ideaForge share price: Drone stock hits upper circuit after THIS order book update

Small-cap drone maker ideaForge Technology's stock hit its upper circuit on Monday, 23 June 2025, after the company announced that it had bagged a mini drone manufacturing order worth ₹137 crore from the Ministry of Defence, according to an exchange filing. 

The order details show that the company will supply the Mini UAVs (drones) with their accessories within a time period of 12 months.

“This is to inform you that ideaForge Technology Limited has received an order worth approx ₹137 Crores (all inclusive) to supply Mini UAVs with accessories to Ministry of Defence,” said the company in the BSE filing.

ideaForge is a Mumbai-based manufacturer of Unmanned Aircraft Systems (UAS) or drones for security, surveillance, and other purposes.

Shares of the drone maker also surged more than 8 per cent in the second week of June as Israel's military strikes on Iran spiked the investors' interest in defence-related stocks. 

ideaForge Share Price Trend

ideaForge shares surged during Monday's stock market session, hitting its upper circuit after gaining 10 per cent to ₹631.65 during the intraday session.

Shares closed 10 per cent higher at ₹631.65, compared to ₹574.25 in the previous market close. The drone maker released the information on the Ministry of Defence drone order book update during the mid-stock market session on 23 June 2025.

The stock has lost 51.27 per cent since its listing on the Indian stock market in July 2023. In the last one-year period, ideaForge shares are down 22.48 per cent. However, on a year-to-date (YTD) basis in 2025, the shares have gained 1.07 per cent, and are trading 19.78 per cent higher in the last one-month period.

ideaForge shares hit their 52-week high levels at ₹864.10 on 12 July 2024, while the 52-week low level was at ₹301 on 7 April 2025, according to data collected from the BSE. The company's market capitalisation (M-Cap) was at ₹2,727.14 crore as of the stock market close on Monda, 23 June 2025.

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