ideaForge Technology Limited's IPO has taken the market by storm with a remarkable 93% premium listing on both BSE and NSE. The ideaForge share price opened at impressive levels and quickly reached new highs, providing substantial gains to lucky allottees within minutes of the IPO listing. In fact, investors who participated in the IPO witnessed their money doubling within a fortnight, showcasing the multibagger potential of this drone maker company.
Looking ahead, experts anticipate further growth in the ideaForge share price. While it is recommended to secure 50% profits and recover the principal investment, holding the stock for a long-term target of ₹1700 per share is advised. Equity research analysts emphasize the importance of booking profits, given the current significant premium to the issue price and the associated business risks. However, more aggressive investors can consider holding the stock with a stop loss at ₹1170.
For those seeking a balanced approach to maximize returns, research analysts suggest booking 50% profits and withdrawing the principal investment. The remaining 50% can be held for potential further gains, as the positive outlook for defense and drone themes may continue to drive the stock in the medium to long term. The suggested medium term target is ₹1540 per share while the long-term target stands at ₹1700 apiece.
As the ideaForge share price extends its gains, investors must carefully evaluate their investment strategy and weigh the potential risks and rewards. It is crucial to consider expert advice and conduct thorough research before making any investment decisions.