Bidding Dates

To be announced

Minimum Investment

To be announced

Price Range

To be announced

Maximum Investment

To be announced

Retail Discount

To be announced

Issue Size

₹300 crore

Investor category and sub category

To be announced

About Ideaforge Technology Ltd. IPO

Ideaforge Technology is a leader in the Indian unmanned aircraft segment with a 50% market share (fiscal 2022). According to a 1 Lattice Report, Ideaforge Technology is the 7th largest in the world in the dual-use category (Civil & Defence) of drone manufacturing.

The company conducted the largest operational deployment of indigenous UAVs in India completing 300,000 flights as of December 31, 2022.

Ideaforge manufactures drones used for surveillance and mapping. They are also the first company to develop vertical take-off and landing capabilities internally.

Ideaforge engages in investing, designing, and delivering customer-centric UAV products through a vertically integrated model. Being one of the first few players in the domain, they have introduced innovations in technology and design. The company showcased their 5G-enabled UAVs at the Indian Mobile Congress in 2018. They are among the few OEMs having proprietary autopilot sub-system and ground control software.

Financially, the company’s revenue from operations had grown at 237.48% CAGR in the last three fiscals.

Ideaforge Technology Ltd. IPO Objective

The company proposes to utilise the net proceeds from the offer to fund the following objects.

  • Repayment or prepayment of certain loans
  • To meet working capital requirements and invest in product development
  • General corporate purposes

Should you invest in Ideaforge Technology Ltd.?

Here are the top reasons to consider before investing in Ideaforge Technology Ltd. IPO.

  • Drone technology is a sunrise industry, with India having huge potential to become the drone hub of the world. The global industry has grown at 19% CAGR from 2018 to 2022.
  • They have a diversified product portfolio for UAVs, including building the full software stack for flight safety, autopilot sub-system, battery, power and communication systems for their UAVs.
  • They have filed 62 patents, including 28 patents filed in India and 38 patents filed internationally.
  • The company is backed by eminent investors such as Infosys Ltd, Qualcomm, and Asia Pacific Pte. Ltd.

Competitive Peers

No company exclusively operates in the same business line of Ideaforge Technologies.

Ideaforge Technology Ltd. Noteworthy highlights

  • The company recorded 49.63% returns on capital employed in Fiscal 2022.
  • Their revenue from operations increased from Rs. 139.99 million in 2020 to Rs. 1,594.39 million in Fiscal 2022, recording 11.39x growth.

IPO Financials

Particulars Period ending on September 30, 2022 Year ending on March 31, 2022 Year ending on March 31, 2021
Revenue from Operations 1,395.48 1,594.39 347.18
Profit After Tax (PAT) 452.12 440.06 146.26
PAT Margin 32.40% 27.60% 42.13%
EBITDA 659.52 751.31 92.51
EBITDA Margin 47.26% 47.12% 26.65%

Know before investing



The company is a pre-eminent market leader in the Indian UAV space having indigenous technology and an in-house manufacturing facility.

They are one of the few vendors to have full-stack UAV solutions.

They serve a diverse base of 265 customers.



The industry in India is highly regulated, and failing to comply with regulations may impact the company’s operational and financial performance.

Investors should invest with knowledge and understanding of the industry.

The industry requires fulfilling significant licensing requirements.

  • How to Apply in IPO
  • How to Check IPO Allotment Status

Login to Angel One App / Website & click on IPO

Select desired IPO & tap on "Apply"

Enter UPI ID, set quantity/price & submit

Accept mandate on the UPI app to complete the process

Login to Angel One App / Website

Choose IPO section on Home Page

Click IPO Orders

Chose the IPO application you want to view the status for

What is Ideaforge Technology Ltd. IPO?

Ideaforge Technologies IPO combines a fresh issue size of Rs 300 crore and an offer for the sale of 4,869,712 equity shares.

When will Ideaforge Technology Ltd. IPO allotment be available?

Will be updated soon.

What will be the Ideaforge Technology Ltd. IPO lot size?

Will be updated soon.

When will Ideaforge Technology Ltd. IPO open for subscription?

Will be updated soon.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for a minimum of one lot.

When will Ideaforge Technology Ltd. list on exchanges?

Will be updated soon.

How to check the allotment status of the Ideaforge Technology Ltd. IPO?

You can check the IPO share allotment status on Angel One’s mobile app. Log in to the app and validate with OTP.  

To check the allotment status, enter your application number, DP ID, and PAN number into the app.

What would be the listing gains on the Ideaforge Technology Ltd. IPO?

Listing gains cannot be measured before the listing of the IPO on the stock exchange.

I have finished the application process for Ideaforge Technology Ltd. IPO, but the funds are not yet debited. What is the reason?

Under the new system, the bank will block the amount initially in your account. The money will be debited when the shares are allotted or the bank will unblock the amount after the UPI mandate expiry date.

How to approve the UPI mandate request for Ideaforge Technology Ltd. IPO?

Login to your UPI handle to approve the payment mandate and complete the IPO application process.

Can I submit more than one application for the public issue of Ideaforge Technology Ltd. using one PAN?

You are allowed to submit only one application using one PAN card.

What is the minimum order quantity for Ideaforge Technology Ltd. IPO?

Will be updated soon.