This UAV could take off from a small area and could fly over an area up to the height of 400m sending continuous real time videos of movements on the ground. It was this early prototype of NETRA that you had seen during the shoot of 3 Idiots. The movie director of 3 idiots had read about the drone and work by <keyword id="137562" type="PERSON" weightage="20" keywordseo="IITians">IITians</keyword> in the newapaper. 
 
In 2009, ideaForge developed the world’s smallest and lightest autopilot drone and also came up with India’s first fully autonomous vertical takeoff and landing UAV. In this, a user feeds the GPS location of the required destination, which is then converted into command and instructions and the UAV reaches the location autonomously. 
 The UAV's made by this team are typically easy-to-use, so they can be used easily during emergencies. So far, they have been used by the <keyword id="6354416" type="ORGANIZATION" weightage="20" keywordseo="Indian-Army">Indian Army</keyword> to look for survivors after the deadly Uttarakhand floods back in 2013, to map the positions of militants during defence ops, for disaster management during the Nepal earthquake, and to manage crowds during the Kumbh mela. One of ideaForge’s <keyword id="94769" type="UNKNOWN" weightage="20" keywordseo="drones">drones</keyword> also helped in tracking a man-eating tigress in Uttarakhand.

Here's the stellar work done by four IITians who built 'Drone Rancho' for the famous movie '3 idiots'

<ul><li>As of 5 pm on Friday, no qualified institutional buyers or QIBs had bid for the issue. </li><li>The interest from retail and non-institutional investors was also very low. </li><li>Two other IPOs – that of drone maker IdeaForge and circuit board maker Cyient DLM – closed on Friday. </li></ul>The public issue of construction company <keyword id="13458156" type="General" weightage="20" keywordseo="pkh-ventures" source="Orion">PKH Ventures</keyword> received a tepid response from all classes of investors as only 6% of it was subscribed overall on the first day of the issue on Friday. As of 5 pm on Friday, no qualified institutional buyers or QIBs had bid for the issue. The interest from retail and non-institutional investors was also very low. Two other IPOs closed on Friday – while drone maker IdeaForge’s public issue was subscribed 106 times, circuit board maker Cyient DLM’s IPO was subscribed 67 times on the last day of their issue. <keyword id="17858592" type="General" weightage="20" keywordseo="pkh-ventures-ipo-subscription" source="Orion">PKH Ventures IPO subscription</keyword> details <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Category </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of times subscribed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">QIBs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.00 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non institutional investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.10 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.13 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.06 </td></tr></tbody></table>Source: BSE The <keyword id="13458157" type="General" weightage="20" keywordseo="pkh-ventures-ipo" source="Orion">PKH Ventures IPO</keyword> closes on July 4. The price band for the shares has been fixed at ₹140-148 apiece. The company intends to raise as much as ₹379 crore via the public issue. The issue comprises an offer for sale and a fresh issue of shares – which will be used to invest in subsidiaries, long-term working capital need, pursuing inorganic growth through and towards general corporate purposes. The bids will be received in 100 equity shares and in multiples thereof. The company is in the business of construction and development, hospitality and management services. Its net profit grew by 32% to ₹40.5 crore in FY22, as compared to the year before. Its revenue, however, fell by 17.4% to ₹199 crore in the same period. Failure to obtain new civil contracts, delay or cessation of annuity payments, weather risks for its hydro projects are some of the risks associated with the company. The grey market premium, i.e. the premium at which the IPO shares trade in an unofficial market, is at ₹5, as per media reports. SEE ALSO <a href="https://www.businessinsider.in/business/news/the-indian-wine-market-is-growing-as-millennials-seek-experience-over-intoxication/articleshow/101380193.cms">The Indian wine market is growing as millennials seek experience over intoxication</a> <a href="https://www.businessinsider.in/business/startups/news/indias-five-smartest-angel-investors-who-are-close-to-cracking-the-unicorn-code/articleshow/101361142.cms">Anupam Mittal to Snapdeal founders: Meet the smartest Indian angels cracking the unicorn code</a>

PKH Ventures IPO subscribed 6% on day 1 as retail, institutional interest remain muted

<ul><li>The Indian government has started to give <keyword id="10817184" type="UNKNOWN" weightage="20" keywordseo="defence-procurement-contracts">defence procurement contracts</keyword> to micro, small and medium enterprises (MSMEs).</li><li>Dassault Group's software services subsidiary called <keyword id="181533" type="COMPANY" weightage="20" keywordseo="Dassault-Systemes">Dassault Systemes</keyword>, which already works with companies like NASA, Airbus and Boeing, sees this as an opportunity to enable these MSMEs to deliver on these contracts.</li><li>It is currently in early talks to set up a ‘common shared infrastructure model’ with state governments — like Uttar Pradesh and Tamil Nadu — where MSMEs can design, test and start rolling out technology-enabled defence products.</li></ul>Everyone in India knows that French fighter jet maker <keyword id="230239" type="COMPANY" weightage="20" keywordseo="Dassault-Aviation">Dassault Aviation</keyword> clinched the deal with India to deliver Rafale, despite all the controversies surrounding it. But, did you know that its parent company, the Dassault Group, has a subsidiary that provides engineering software, much like Microsoft and Oracle — and has an office in India? The software offshoot, Dassault Systemes, is looking to make roadways into the country by capitalising on the Modi administration’s push on <a href="https://www.businessinsider.in/policy/economy/news/difference-between-narendra-modi-make-in-india-and-atma-nirbhar-and-why-the-latter-may-work-better/articleshow/77629449.cms">Atma Nirbhar Bharat</a> (Self Reliant India). Under the massive reforms introduced last year, the Indian government is now handing out <a href="https://www.businessinsider.in/budget/news/prime-minister-narendra-modi-signals-big-defence-budget-allocation-for-make-in-india/articleshow/80511082.cms">defence procurement contracts</a> to micro, small and medium enterprises (MSMEs) to boost domestic defence manufacturing. “The Ministry of Defence (MoD) has planned to invest about 63% of the outlay for 2021-22 — about ₹70,221 crore — on domestic procurement. This increase will have a positive impact on enhanced domestic procurement, having a multiplier effect on our industries, including MSMEs and startups,” said Defence Minister <a href="https://twitter.com/DefenceMinIndia/status/1363720075467841540">Rajnath Singh</a> during a webinar on February 22. A ‘Fund of Funds’ worth ₹10,000 crore has been specifically created for startups and MSMEs. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Defence procurement contract </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Item </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ideaForge </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 145 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Unmanned aerial vehicles for high altitude areas </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharat Forge </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹178 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kalyani M4 vehicles </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">OshoCorp Global </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 1,325 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Develop and supply auxiliary power units (APUs) for T-72 and T-90 main battle tanks </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Alpha Design Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 590 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Digitise Pechora missile and radar systems </td></tr></tbody></table>Source: Various reports Dassault Systemes wants to capitalise on this opportunity by introducing what they call a ‘common shared infrastructure model’, which essentially an <a href="https://www.3ds.com/insights/customer-stories/wichita-state-university">innovation centre</a>. It is currently in early talks with state governments⁠ looking to set up defence industrial corridors. Namely, Uttar Pradesh and Tamil Nadu as identified by India’s Finance Minister <a href="https://pib.gov.in/Pressreleaseshare.aspx?PRID=1579096">Nirmala Sitharaman</a>. “We’re working with the government to create a ‘common shared infrastructure model’, where the government and Dassault Systemes will invest to create the model. MSMEs will leverage the model and the technologies that are hosted there, so that they also get elevated in the technology adoption scale,” Ravikiran Pothukuchi, the Director of Dassault Systemes told Business Insider in an exclusive interview. Dassault Systemes is already the second-largest player in the global market when it comes to computer-aided design (CAD) software after Siemens. This is basically the use of computers to help with the creation, modification, analysis and optimisation of a product. <div type="image" title="dassault systemes market share" msid="81183311" hostid="261" caption="&amp;lt;p&amp;gt;Dassault Systemes global market share&amp;lt;/p&amp;gt;"></div> Its clients include bigwigs like Boeing, Airbus, the National Aeronautics and Space Administration (NASA) and its sister company, Dassault Aviation. In India, its clients include Ashok Leyland, Suprajit — India’s largest cable maker — and drone manufacturer General Aeronautics. <div type="image" title="snapshot-1614137962426" msid="81183342" hostid="261" caption="&amp;lt;p&amp;gt;Distribution of Dassault Systemes&amp;#39; customers across countries&amp;lt;/p&amp;gt;"></div> “What we realised is that the defence ecosystem of MSMEs [micro, small and medium enterprises] don't have the wavelength to invest in these technologies,” Ravikiran Pothukuchi, the director of Dassault Systemes told Business Insider in an exclusive interview. What is a ‘common shared infrastructure model’? A ‘common share infrastructure model’ is basically a stage where defence manufacturing companies and startups can come, toy with their ideas, and test their concepts — both in the virtual and physical world. “[The companies] take back their learnings and industrialise at a mass scale in their operations set up,” explained Pothukuchi.”That’s the idea that we’re discussing locally as well. There are some governments that have shown interest.” The French IT software services company already has a similar set up in the US state of Wichita in collaboration with the Wichita State University. The state of Wichita is the aerospace hub of the US, like Bengaluru. “Initially, governments are helping them to adapt to these technologies and we’ll become relevant to them at a later date. That is an investment we’re making along with the government,” the IIM-Bengaluru graduate told Business Insider. He hopes that the project to roll out the model will take shape within the next few months. SEE ALSO: <a href="https://www.businessinsider.in/tech/enterprise/news/datacracy-microsoft-ceo-satya-nadella-calls-for-a-common-set-of-global-rules-governing-data-not-fragmented-local-ones/articleshow/81176502.cms">Datacracy: Microsoft CEO Satya Nadella calls for a common set of global rules governing data— not fragmented local ones</a> <a href="https://www.businessinsider.in/science/space/news/indian-space-startup-pixxel-wont-be-launching-its-satellite-on-february-28/articleshow/81170896.cms">Indian space startup Pixxel won’t be launching its satellite on February 28</a>

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