ideaForge secures Rs 137 crore defence order from Ministry of Defence to supply Mini UAVs
ideaForge Technology Limited announced on June 23 that it has received a significant order worth approximately Rs 137 crore from the Ministry of Defence for the supply of Mini Unmanned Aerial Vehicles (UAVs) along with accessories. The order is expected to be executed within a 12-month period.
According to the company's regulatory filing, the contract is domestic in nature and does not fall under related-party transactions. It also clarified that no promoter or promoter group entities have any interest in the awarding body. The order involves a complete supply of Mini UAVs and associated accessories, marking another major step forward for ideaForge's contribution to India's defence capabilities.
ideaForge, headquartered in Navi Mumbai, is known for its indigenous drone manufacturing and has previously supplied UAVs for various strategic and surveillance applications.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
Ahmedabad Plane Crash
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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