Mumbai: ideaForge Technology Limited, India’s leading drone technology player, announced the successful completion of its Qualified Institutional Placement (QIP), raising ₹500 crore. The QIP witnessed a strong response from marquee domestic and international institutional investors reflecting their confidence in the Company’s long-term strategy, leading position in the unmanned sector, and growth prospects.
The Company allotted a total of 62,89,308 equity shares of face value ₹10 each at an issue price of ₹795.00 per share, representing a discount of ₹40.86 (4.89% of the floor price) determined as per SEBI regulations.
Leading investors such as HDFC Mutual Fund-HDFC Defence Fund, Arohi Emerging India Master Fund, Bandhan Infrastructure Fund, Franklin India Small Cap Fund, ACM Global Fund VCC, HARA Global Master Fund Ltd, and other institutional investors were allotted the equity shares. The Company plans to use the proceeds to fund its next phase of growth and strengthen its working capital.
Ankit Mehta, Co-founder & CEO of ideaForge Technology, said, “The successful completion of this QIP is a testament to the confidence that institutional investors have in ideaForge’s long-term direction and in the overall growth of the drone and deeptech industry. Our philosophy has been to observe technology and global trends, anticipate requirements, and persistently invest in advanced product and technology development to build a credible moat. This capital strengthens our ability to accelerate innovation, deepen our product portfolio and scale execution as unmanned systems become increasingly central to national security, public safety and critical infrastructure operations.”
“Our journey has always been about anticipating where operational requirements are headed and investing ahead of that curve. Building on our proven ISR capabilities, we are now expanding into combat drones, logistics platforms, autonomous mission systems and technologies that can operate effectively in contested electronic warfare environments. Our continued investment in indigenous innovation is aimed at building trusted sovereign unmanned systems that can address the evolving needs of defence, homeland security and critical infrastructure, both in India and globally,” he added.
As India’s leading vertically integrated UAV technology company, ideaForge continues to invest in new product and technology development that will define the future of unmanned systems, expanding beyond intelligence, surveillance and reconnaissance into combat drone capabilities, logistics platforms and autonomous mission systems, while advancing electronic warfare resilience capabilities.
The fundraise caps off a strong year for ideaForge. The company has seen record order inflows, strong execution across both defence and civil sectors, and continued investment in indigenous technology development.
With demand for trusted, sovereign UAV systems rising steadily globally, ideaForge is well positioned to build on this momentum and strengthen its position in key domestic and international markets.
