Ideaforge Share Price Hits 10% Upper Circuit After ₹137 Crore Order from Ministry of Defence

India’s defence and aerospace sector has found itself in sharp focus amid rising security needs and evolving warfare technology. While the broader equity markets traded in the red on June 23, 2025, a notable exception was Ideaforge Technology, which surged sharply after announcing a significant order from the Ministry of Defence. 

Defence Order Boosts Sentiment Around UAV Capabilities

The ₹137 crore contract marks a major milestone for Ideaforge, reinforcing its position as a key supplier in the unmanned aerial systems space. The company’s product portfolio includes a range of drones such as SWITCH UAV, Q Series drones, and megaphone-equipped UAVs used for applications like surveillance, inspection, mapping, and security.

Global Momentum Builds With US Demonstration And Grant

Ideaforge’s visibility is not limited to Indian defence corridors. In the last quarter, the company conducted its first demonstration for the United States defence forces under its Early Adopter Program. Management reports encouraging traction, with multiple US police departments actively evaluating Ideaforge drones for operational deployment.

Additionally, Ideaforge was selected to receive a grant to showcase its technology at a prominent US event, underscoring the international appeal and relevance of its product offerings.

Strategic Push For Global Expansion And New Product Lines

To further diversify its presence, Ideaforge is developing newer drone categories aimed at both defence and civilian applications. At Aero India 2025, the company launched ZOLT, a tactical UAV designed for long-range ISR (intelligence, surveillance, and reconnaissance) missions.

ZOLT is equipped with advanced capabilities such as foliage-penetrating radar, LiDAR, and precision payload delivery features. This innovation has sparked commercial interest, especially from prospective clients in the United States.

The recent Free Trade Agreement between India and the UK is also seen as a positive trigger for Ideaforge, enhancing market accessibility and competitiveness across Europe.

Read More: Defence Stocks Rally up to 8% as US Strikes Iran; Apollo Micro, ideaForge Lead Surge! 

Ideaforge Share Price Hits 10% Upper Circuit

As of 12:06 PM on June 23, Ideaforge share price was locked in a 10% upper circuit on NSE. The sharp move followed a press release where the company confirmed it had received a ₹137 crore order from the Ministry of Defence. The order includes the supply of Mini UAVs and accessories, with deliveries expected to be completed within 12 months.

Conclusion

While India’s equity markets remain under pressure, select defence and aerospace stocks like Ideaforge continue to attract attention with their strategic initiatives, government contracts, and expanding global footprint. With growing recognition of the importance of UAVs in national and international security frameworks, Ideaforge’s role in this evolving landscape is one to watch closely.

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