Ideaforge Technology raised about ₹500 crore by closing its Qualified Institutional Placement (QIP) on July 10, 2026, allotting 62.89 lakh equity shares at an issue price of ₹795.00 per share to qualified institutional buyers. The issue price reflects a discount of ₹40.86 per share, or 4.89%, to the floor price of ₹835.86 per share. The fundraising initiative, which opened on July 07, 2026, was approved by the Fund Raising Committee and follows a special resolution passed by shareholders via a Postal Ballot.

QIP Key Details

The following table outlines the final parameters of the QIP:

Pricing and Allocation

The Fund Raising Committee determined the final issue price and allocation in accordance with Regulation 176(1) of the SEBI ICDR Regulations. The committee approved the closure of the issue upon receipt of application forms and funds in the escrow account from eligible qualified institutional buyers. The placement document dated July 10, 2026, has been adopted and will be filed with the exchanges.

Regulatory Compliance

The issue was conducted under the provisions of Chapter VI of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, and Sections 42 and 62 of the Companies Act, 2013. The company has made the Placement Document available on its website.

IdeaForge Technology reported a consolidated net loss of ₹199.36 million for the financial year ended March 31, 2026, narrowing from the ₹623.95 million loss posted in the previous year. The company’s revenue from operations increased to ₹2,268.26 million in FY26, up from ₹1,658.70 million in the prior year, primarily led by product sales.

The Board of Directors approved the audited consolidated financial statements for the year ended March 31, 2026, at its meeting held on April 30, 2026. These statements, prepared in accordance with the Companies Act, 2013 and Indian Accounting Standards, remain subject to the approval of shareholders at the Annual General Meeting scheduled for August 5, 2026.

Total comprehensive loss for the year stood at ₹170.29 million, compared to ₹672.78 million in FY25. The company’s total assets were valued at ₹7,947.21 million as of March 31, 2026, while total equity and liabilities amounted to ₹7,947.24 million.

Financial Performance

The improvement in financial performance was driven by higher operational income. However, the company continues to face challenges related to product development costs and warranty provisions. The auditors, BSR&Co. LLP, identified revenue recognition and the capitalisation of product under development as key audit matters.

Operational Highlights

Revenue from external customers was ₹2,268.26 million, with the majority derived from operations within India. The company’s expenses for the year included total expenditure of ₹2,484.21 million. The finance cost for the period was ₹67.70 million, while depreciation and amortisation expenses amounted to ₹116.11 million.

The company did not declare any dividend during the financial year.