Secondary Issues
Drone-tech co. ideaForge looks to raise Rs.500-Cr
Navi Mumbai-based drone manufacturer ideaForge is exploring options to raise INR 500 crore. The options include qualified institutional placement (QIP), preferential allotment, or a private placement.Founded in 2007, ideaForge develops and supplies unmanned aerial vehicle (UAV) solutions to defence forces, government agencies, and enterprise customers. The company plans to use the funds to capitalise on emerging opportunities in the defence and surveillance drone segment, expand its product portfolio, and explore export prospects.
Between Feb 2015 and Apr 2022, Ideaforge had attracted about $ 39 M from Windrose Capital, IndusAge Partners, Infosys Innovation Fund, Qualcomm Ventures, Trifecta Capital, Walden International, Celesta Capital, Infina Capital, BlackSoil Capital, Florintree and others.For FY25, Ideaforge had reported about INR 263 Cr in Operating Income and about INR 5 Cr in PAT.
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