IdeaForge Lists on NSE, BSE: Shares of IdeaForge Technology Ltd listed on the bourses at a premium on Friday. On the NSE, the stock was listed at Rs 1,300 per share, 93.5 per cent higher than the issue price, and on the BSE, the stock was listed at Rs 1,305.10 per share.
What Should Investors Do Now?
Anubhuti Mishra, Equity Research Analyst at Swastika Investmart Ltd., said: “IdeaForge Technology made a tremendous entry into the market at a listing price of Rs. 1300. This is a significant gain of around 93% for investors, as the company’s issue price at the upper band was Rs 672. While there is no doubt that this was a great opportunity for investors, and it has delivered some surprising returns, we would recommend that investors should book profits and exit their positions. This is because after listing the stock is already trading at a significant premium to its issue price. Additionally, there are some business-related risks associated with the company, so it is better to lock in these gains now rather than take the risk of carrying them forward however, aggressive investors can still hold it with stop loss at 1170.”
“With market undertone remaining optimistic if we get stronger listing gains over and above 70 per cent, We recommend allotted investors to book profits on the listing day while risky fancy investors can hold for medium to long term to play on drone demand,” according to Mehta Equities.
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