WOW STORY OF THE DAY: 90% of India’s Drones, ₹1000 Cr IPO: How IdeaForge Took Off from a College Lab

Updated: November 17, 2025 18:57

Image Source: EquityBulls

IdeaForge, born out of an IIT Bombay project, has soared to dominate India’s drone surveillance sector. With a ₹1000+ crore IPO and 90% market share in defense-grade drones, it’s now a national tech asset — blending innovation, security, and startup grit into a high-altitude success story.

In India’s rapidly evolving defense-tech landscape, IdeaForge Technology has emerged as a silent powerhouse. Founded in 2007 by IIT Bombay alumni, the company began as a student robotics project. Today, it powers over 90% of India’s drone surveillance missions, serving the Indian Army, Navy, and paramilitary forces.

The company’s flagship drones — including Switch UAV and Q Series — are known for their endurance, precision, and rugged design. These drones are deployed for border surveillance, disaster response, and strategic reconnaissance, making IdeaForge a critical player in national security.

In 2023, IdeaForge made headlines with its ₹567 crore IPO, which was oversubscribed nearly 106 times. The listing pushed its market cap past ₹1000 crore, signaling strong investor confidence in India’s defense-tech future. The company’s revenue surged to ₹160 crore in FY23, with a robust order book and expanding global interest.

What sets IdeaForge apart is its full-stack drone ecosystem — from hardware to software to analytics. It’s one of the few companies globally to offer indigenously developed drones with proprietary autopilot technology, giving it a strategic edge in both domestic and export markets.

Major Takeaways

Campus to Command Center: Originated as an IIT Bombay robotics project, now a defense-tech leader.
Market Dominance: Powers 90% of India’s drone surveillance missions, including military and paramilitary deployments.
IPO Success: Raised ₹567 crore in 2023 IPO, oversubscribed 106x, with a market cap crossing ₹1000 crore.
Product Innovation: Flagship drones like Switch UAV offer 2+ hour flight time, vertical take-off, and real-time data streaming.
Global Ambitions: Expanding into international markets with interest from Southeast Asia, Africa, and Latin America.

IdeaForge didn’t just build drones — it built trust. From campus corridors to combat zones, its journey proves that deep-tech innovation can take flight when vision meets execution.

Sources: Business Today, Moneycontrol, Economic Times

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