Secondary Issues
Drone-tech co. IdeaForge raises Rs.500-Cr via QIP
Navi Mumbai-based, listed drone technology company IdeaForge has raised INR 500 crore through a qualified institutional placement (QIP). The firm allotted 6.29 million equity shares to buyers at INR 795 per share. Institutional investors participating in the round include Bengal Finance and Investment, Hara Global Capital, Arohi Asset Management, and ACM Capital Management. Additionally, mutual funds including HDFC Mutual Fund, Mahindra Manulife, and Bandhan participated in the transaction.IdeaForge intends to invest INR 165 crore in working capital, INR 120 crore in debt reduction, and INR 90 crore in product development. The company is focused on enhancing its portfolio with offensive and logistics features, including precision strike capabilities for multirotors and the development of the Yeti, a large hybrid vertical take-off and landing (eVTOL) platform for cargo logistics.Following this allotment, the paid-up equity share capital of IdeaForge has increased to INR 4,968.4 crore. In the last quarter of FY26, the company reported a net profit of INR 59.9 crore on operating revenue of INR 141 crore.
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, BlackSoil Capital, Celesta Capital, Florintree, Infina Capital, Others.For FY26, IdeaForge had reported about INR 227 Cr in Operating Income and about INR 8 Cr in Net Loss.
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