ideaForge shares hit 52-week high on announcing ₹500 crore fundraise via QIP, preferential issue

The stock was trading 5% higher at ₹900 per share, its upper circuit level, on the National Stock Exchange (NSE). Its market capitalisation stood at ₹3,904.89 crore.

The scrip has gained 6.47% in the past week and 23.12% in a month. Year-to-date, it has advanced 93.90%.

In an exchange filing on June 3, ideaForge announced that its board has approved a fundraise of up to ₹500 crore via preferential allotment and a qualified institutional placement (QIP).

The company, in a regulatory filing, said its board "approved raising of funds for an aggregate amount of up to and not exceeding ₹5,000.00 million (Rupees Five Thousand million only) (inclusive of such premium or discount to face value as may be fixed on such Securities) by way of issuance of any instrument or security for cash, with or without green shoe option including equity shares, preference shares, fully or partly convertible debentures, non-convertible debentures along with warrants, any other equity based securities or any combination or any other eligible securities thereof in one or more tranches and/or one or more issuances, simultaneously or otherwise, including by way of preferential allotment or a private placement, qualified institutions placement(s) and/or any combination thereof or any other method as may be permitted in accordance with the applicable provisions of the Companies Act, 2013."

ideaForge Q4 results

The company had posted a consolidated net profit of ₹60 crore in the final quarter of the financial year 2025-26, compared to a net loss of ₹25.70 crore a year back.

Its revenue from operations increase increased multifold to ₹141 crore in Q4 FY26 as against ₹20.3 crore in the sale period last year.

The company said that it received orders worth ₹530 crore from defence and civil customers in the financial year 2026.

"On the development side, the company indicated that it is expanding beyond ISR and is actively developing combat drones like long-range strike platforms, loitering munitions, and kamikaze through in-house development and strategic partnerships to participate in and capture upcoming large opportunities by the Indian defence forces," ideaForge said.