IdeaForge is growing rapidly and because of that some of the traders can earn literally double the amount they are investing and maybe that's why IdeaForge Technology Limited's IPO is listed at a 93% premium.

And according to the experts, IdeaForge share price may go up to Rupees 1700 apiece levels.

Multibagger IPO: The initial public offer (IPO) of ideaForge Technology Limited listed on BSE and NSE at a whopping 93 percent premium against the ideaForge IPO price band of ₹638 to ₹672. ideaForge share price opened on BSE at ₹1305.10 apiece levels and went on to hit an intraday high of ₹1344.00 per share levels within a few minutes of ideaForge IPO listing. Similarly, ideaForge share price opened at ₹1300 on NSE and hit an intraday high of ₹1343.95 apiece within grew seconds of listing.

Multibagger returns within a fortnight

This is a dream come true for any company to be listed on the share market but the best thing about IdeaForge is that after a few minutes of being listed IdeaForge got doubled the amount. which means that the drone maker company managed to double its lucky allottees' money in less than 15 days of investment as the IPO had opened for subscription on 26th June 2023. Now the thing is that IdeaForge share price increased and they made their dream debut on Dalal Street. Now this question would arise in every trader's mind that you should Buy, Sell or Hold?

IdeaForge share price outlook
IdeaForge share price is rising at a very rapid speed and that's why trading analysts are expecting the market to rise and most probably book 50 percent profit and fish out their principal and hold the drone maker company's stock for rupee 1700 apiece target in the long term.

Speaking on outlook for ideaForge shares, Anubhuti Mishra, Equity Research Analyst at Swastika Investment said, "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."
Asked about a balanced approach that may further maximize one's return from ideaForge shares, Vaibhav Kaushik, Research Analyst at GCL Broking said, "As the stock has given multi-bagger return to its allottees, my advice is to book 50 percent profit and fish out one's principal. Then they are advised to hold the rest 50 percent for further returns as the stock looks positive as the defense and drone theme is expected to work in the medium to long term. One can hold ideaForge shares for a medium-term target of ₹1540 and a long-term target of ₹1700 apiece."

Conclusion

The information provided in this blog is for educational purposes only and should not be considered financial or investment advice. Trading in stocks and securities involves risks, and individuals should carefully evaluate their financial situation and consult with professionals before making any trading decisions, you can take the help of Finskool advisory service which will increase your chances of earning profit.