India’s Leading Drone Maker ideaForge Files for IPO, Poised for Historic Listing on Domestic Stock Exchanges

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ideaForge's UAVs are equipped with industry leading specifications and capabilities, comparable to those of other established global players in the UAV industry

Mumbai-based drone maker, ideaForge has filed papers with the market regulator, the Securities and Exchange Board of India (SEBI) to raise capital through an initial public offering (IPO). If the plans are successful, it would be the first-ever listing by a drone maker on the main board of the Indian stock exchanges. The company has been backed by the likes of Qualcomm and Infosys and was co-founded by former Blackstone executive Mathew Cyriac and IIT Bombay alumni.

IdeaForge, a Mumbai-based drone maker, has taken a major step towards raising capital and unlocking value through an initial public offering (IPO). The company, which is known for its expertise in designing and manufacturing unmanned aerial vehicles (UAVs) for a variety of applications, has filed papers with the Securities and Exchange Board of India (SEBI) to launch its IPO.

If successful, this would be the first-ever listing by a drone maker on the main board of the Indian stock exchanges and a landmark moment for the drone industry in India. The move to go public comes amid increasing demand for drone technology in fields such as mapping, security, and surveillance, and is expected to provide a significant boost to the company’s growth and expansion plans.

IdeaForge is a vertically integrated firm that designs and manufactures drones for a range of applications including mapping, security, and surveillance. The company gained widespread recognition after one of its prototypes was featured in the Bollywood hit movie, “3 Idiots”. The unmanned aerial vehicle (UAV) caught the attention of the Defence Research and Development Organization (DRDO) and has since become a market leader in the defence and homeland security UAV segment in India.

Ace investor Shankar Sharma-backed Droneacharya Aerial Innovations made a successful debut on the BSE SME platform in December 2022. The listing by ideaForge is expected to raise much-needed capital for the company, allowing it to further develop and expand its operations. The listing of ideaForge on the Indian stock exchanges is a significant development in the drone industry, and it will be closely watched by investors and industry experts alike. The company’s expertise and market leadership position in the defence and homeland security UAV segment makes it a promising investment opportunity.

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