The company issued a total of 62,89,308 equity shares with a face value of ₹10 each at an issue price of ₹795 per share, which reflects a discount of ₹40.86 (4.89% of the floor price) as defined by SEBI guidelines, according to their statement.
The QIP attracted significant interest from prominent domestic and international institutional investors, showcasing their confidence in the company’s long-term vision and growth potential, the statement mentioned.
Institutional 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, among others, received equity shares, as noted in the statement.
“This funding enhances our capacity to expedite innovation, broaden our product offerings, and expand execution as unmanned systems play an increasingly crucial role in national security, public safety, and critical infrastructure operations. Building on our established ISR capabilities, we are diversifying into combat drones, logistics platforms, and autonomous mission systems that can function effectively in challenging electronic warfare settings,” stated Ankit Mehta, Co-founder and CEO of ideaForge Technology.
The company continues to invest in homegrown innovation aimed at creating dependable indigenous unmanned systems to meet the evolving demands of defense, homeland security, and critical infrastructure, both in India and internationally, Mehta added.
ideaForge is committed to investing in new products and technological advancements that will shape the future of unmanned systems, moving beyond intelligence, surveillance, and reconnaissance to include combat drone capabilities, logistics platforms, and autonomous mission systems while enhancing electronic warfare resilience. The company has recorded exceptional order inflows, demonstrating robust execution in both defense and civil sectors, alongside ongoing investment in homegrown technological development. With the global demand for reliable, sovereign UAV systems increasing, ideaForge is well-equipped to leverage this momentum and enhance its standing in critical domestic and international markets, the company stated.
