ideaForge Technology Limited, a leading Indian manufacturer of unmanned aerial vehicles (UAVs), has secured a significant order from the Ministry of Defence valued at approximately ₹137 crore (all inclusive). The order entails the supply of Mini UAVs along with accessories, with delivery scheduled to be completed within the next 12 months.
The company disclosed the development pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and in line with SEBI’s circular dated July 11, 2023. The order is classified as a domestic contract and does not fall under the category of related party transactions.
This deal marks another milestone for ideaForge, reinforcing its position as a key player in India’s indigenous defence technology sector. The contract is expected to strengthen the company’s order book and contribute to its top-line growth over the coming financial year.
ideaForge, known for its innovation in UAV solutions, has been at the forefront of supplying drone-based technologies to both defence and civilian sectors. The company’s drones are widely used for surveillance, reconnaissance, and mapping operations, with a growing presence in domestic and international markets.