Ideaforge Technology IPO

1. ideaForge Technology is the pioneer and the pre-eminent market leader in the Indian UAS market, with a market share of approximately 50%.
2. Diversified product portfolio with a robust technology stack and track record of successful outcomes in critical use cases.
3. Strong relationships with a diverse customer base
 

1. The company operates in an industry that is highly regulated and subject to change. If it fails to comply with the applicable regulations and rules prescribed by the Government of India and the relevant statutory or regulatory bodies, its business, financial condition, cash flows and results of operations will be adversely affected
2. The company is a licensed manufacturer of Unmanned Aerial Vehicles under the Industries (Development and Regulation) Act, 1951, and any non-compliance of, or a failure to satisfy the terms and conditions under such license could lead to the cancellation of its license thereby creating a material adverse impact on its business, financial condition and results of operations.
3. The company is heavily reliant on sales to the Indian government including to the central and state government agencies. A decline in the government budget, reduction in orders, termination of existing contracts, delay of existing contracts or any kind of adverse change in the Government of India policies for the sector would have a material adverse impact on the business, financial condition, and results of operations.
4. The company is highly dependent on global vendors for the supply of components and may not be able to reduce the dependency on such imports. If critical components or raw materials become scarce or unavailable, then the company may incur delays in manufacturing and delivery of the products and in completing the development programs, which could damage the company’s business.