ideaForge Technology Ltd. has announced the receipt of a significant order worth approximately Rs 137 crore from the Ministry of Defence. The order, awarded under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, involves the supply of Mini Unmanned Aerial Vehicles (UAVs) along with accessories.
The contract is domestic in nature and is to be fulfilled within a 12-month period. This marks a notable achievement for ideaForge, reinforcing its position as a leading player in India's drone and UAV manufacturing sector.
The company confirmed that there is no promoter or related party interest involved in the awarding entity, and the transaction does not fall under related party transactions.
This order adds to ideaForge’s growing defence portfolio and highlights the increasing adoption of indigenous drone technology by India's armed forces.