Ideaforge: The Indian Drone Maker That Soared on Its IPO

Ideaforge Technology Ltd., India’s leading drone maker, had a successful IPO on June 26, 2023. The IPO was subscribed 111.35 times, with bids for 6,361.57 crore shares against the offer size of 567 crore shares.

Journey of Ideaforge

• 2007: Ideaforge was founded by IIT Bombay graduates Ankit Mehta, Ashish Bhat, Rahul Singh, Vipul Joshi, and Amardeep Singh.
• 2009: The company launched its first drone, the “Ghatak”.
• 2010: Ideaforge won the “Raksha Mantri’s Award” for its work on the Ghatak drone.
• 2012: The company launched its first commercial drone, the “Drishti”.
• 2014: Ideaforge was awarded the “Drone Grand Challenge” by the Government of India.
• 2015: The company launched its “IdeaForge Academy” to train drone pilots and operators.
• 2016: Ideaforge was selected as one of the “Top 100 Drone Companies in the World” by Drone Industry Insights.
• 2020: The company launched its “IdeaForge Labs” to develop new drone technologies.
• 2023: Ideaforge’s IPO was subscribed 111.35 times, making it one of the most successful IPOs in India.

Ideaforge has come a long way since its inception in 2007. The company has grown to become one of the leading drone manufacturers in India. Ideaforge’s drones are used by the Indian military, police, and other government agencies. The company also has a growing customer base in the commercial and industrial sectors.

Ideaforge is well-positioned to continue to grow in the coming years. The global drone market is expected to grow rapidly in the next few years. Ideaforge is well-positioned to capitalize on this growth, as it has a strong track record and a wide range of products and services.

The company’s IPO will give Ideaforge the resources it needs to grow its business and expand its market reach. Ideaforge is well-positioned to become a leading player in the global drone industry.

The company’s IPO was well-received by investors, who were attracted to its strong growth prospects. Ideaforge’s revenue grew by 50% in FY22, and the company is expected to continue to grow rapidly in the coming years. The IPO also gave investors a chance to own a piece of a leading Indian drone maker.

Ideaforge’s IPO is a significant milestone for the Indian drone industry. The company’s success shows that there is a growing market for drones in India. It is also a sign of the government’s commitment to promoting the drone industry.

The government has set a target of making India a drone hub by 2025. The government has been providing financial incentives to drone companies, and it has also been easing regulations. These measures have helped to create a favorable environment for the drone industry in India.

Ideaforge is well-positioned to benefit from the growth of the Indian drone industry. The company has a strong track record, and it has a wide range of products and services. Ideaforge is also backed by a strong management team.

Ideaforge’s IPO

The company’s IPO is a major step forward for Ideaforge. It will give the company the resources it needs to grow its business and expand its market reach. Ideaforge is well-positioned to become a leading player in the global drone industry.

Here are some of the factors that contributed to Ideaforge’s IPO success:

• The company’s strong growth prospects.
• The growing market for drones in India.
• The government’s commitment to promoting the drone industry.
• Ideaforge’s strong track record and experienced management team.

The IPO’s success is a major milestone for Ideaforge and the Indian drone industry. It is a sign of the growing demand for drones in India and the government’s commitment to promoting the industry. Ideaforge is well-positioned to benefit from the growth of the drone industry in India and become a leading player in the global market.