ideaForge raises Rs 500 Cr via QIP

Drone technology company ideaForge Technology has raised Rs 500 crore through a qualified institutional placement (QIP) and plans to use the proceeds to fund its next phase of growth and strengthen its working capital. The company allotted a total of 62,89,308 equity shares of a face value of Rs 10 each at an issue price of Rs 795 per share, representing a discount of Rs 40.86 (4.89% of the floor price) determined as per market regulator SEBI guidelines, the company said in a statement.