ideaForge gets board nod to raise up to Rs 500 Cr through QIP
- ByStartupStory | June 8, 2026
Drone manufacturing company ideaForge Technology has received board approval to raise up to Rs 500 crore through a mix of equity and debt instruments, according to a stock exchange filing on Wednesday.
The Navi Mumbai-based company said its board approved fundraising of up to Rs 500 crore through one or more tranches. The proposed raise may be carried out via a qualified institutional placement (QIP), preferential allotment, private placement, or other permissible routes, subject to shareholder and regulatory approvals.
The company said the funds could be raised through equity shares, preference shares, convertible or non-convertible debentures, warrants, or a combination of eligible securities.
The fundraising move comes at a time when ideaForge is witnessing growing opportunities in the defence and surveillance drone segment. The company has been expanding its product portfolio and strengthening its position in the domestic drone market while also exploring export opportunities.
Listed on the stock exchanges in 2023, ideaForge is a drone manufacturer and supplies unmanned aerial vehicle (UAV) solutions to defence forces, government agencies, and enterprise customers.
On the financial front, during the quarter ending March 2026, the drone maker reported a nearly seven-fold increase in revenue to Rs 141 crore and posted a profit of Rs 60 crore, compared to a loss of Rs 25.7 crore in the corresponding quarter of the previous fiscal year. For the full fiscal year (FY26), the company recorded revenue of Rs 226 crore.
The company ended Wednesday’s trading session at Rs 860 per share, giving it a market capitalisation of approximately Rs 3,731 crore.
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