Drone stock share price hit its 5% upper circuit of ₹898.60, also its 52-week high on Thursday, 4 June after the company’s board approved a fundraise of ₹500 crore through the issuance of securities.
The decision was approved by the board of directors at its meeting held on June 3.
According to the exchange filing, the proposed fundraise, capped at ₹5,000 million ( ₹500 crore), may be undertaken through one or more tranches and across multiple fundraising routes. The company said it could issue equity shares, preference shares, fully or partly convertible debentures, non-convertible debentures with warrants, equity-linked securities or any other eligible instruments permitted under applicable regulations.
“The Board of Directors… approved raising of funds for an aggregate amount of up to and not exceeding ₹5,000.00 million by way of issuance of any instrument or security for cash, with or without green shoe option,” the company said in its regulatory filing.
The company added that the fundraising may be executed through various routes, including preferential allotment, private placement, qualified institutional placement () or any other permissible method under applicable laws. The proposal remains subject to the receipt of necessary regulatory approvals, including shareholder approval.
The company has also issued a postal ballot notice seeking shareholder approval for the proposed capital raise.
To oversee the process, the board has constituted and authorised a Fund-Raising Committee. The committee will be responsible for determining the terms and conditions of the proposed issuance and taking necessary steps to implement the fundraising plan.
“In order to give effect to the above, the Board has constituted and authorized the Fund-Raising Committee of the Board to, inter-alia, decide the terms and conditions of the proposed fund raise,” the company said.
ideaForge Technology stock performance
The stock hit its 52-week high of ₹898.60 in trade today. It is now soared over 144% from its 52-week low of ₹367.95, hit in March 2026, giving returns.
The drone stock has also been positive in recent times. It has risen 23% in the past 1 month, 98% in 3 months and 53% in the last 1 year.
ideaForge Technology Q4
In its , ideaForge Technology reported a consolidated profit after tax (PAT) of ₹60.95 crore for the January-March quarter, compared with a net loss of ₹25.92 crore in the corresponding period last year.
The drone maker returned to profitability during the quarter, aided by a sharp increase in revenue from its core operations, according to the company’s exchange filing.
On a consolidated basis, revenue from core operations surged more than 594% year-on-year to ₹141.04 crore in the fourth quarter of FY26, up from ₹20.31 crore in the year-ago period.
Looking ahead, ideaForge expects its drone business to play an increasingly important role in its operations. During FY26, the company added ₹530 crore to its order book.
“As indicated, we executed 40% of our open orders in Q4, achieving our highest quarterly revenue ever, despite the major supply chain crisis owing to the recent geopolitical events. This achievement underscores the right sizing and resilience we have built across the value chain, from engineering to supply chain to manufacturing,” said Ankit Mehta, the CEO & whole-time director of IdeaForge.
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