IdeaForge is a drone manufacturing company that announced the addition of 3,936 new equity shares to its employee stock option plan. The startup manufactures advanced logistic drone solutions using artificial intelligence and advanced technology. The company provides a drone that works well even during bad or critical weather conditions. These newly allocated employee stock option plan shares are worth Rs 27.41 lakh.
website : https://ideaforgetech.com/
The company mentioned in the BSE filing that the board approved the allotment of 3,936 equity shares at a face value of Rs 10 per share to those under the Idea Forge employee stock option plan. The company allotted these equity shares under the Idea Forge ESOP 2018 plan. These newly allocated stock options will follow the same rights and status as the company’s existing equity shares. This marks the second time Idea Forge expanded its employee stock option plan pool size in the past few months. After new equity shares were allocated the startup’s paid-up capital increased and stood out at Rs 43,02,88,360.
Inc42 mentioned that the development came after the company bought Rs 8.28 crore worth of stakes in the Space tech startup GalaxEye Space. The company also expanded its pool size under the ESOP 2018 scheme by allocating 96,000 stock options. This marks the third time this drone manufacturing firm expanded its employee stock option plan’s pool size in the last few months. Idea Forge has raised around $553.8 million across multiple funding rounds since its inception, including $7.27 million secured from 360 One and Think Investments during its series C funding round. Tracxn reported.
The company reported a 94 percent decrease in its profit after tax to Rs 1.2 crore in FY25. However, the operational revenue increased by 12.5 percent on a QoQ basis to Rs 102.3 crore in the fourth quarter of FY24. The report by EY-FICCI mentioned that the drone market is expected to grow its value for this sector to 23 billion USD in the next six years. The Indian drone market is predicted to cross the $15 billion mark in the same duration. The company faces competition from companies such as Skydio, and Shield AI.
Conclusion :
IdeaForge announced the allocation of 3,936 equity shares in its existing employee stock option plan. These newly allocated shares are worth around Rs 27.41 lakh. The logistic startup manufactures drones and offers several drone solutions including its application in mining, agriculture, surveillance, and hospitality. The company’s board approved the allocation of 3.9k equity shares at a face value of Rs 10 each. After this allotment, the paid-up value of the firm increased.
The startup previously allocated 96,000 equity shares worth Rs 7.95 crore under the Idea Forge ESOP 2018 scheme. The company also acquired a stake worth Rs 8.28 crore in the space tech startup GalaxEye Space Solution. IdeaForge competes with companies including Skydio. Today, the startup’s shares closed at 2.14 percent up to Rs 711.45 Idea Forge’s shares were traded up by 2.14 percent at Rs 711.45 on the BSE.
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