Mumbai, June 23, 2025: In a significant development for India's defense technology ecosystem, ideaForge Technology Limited (NSE: IDEAFORGE | BSE: 543932) has announced the receipt of a ₹137 crore order from the Ministry of Defence to supply Mini Unmanned Aerial Vehicles (UAVs) along with accessories.

The order will be executed over a 12-month period, and ideaForge will be responsible for delivering the complete UAV package as per defense-grade specifications.

Regulatory Filing Details

This update was disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and aligned with SEBI circular SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023.

The official intimation was signed by Mr. Nilesh Ranjan Jaywant, Company Secretary and Compliance Officer of ideaForge Technology Limited.

About ideaForge Technology Limited

Founded in 2007 and headquartered in Navi Mumbai, ideaForge is one of India's leading drone manufacturers, specializing in tactical and surveillance UAVs. The company serves sectors including:

• Defence & Homeland Security

• Agriculture

• Mining

• Infrastructure inspection

• Disaster response

The latest order cements ideaForge’s position as a trusted technology partner for the Government of India, especially in mission-critical applications.

What Are Mini UAVs?

Mini UAVs (Unmanned Aerial Vehicles) are compact, lightweight drones typically used for:

• Tactical reconnaissance

• Border patrol

• Disaster management

• Real-time surveillance

ideaForge’s drones are known for high endurance, autonomous operations, rugged build, and real-time data transmission, making them highly suitable for defense-grade requirements.

Industry Impact

This order aligns with India's growing emphasis on Atmanirbhar Bharat (self-reliant India) and the indigenization of defense technologies. The ₹137 crore contract underscores the Ministry of Defence’s trust in domestic drone manufacturers to deliver state-of-the-art technology.

It also sets the stage for:

• Future scale-up opportunities for ideaForge

• Boost in revenue and order book visibility

• Strengthening of India’s surveillance and tactical capabilities using indigenous drones

Stock Market Perspective

With increasing interest in drone stocks following the government’s supportive policies and global demand surge, this announcement is expected to have a positive impact on ideaForge’s stock sentiment in the near term.

Disclaimer

This article is for educational and informational purposes only. It does not constitute investment advice. IPO investments are subject to market risks, and the Grey Market Premium is not officially regulated. Investors are advised to consult a SEBI-registered financial advisor before investing.

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