ideaForge Technology Limited has successfully completed a ₹500 crore Qualified Institutional Placement (QIP), attracting strong participation from leading domestic and international institutional investors. The fundraise marks an important milestone in the company’s growth journey as it looks to accelerate innovation, expand its product portfolio and strengthen execution across defence and civil markets.
The company allotted 62.89 lakh equity shares at an issue price of ₹795 per share, representing a 4.89 per cent discount to the SEBI-determined floor price. Prominent investors participating in the issue include 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, among others.
The proceeds from the QIP will primarily be used to support the company’s next phase of growth and augment working capital.
Commenting on the fundraise, Ankit Mehta, Co-founder & CEO, 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.”
The QIP comes amid a strong year for ideaForge, with the company reporting robust order inflows, healthy execution across defence and civil sectors, and continued investments in indigenous UAV technologies. Building on its leadership in intelligence, surveillance and reconnaissance (ISR) platforms, ideaForge is expanding into combat drones, logistics platforms, autonomous mission systems and electronic warfare-resilient technologies to meet the evolving requirements of domestic and global markets.
