ideaForge launches Rs 500 crore QIP after strong Q4, eyes expansion into combat drones and logistics

ideaForge Technology launched a qualified institutional placement to raise up to Rs 500 crore, with a floor price of Rs 835.86 per share.

Proceeds will be used for working capital (Rs 165 crore), debt repayment (Rs 120 crore), and product development (Rs 90 crore).

The company plans to expand into combat drones, including precision-strike capabilities and loitering munitions, through partnerships and in-house development.

ideaForge is developing YETI, a middle-mile logistics platform targeting military and heavy-logistics use cases initially.

Q4 FY26 revenue rose to Rs 141 crore from Rs 20.3 crore year-on-year, with PAT of Rs 60 crore and a 42.5% margin.