Drone manufacturer ideaForge launches capital raise via QIP

Indian drone technology firm ideaForge launched a Qualified Institutional Placement (QIP) on Friday to raise fresh capital. The company's fundraising committee approved a floor price of ₹835.86 per equity share, slightly below its closing price on Thursday.

The company intends to use the funds for working capital requirements, repayment of outstanding borrowings, and product development. Approximately ₹165 crore is earmarked for working capital, ₹120 crore for debt repayment, and ₹90 crore for R&D. Remaining proceeds will be allocated for general corporate purposes.

ideaForge is enhancing its product portfolio by developing advanced offensive and logistics capabilities. This includes plans to introduce precision strike capabilities for its multirotor drones through partnerships and the development of a large eVTOL hybrid cargo platform named Yeti.

The fundraising follows a significant turnaround in the company's financial performance. ideaForge returned to profitability in the quarter ending March 2026, reporting a net profit of ₹59.9 crore against a net loss of ₹25.7 crore a year prior. Operating revenue surged multifold to ₹141 crore, marking its highest-ever quarterly revenue.