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The Economic Times
The Economic Times

Ideaforge raises Rs 500 crore via QIP to fund next phase of growth

ideaForge SEBI ankit mehta IdeaForge Technology

Drone technology company ideaForge Technology has successfully raised Rs 500 crore through Qualified Institutional Placement (QIP), and it plans to use the proceeds to fund the company's 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.

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