Drone stock IdeaForge Technology share price jumps over 4% after launch of ₹500-crore QIP
IdeaForge Technology share price has fallen 9% in one month, but has jumped by a staggering 104% in just three months. The drone stock has rallied 80% in six months, while it has surged 48% in one year.
IdeaForge Technology share price jumped over 4% on Wednesday after the company launched its qualified institutional placement (QIP) to raise funds. The drone stocks rallied as much as 4.64% to ₹876.95 apiece on the BSE.
Drone manufacturer IdeaForge Technology said on July 7 that its fundraising committee approved the launch of QIP to raise up to ₹500 crore. The company’s board of directors had earlier approved the fundraising on June 3.
The company has fixed July 7, 2026, as the relevant date for the QIP. Based on the prescribed pricing formula, IdeaForge Technology QIP floor price has been determined at ₹835.86 per equity share.
The company may at its discretion, offer a discount of not more than 5% on the floor price for the issue.
Technical View
IdeaForge Technology share price is in a consolidation phase since last one month, noted Ruchit Jain, Head, Equity Technical Research, Wealth Management, Motilal Oswal Financial Services.
“IdeaForge Technology stock price is trading above its crucial 50 DEMA support which is around ₹785. The overall trend on a longer time frame is positive and hence, traders with long positions can hold with a stoploss below ₹785,” said Jain.
IdeaForge Technology Share Price Performance
IdeaForge Technology share price has fallen 9% in one month, but has jumped by a staggering 104% in just three months. The drone stock has rallied 80% in six months, while it has surged 48% in one year.
At 11:05 AM, IdeaForge Technology share price was trading 2.03% higher at ₹855.00 apiece on the BSE.
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