Small-cap defence stock IdeaForge jumps 11% on bagging order worth ₹100 crore from Indian Army

IdeaForge share price surged more than 11% during Monday’s trading session, following the announcement that the city-based drone manufacturer had acquired over ₹100 crore in new defence contracts, marking one of its most significant order wins this year.

On Friday, IdeaForge Technology announced it had received a supply order valued at approximately ₹100 crore from the Indian Army for its advanced tactical unmanned vehicle Zolt and its versatile all-terrain VTOL drone SWITCH 2.

The firm announced that the emergency capital procurement order for Zolt is approximately ₹75 crore, which came after what it termed a thorough and in-depth assessment process that included “comprehensive field trials in electronic warfare (EW) settings and strict verification of the country of origin.” The order for SWITCH 2 is worth ₹30 crore.

The company announced that it has secured several significant defence contracts, bringing its total order value for the day to more than ₹100 crore as the Indian Army and Ministry of Defence increase their use of UAV platforms for tactical and ISR operations.

The Indian Army has placed an order worth ₹75 crore for ZOLT, a newly introduced tactical UAV, under Capital Emergency Procurement, with expected deliveries within the next 12 months. Launched at Aero India 2025, ZOLT is crafted as a state-of-the-art platform for long-range ISR and precision payload missions.

In addition to ZOLT, Ideaforge has received a further order of approximately ₹30 crore for its hybrid SWITCH V2 UAV. SWITCH V2, which was also presented at Aero India 2025, is already in use and has been tested in ISR operations, with deliveries expected within six months.

“At IdeaForge, we continue to strengthen India’s position in the global UAV ecosystem by driving performance, reliability, autonomy and resilience in every platform we build,” Mehta said, adding that “the development of ZOLT stems from our technological foresight, deep investment in meaningful innovation, and commitment to indigenisation and electronic warfare resilience,” said Ankit Mehta, CEO and Co-Founder of IdeaForge Technology.

IdeaForge share price today

IdeaForge share price today opened at ₹492.50 apiece on the BSE, the stock touched an intraday high of ₹519.90 apiece and an intraday low of ₹492 per share.

According to Anshul Jain, Head of Research, Lakshmishree, IdeaForge share price is building strength on the weekly chart with a double bottom and a higher low, signaling a shift in control toward buyers. The recent gap-up has added fresh momentum, setting the stock on course toward the neckline at 556.25. A clean move above 560 will confirm the pattern breakout.

“If this breakout comes with strong volume, it can ignite sustained upside momentum, opening the door for a meaningful trend reversal. The structure is tightening, buyers are stepping up, and the price action is starting to cooperate—positioning IdeaForge for a potential bullish follow-through,” said Anshul Jain.

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