ideaForge’s Board Greenlights Plans To Raise ₹500 Cr
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Dronetech company ideaForge’s board has approved a proposal to raise up to ₹500 Cr in its meeting held today (June 3). The company plans to undertake preferential allotment, private placement or a qualified institutions placement (QIP), in one or more tranches, to raise the funds.
The proposed fundraise will be subject to shareholder approval and other necessary regulatory clearances. The company did not disclose when or at what price the securities would be issued.
The board decision comes weeks after ideaForge disclosed its financial performance for Q4 FY26.
ideaForge bounced back into profitability in the March 2026 quarter reporting a net profit of ₹59.9 Cr in Q4 FY26 against a net loss of ₹25.7 Cr in the year-ago quarter
It reported its highest quarterly operating revenue in the quarter, with its top line skyrocketing 6X YoY and 3.5X QoQ to ₹141 Cr.
During the earnings call, CEO Ankit Mehta labelled FY26 as the company’s strongest-ever since inception.
Throughout the fiscal year, Mehta said that ideaForge booked about ₹530 Cr in orders and converted nearly 40% of its open order book into revenue in Q4 despite supply chain disruptions triggered by geopolitical tensions.
The company highlighted growing customer adoption of its electronic warfare-resilient drone systems, alongside advances in next-generation UAV platforms.
In the March quarter, it also expanded into combat drone capabilities such as loitering munitions and long-range strike systems, while strengthening its global footprint through orders and defence engagements in the US, NATO and Japan.
Mehta said that ideaForge was able to register an improvement in demand due to evolving market conditions over the recent past. For ideaForge, a growing need of tech-oriented defence solutions aligned with its long-term investments in deep R&D over the past years. It is pertinent to note that the company has now set up advanced R&D and manufacturing hubs in Navi Mumbai, Bengaluru, Delhi, and the USA.
The ₹500 Cr raise is likely aimed at scaling these advanced defence technologies, manufacturing capacity and international expansion.
Shares of ideaForge ended today’s trading session 3.42% higher at ₹855.85 on the BSE.
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