ideaForge Soars 10% After ₹137 Crore Defence Order for Mini UAVs
Shares of ideaForge Technology Limited surged nearly 10% on the BSE, hitting ₹631.65, after the company announced a significant order from the Ministry of Defence worth approximately ₹137 crore for the supply of Mini Unmanned Aerial Vehicles (UAVs) with accessories.
The order, which is expected to be fulfilled within 12 months, marks a major milestone for ideaForge in strengthening its role in India’s defence technology ecosystem. The stock opened at ₹572.05 and climbed steadily throughout the day, reflecting strong investor enthusiasm following the announcement.
Order Details:
- Customer: Ministry of Defence (India)
- Order Value: ₹137 crore (all inclusive)
- Deliverables: Mini UAVs with accessories
- Timeline: 12 months
- Transaction Nature: Domestic, not a related party deal
- Order Details
Market Reaction:
- Previous Close: ₹574.25
- Opening Price: ₹572.05
- Day’s High: ₹631.65 (+9.99%)
Company Statement:
In a regulatory filing, the company’s Company Secretary and Compliance Officer, Nilesh Ranjan Jaywant, confirmed the order and emphasized the company’s commitment to delivering cutting-edge drone solutions to support India’s defence capabilities. This latest development reinforces ideaForge’s market position as a trusted supplier of indigenous UAVs and highlights growing government confidence in India’s domestic drone manufacturing sector.
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