ideaForge Technology Limited has successfully completed a ₹500 crore Qualified Institutional Placement (QIP), securing strong participation from leading domestic and international institutional investors. The fundraise reflects investor confidence in the company’s long-term strategy, leadership in the unmanned systems sector and future growth prospects.
The company allotted 62,89,308 equity shares with a face value of ₹10 each at an issue price of ₹795 per share, representing a 4.89% discount to the SEBI-determined floor price. The proceeds will support the company’s next phase of growth and strengthen its working capital.
The offering attracted participation from leading domestic and international institutional investors, including HDFC Mutual Fund–HDFC Defence Fund, Arohi Emerging India Master Fund, Bandhan Infrastructure Fund, Franklin India Small Cap Fund, ACM Global Fund VCC and HARA Global Master Fund Ltd.
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.”
Building on its vertically integrated UAV platform, ideaForge continues to invest in next-generation unmanned technologies, expanding into combat drones, logistics platforms, autonomous mission systems and electronic warfare resilience.
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.
