Latest news with #ideaForge
The Print
6 days ago
- Business
- The Print
ideaForge bags Rs 137 cr deal to supply surveillance drones battle-tested during Op Sindoor to Army
ideaForge said the contract was awarded following a stringent evaluation process that placed emphasis on performance, security, and supply chain integrity. The hybrid Mini UAV is a fixed-wing VTOL (Vertical Take-Off and Landing) platform, designed for rapid deployment in complex terrains and contested environments. The drones, which were battle-tested during Operation Sindoor for intelligence, surveillance and reconnaissance (ISR) missions, will be delivered within 12 months to meet immediate operational needs, the company said in a statement. New Delhi: The Indian Army has signed a Rs 137 crore contract with Mumbai-based unmanned aerial vehicle (UAV) manufacturer ideaForge through the emergency procurement route, for the supply of hybrid Mini UAV systems. A key requirement during the selection process was that critical subsystems be sourced only from non-border-sharing nations, in line with the defence ministry's ongoing efforts to limit foreign dependencies, especially on Chinese-origin components and promote domestic manufacturing. As ThePrint reported in March, the government has been working to finalise a framework that restricts Chinese components in UAVs deployed in sensitive operational areas, particularly along India's northern and eastern borders. Drones with Chinese embedded components have been flagged as a serious concern by the defence establishment. ideaForge noted that its UAVs underwent 'a rare and rigorous validation process' involving two separate high-level technical committees formed after the trials. These panels conducted multiple factory visits, physically and digitally stripping down each UAV unit to verify the origin of every critical component, assess embedded security architecture, and confirm supplier credibility. According to the company, a crucial aspect of the evaluation was to ensure exclusion of components from countries sharing land borders with India, aligning with policy guidelines that favour indigenous platforms and trusted sourcing. The hybrid Mini UAV has already received the 'Fit for Indian Military Use' certification from the Directorate General of Quality Assurance (DGQA), a certificate given only to systems that meet stringent standards of operational resilience, reliability and combat-readiness. The platform was also deployed during Operation Sindoor, where it was used by the Indian Army in live ISR operations. The performance of the UAV in real-world conditions was cited in the statement as a key factor that validated its technological robustness and mission utility. Ankit Mehta, co-founder and CEO of ideaForge, added, 'This emergency procurement for counter-insurgency and counter-terrorism operations reaffirms our commitment to building reliable, mission-critical UAVs in India. It is a matter of pride that our platforms are not just made in India, but are built to serve India under the toughest operational scenarios, supported by a trusted and resilient supply chain,' Mehta said. The order is part of the sixth edition of the emergency procurement drive, which Defence Secretary Rajesh Kumar Singh confirmed on Friday. The government had approved the drive worth around Rs 40,000 crore in mid-May under which the services can fast-track the delivery of critical weapons systems, ammunition and surveillance platforms identified as urgent requirements post-Operation Sindoor. (Edited by Viny Mishra) Also read: Just protecting borders from drone attacks isn't enough. Look at Ukraine & Russia
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Business Standard
6 days ago
- Business
- Business Standard
IdeaForge Technology secures ₹137 crore drone order from Indian Army
Drone technology firm ideaForge Technology has secured an order worth about Rs 137 crore for hybrid mini unmanned aerial vehicles systems from the Indian Army through the emergency procurement route, the company said on Monday. ideaForge said a key requirement during the assessment for the selection of unmanned aerial vehicles (UAV) was that all critical sub-components must be sourced from non-border-sharing nations, and that the platform be substantially indigenous in capability and design. "ideaForge Technology has secured a significant win through the emergency procurement route. The order, valued at approximately Rs 137 crore, has been placed by the Indian Army for its high-performance hybrid Mini UAV systems, which are already battle-tested and inducted into the Army's inventory for ISR (Intelligence, Surveillance, and Reconnaissance) operations, the company said in the statement. The company has its research and development and manufacturing units in Navi Mumbai, Bengaluru, Delhi, and the US. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Mint
6 days ago
- Business
- Mint
ideaForge share price: Drone stock hits upper circuit after THIS order book update
Small-cap drone maker ideaForge Technology's stock hit its upper circuit on Monday, 23 June 2025, after the company announced that it had bagged a mini drone manufacturing order worth ₹ 137 crore from the Ministry of Defence, according to an exchange filing. The order details show that the company will supply the Mini UAVs (drones) with their accessories within a time period of 12 months. 'This is to inform you that ideaForge Technology Limited has received an order worth approx ₹ 137 Crores (all inclusive) to supply Mini UAVs with accessories to Ministry of Defence,' said the company in the BSE filing. ideaForge is a Mumbai-based manufacturer of Unmanned Aircraft Systems (UAS) or drones for security, surveillance, and other purposes. Shares of the drone maker also surged more than 8 per cent in the second week of June as Israel's military strikes on Iran spiked the investors' interest in defence-related stocks. ideaForge shares surged during Monday's stock market session, hitting its upper circuit after gaining 10 per cent to ₹ 631.65 during the intraday session. Shares closed 10 per cent higher at ₹ 631.65, compared to ₹ 574.25 in the previous market close. The drone maker released the information on the Ministry of Defence drone order book update during the mid-stock market session on 23 June 2025. The stock has lost 51.27 per cent since its listing on the Indian stock market in July 2023. In the last one-year period, ideaForge shares are down 22.48 per cent. However, on a year-to-date (YTD) basis in 2025, the shares have gained 1.07 per cent, and are trading 19.78 per cent higher in the last one-month period. ideaForge shares hit their 52-week high levels at ₹ 864.10 on 12 July 2024, while the 52-week low level was at ₹ 301 on 7 April 2025, according to data collected from the BSE. The company's market capitalisation (M-Cap) was at ₹ 2,727.14 crore as of the stock market close on Monda, 23 June 2025. Read all stories by Anubhav Mukherjee Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Economic Times
6 days ago
- Business
- Economic Times
IdeaForge bags around Rs 137 crore drone order from Indian Army
Drone technology firm ideaForge Technology has secured an order worth about Rs 137 crore for hybrid mini unmanned aerial vehicles systems from the Indian Army through the emergency procurement route, the company said on Monday. ideaForge said a key requirement during the assessment for the selection of unmanned aerial vehicles (UAV) was that all critical sub-components must be sourced from non-border-sharing nations, and that the platform be substantially indigenous in capability and design. "ideaForge Technology has secured a significant win through the emergency procurement route. The order, valued at approximately Rs 137 crore, has been placed by the Indian Army for its high-performance hybrid Mini UAV systems, which are already battle-tested and inducted into the Army's inventory for ISR (Intelligence, Surveillance, and Reconnaissance) operations," the company said in the statement. The company has its research and development and manufacturing units in Navi Mumbai, Bengaluru, Delhi, and the US.
Business Standard
6 days ago
- Business
- Business Standard
Ideaforge Tech hits the roof on bagging Rs 137-cr defence order for Mini UAVs
Ideaforge Technology hit an upper limit of 10% at Rs 631.65 after the company secured an order worth approximately Rs 137 crore, inclusive of all charges to supply Mini UAVs with accessories to Ministry of Defence. As per the significant terms and conditions, the delivery is to be completed within 12 months. The promoter, promoter group, and group companies have no interest in the entity that awarded the order. Additionally, the order does not fall within related party transactions. Ideaforge Technology (ideaForge) is the pioneer and the pre-eminent market leader in the Indian unmanned aircraft systems (UAS) market. It had the largest operational deployment of indigenous UAVs across India.
