ideaForge Technology Shares Rise Over 1% As Company Launches QIP

Mumbai, July 8: Shares of ideaForge Technology Limited rose as much as 1.15% to Rs 850.15 on Wednesday, a day after the drone maker’s board approved the launch of a qualified institutions placement (QIP) at a floor price of Rs 835.86 per share. Trading in the counter is still underway.

Shares of ideaForge opened the day at Rs 832.00, below its previous close of Rs 840.45, before rising to an intraday high of Rs 874.00 and a low of Rs 821.10. The stock’s volume-weighted average price (VWAP) stood at Rs 852.49, with the counter last trading at Rs 850.15, up Rs 9.70 for the session. Intraday chart of ideaForge below.

Sellers vastly outnumbered buyers of ideaForge stock on Wednesday, with just 24.86% of all traded shares, or 21,396 shares, placed on the bid, while the sell-side recorded volume of 64,677 shares, or 75.14% of the total, a ratio of roughly 3:1 in favour of sellers even as the stock held on to its gains. The top bid for the stock was between Rs 848.00 and Rs 850.10, while the top ask ranged between Rs 850.20 and Rs 852.00 through the session.

Weekly Trend

The weekly graph for ideaForge shows the stock falling sharply from around Rs 850.00 on July 1 to a low of about Rs 821.00 by July 3, before recovering to a high of around Rs 855.00 on July 6 and easing back to around Rs 840.00 by July 7’s close. Wednesday’s gains have pushed the stock back above last week’s closing levels, capping off a volatile week overall.

ideaForge Board Approves QIP, Sets Floor Price at Rs 835.86 A Share

ideaForge Technology Limited on July 7, 2026, informed exchanges that its fundraising committee had approved the opening of a qualified institutions placement of equity shares of face value Rs 10 each, under Chapter VI of the SEBI ICDR Regulations and Sections 42 and 62 of the Companies Act, 2013. The approval followed shareholder clearance via a special resolution passed through postal ballot on July 4, and the Committee authorised the opening of the issue on July 7 itself.

The Committee also approved a floor price of Rs 835.86 per equity share, calculated as per the SEBI ICDR Regulations’ pricing formula, with the relevant date for the issue fixed as July 7 under Regulation 171(b)(i). The company said it may, at its discretion, offer a discount of up to 5% on the floor price, in line with shareholder approval, with the final issue price to be decided in consultation with the book running lead managers appointed for the placement. A preliminary placement document dated July 7 has also been adopted and made available on the company’s website.

The Committee meeting, which ran from 7 pm to 7:20 pm, was disclosed to exchanges as compliance under Regulations 29(1) and 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Source: NSE quote data; company filing dated July 7, 2026.