IdeaForge Technology Ltd: A Surge in Stock Prices Following a Major Defence Order

On June 23, 2025, IdeaForge Technology Ltd, an India-based company specializing in unmanned aircraft systems (UAS), experienced a significant surge in its stock prices. The company, listed on the National Stock Exchange of India, saw its shares locked at the 10% upper circuit at ₹631.65 on the BSE. This remarkable increase was primarily driven by the company securing a substantial defence order worth approximately ₹137 crore for Mini unmanned aerial vehicles (UAVs) and accessories, destined for the Ministry of Defence.

Key Highlights:

  • Defence Order: The order for Mini UAVs, which includes various accessories, marks a significant milestone for IdeaForge Technology Ltd, reinforcing its position in the defence sector.

  • Stock Performance: The company’s shares experienced a notable rally, leading the gainers in the ‘A’ group on the BSE. This surge occurred amidst a generally weak market, highlighting the positive investor sentiment towards IdeaForge following the defence contract announcement.

  • Market Reaction: The rally was not isolated to IdeaForge alone; other private defence companies such as Apollo Micro Systems, ZEN Technologies, Paras Defence and Space Technologies, and Avantel also saw their shares increase by up to 10% during the intra-day trade.

Company Overview:

IdeaForge Technology Ltd operates within the unmanned aircraft systems market, focusing on the manufacturing and marketing of unmanned aerial vehicles (UAVs) for security and surveillance purposes. The company’s product portfolio includes a range of UAVs, payloads, battery systems, communication systems, and ground control stations. Additionally, it offers drone operations as an on-demand or subscription service under the DaaS model.

Financial Snapshot:

  • Close Price (June 19, 2025): ₹573.7
  • 52 Weeks High: ₹864.4 (July 28, 2024)
  • 52 Weeks Low: ₹304.2 (April 6, 2025)
  • Market Cap: ₹24,320,000,000 INR
  • Price Earnings Ratio: -39.87

The recent developments surrounding IdeaForge Technology Ltd underscore the company’s growing influence in the defence sector and its potential for future growth. The significant defence order not only boosts the company’s financial outlook but also enhances its reputation as a key player in the UAV market.