Drone Startup IdeaForge Surges 5% on Market Debut, Hits 52-Week High Following ₹500 Crore Fundraising Approval

ideaForge Technology Stock Hits 5% Upper Circuit, 52-Week High

ideaForge Technology's share price reached its 5% upper circuit of ₹898.60 on Thursday, June 4, marking a new 52-week high after the company's board approved a fundraise of ₹500 crore through the issuance of securities.

The decision was made at a meeting of the board of directors held on June 3. According to an exchange filing, the proposed fundraise, capped at ₹5,000 million (₹500 crore), may be undertaken through one or more tranches and across multiple fundraising routes. The company plans to issue various securities, including equity shares, preference shares, fully or partly convertible debentures, non-convertible debentures with warrants, equity-linked securities, or other eligible instruments permitted under applicable regulations.

The board has constituted a Fund-Raising Committee to oversee the process and determine the terms and conditions of the proposed issuance. The committee will also take necessary steps to implement the fundraising plan. The proposal remains subject to the receipt of necessary regulatory approvals, including shareholder approval, which will be sought through a postal ballot notice.

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ideaForge Technology Stock Performance

The stock has performed well in recent times, hitting its 52-week high of ₹898.60 in trade today. It has soared over 144% from its 52-week low of ₹367.95, hit in March 2026, giving multibagger returns. The drone stock has also risen 23% in the past 1 month, 98% in 3 months, and 53% in the last 1 year.

ideaForge Technology Q4 Results

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In its Q4 FY26 results, ideaForge Technology reported a consolidated profit after tax (PAT) of ₹60.95 crore for the January-March quarter, compared with a net loss of ₹25.92 crore in the corresponding period last year. The drone maker returned to profitability during the quarter, aided by a sharp increase in revenue from its core operations. On a consolidated basis, revenue from core operations surged more than 594% year-on-year to ₹141.04 crore in the fourth quarter of FY26, up from ₹20.31 crore in the year-ago period.

Looking ahead, ideaForge expects its drone business to play an increasingly important role in its operations. During FY26, the company added ₹530 crore to its order book.