The company plans to use the proceeds from the issue for debt repayment, funding its working capital gap, investment in product development, and general corporate purposes.
Earlier, the company approved the opening of its qualified institutional placement (QIP) and fixed the floor price at ₹835.86 per equity share. The approvals were granted by the company’s Fund Raising Committee, following the shareholders’ approval through a special resolution passed by postal ballot on July 4, 2026.
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The committee also approved and adopted the preliminary placement document dated July 7, 2026, along with the application form for the issue. The company has fixed July 7, 2026, as the relevant date for the QIP. Based on the prescribed pricing formula, the floor price has been determined at ₹835.86 per equity share.
In accordance with the shareholders’ approval, ideaForge said it may, at its discretion, offer a discount of up to 5% on the floor price. The company added that the issue price will be determined in consultation with the book-running lead managers appointed for the QIP.
How were ideaForge’s Q4 Results?
IdeaForge reported a net profit of ₹60 crore for the March quarter, compared to a net loss of ₹26 crore a year earlier. Revenue surged more than sevenfold to ₹141 crore from ₹20 crore in the year-ago quarter, aided by stronger execution of defence orders. EBITDA stood at ₹62 crore, compared to an EBITDA loss of ₹22 crore a year ago.
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The company said 86% of its fourth-quarter revenue came from the defence segment, while the remainder was contributed by civil applications. It also indicated that it is expanding into the combat drone segment to participate in future procurement opportunities from the Indian armed forces.
Following the results, brokerage firm IIFL double-upgraded the stock to “Buy” from “Reduce” and raised its target price to ₹1,187 from ₹271 earlier, citing improved execution, a stronger order outlook and a turnaround in profitability.
Shares of ideaForge Technology Ltd ended at ₹840.00, down by ₹14.45, or 1.69%, on the BSE.
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(Edited by : Jomy Jos Pullokaran)
First Published: Jul 7, 2026 9:40 PM IST
