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Funding · AI & Deep Tech

IdeaForge approves ₹500 crore fundraise plan

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Date
Company
ideaForge
What it does
Drone maker for defence and enterprise
Kind
Funding
Amount
₹500 Cr
Stage
post-IPO
Based in
Navi Mumbai
Founded
2007
Sector
AI & Deep Tech

What they do

IdeaForge builds drones for defence forces and government agencies

What happened

The board approved raising up to ₹500 crore via equity or debt

Why it matters

Q4 revenue jumped 594% as the stock hit a new high

The details

  • The board of ideaForge Technology approved a fundraise of up to ₹500 crore.
  • This amount equals approximately $500 million in USD.
  • The company can raise money through equity or debt instruments.
  • Routes include QIP, preferential allotment, and private placement.
  • A Fund-Raising Committee will decide the specific terms.
  • Shareholder approval is pending via postal ballot notice.
  • Q4 FY26 core revenue rose 594% year-on-year.
  • Consolidated profit after tax was ₹60.95 crore.
  • Full-year net loss narrowed by 73% to ₹17 crore.
  • Stock price hit a 52-week high of ₹898.60.
  • Market capitalization reached ₹3,898.81 crore at the high.
  • Year-to-date stock gain stands at 82.6%.

The bigger picture

  • The fundraise comes after strong financial performance in Q4.
  • Revenue growth signals rising demand for drone systems.
  • The company has expanded its global footprint significantly.
  • NATO and Japan orders support international expansion plans.

About the business

  • IdeaForge manufactures unmanned aerial vehicles (UAVs) for defence.
  • It supplies drones to government agencies and enterprises.
  • Products include electronic warfare-resilient drone systems.
  • Offerings feature loitering munitions and long-range strike systems.
  • R&D hubs are located in Navi Mumbai and Bengaluru.
  • Manufacturing operations exist in Delhi and the USA.
  • Global engagements include orders from NATO countries.
  • Japan has also placed orders with the company.
  • Total end-customer flights reached 2.5 lakh in FY26.
  • 40% of open orders were converted in Q4.

What happens next

  • Board will finalize terms through the Fund-Raising Committee.
  • Company seeks shareholder approval via postal ballot.
  • Proceeds will likely support R&D and manufacturing expansion.

The deal

Type
fundraise

Founders

  • Ankit Mehta, CEO & whole-time director
  • Ashish Bhat, Co-founder
  • Rahul Singh, Co-founder
  • Vipul Joshi, Co-founder
  • Amardeep Singh, Co-founder

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