ideaForge Technology Ltd
ideaForge is India's first listed pure-play UAV OEM, founded by IIT Bombay alumni in 2007 and listed on NSE/BSE in July 2023. It is the incumbent supplier of mini-VTOL surveillance UAVs to the Indian
Last verified:
At a Glance
- Headquarters
- Mumbai, Maharashtra, India
- Type
- Manufacturer (listed)
- Founded
- 2007
- India entity
- null
- Listed
- NSE: IDEAFORGE, BSE: 543932 (listed 7 July 2023)
- Key India role
- ideaForge is India's first listed pure-play UAV OEM, founded by IIT Bombay alumni in 2007 and listed on NSE/BSE in July 2023. It is the incumbent supplier of mini-VTOL surveillance UAVs to the Indian
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- key specs
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What It Is
ideaForge is India's first listed pure-play UAV OEM, founded by IIT Bombay alumni in 2007 and listed on NSE/BSE in July 2023. It is the incumbent supplier of mini-VTOL surveillance UAVs to the Indian Army, having executed the country's first major Indian-UAV defence contract ($20 million SWITCH UAV order, 2021) and a follow-on ₹137 crore emergency procurement in June 2025. Its platforms (SWITCH, NETRA family, Q6 V2) are designed and built in India and have achieved DGCA type certification and a NATO stock number for the Q6 V2, positioning it as a flagship Make-in-India defence drone champion.
Deployments & Procurement
5 documented India deployment(s)/procurement(s).
| Agency | Context | Year | Quantity / Note | Sources |
|---|---|---|---|---|
| Indian Army | $20 million contract for SWITCH UAV high-altitude variant; first major Indian-OEM UAV contract; deliveries split 100 in 2022 and 100 in 2023 | 2021 | ~200 systems (undisclosed exact qty) | [1][2][3] |
| Indian Army (Emergency Procurement) | ₹137 crore (~$16.4M) emergency procurement order for hybrid Mini UAVs | 2025 | undisclosed | [1][2][3] |
| Indian Ministry of Defence / Government of India | ₹151 crore sanction for Project Yeti (high-altitude UAV development) | 2024 | n/a (R&D sanction) | [1][2][3] |
| Indian Military | Additional $11M UAV contract win (post the June 2025 emergency order) | 2025 | undisclosed | [1][2][3] |
| DRDO (co-development lineage) | NETRA UAV co-developed with DRDO; deployed by CAPFs and Army for border surveillance | 2010s-2024 | n/a | [1][2][3] |
Import Dependencies
Not analysed in this dossier.
Intelligence Assessment
Methodology: /research/methodology/
FAQ
When was ideaForge Technology listed on Indian stock exchanges and what are its tickers?
ideaForge Technology listed on NSE and BSE on 7 July 2023, with tickers NSE: IDEAFORGE and BSE: 543932.
What was ideaForge's first major Indian Army UAV contract?
In January 2021, the Indian Army signed a ~$20 million contract for the SWITCH UAV high-altitude variant, with deliveries of ~200 systems scheduled across 2022-2023. This was the first major Indian-OEM UAV contract for the Indian defence forces.
What recent emergency procurement did ideaForge receive from the Indian Army in 2025?
In June 2025, ideaForge secured a ₹137 crore (~$16.4 million) emergency procurement from the Indian Army for hybrid Mini UAVs. A further $11M military drone contract was reported in November 2025.
Sources
- src-01Officialhttps://ideaforgetech.com/blogs/indian-army-signs-a-20-million-contract-with-ideaforge-to-procure-switch-uav
Company announcement of $20M Indian Army SWITCH UAV contract
- src-02Crediblehttps://www.army-technology.com/projects/switch-uav
Independent confirmation of $20M Indian Army Switch UAV order placed in January 2021
- src-03Crediblehttps://www.medianama.com/2022/03/223-ideaforge-contract-drones-indian-army-3
Confirms 200-SWITCH delivery schedule to Indian Army (100 in 2022, 100 in 2023)
- src-04Crediblehttps://militaryembedded.com/unmanned/isr/switch-uav-designed-for-isr-missions-procured-by-indian-army
Confirms high-altitude SWITCH variant procurement by Indian Army
- src-05Crediblehttps://dronelife.com/2025/06/23/indian-army-awards-emergency-uav-contract-to-ideaforge
Reports ₹137 crore emergency procurement from Indian Army for hybrid Mini UAVs (June 2025)
- src-06Crediblehttps://www.suasnews.com/2025/06/ideaforge-secures-%E2%82%B9137-crore-emergency-procurement-order-from-indian-army-for-hybrid-mini-uavs
Confirms ₹137 Cr Indian Army emergency procurement order
- src-07Crediblehttps://thedefensepost.com/2025/11/20/ideaforge-india-drone-contract
Reports additional $11M Indian military drone deal; references June 2025 ₹1.37B emergency order
- src-08Crediblehttps://ticker.finology.in/ipo/ideaforge-technology-ltd
Confirms NSE: IDEAFORGE, BSE: 543932, listing 7 July 2023
- src-09Crediblehttps://www.zeebiz.com/markets/stocks/news-ideaforge-ipo-listing-market-debut-share-price-bse-nse-243092
Confirms Mumbai HQ and 7 July 2023 NSE/BSE listing of ideaForge
- src-10Crediblehttps://www.qualcommventures.com/insights/blog/ideaforge-from-iit-bombay-to-ipo
Confirms IIT-Bombay origin, 2007 founding, July 2023 IPO
- src-11Crediblehttps://dronelife.com/2024/08/21/ideaforges-q6-v2-receives-dgca-certification-enhancing-uav-capabilities
Q6 V2 receives DGCA type certification
- src-12Crediblehttps://www.suasnews.com/2025/09/ideaforges-q6-v2-uav-platform-assigned-nato-stock-number-enabling-global-defense-procurement
Q6 V2 assigned NATO stock number; platform developed entirely in India
- src-13Indicativehttps://en.wikipedia.org/wiki/DRDO_Netra
Notes ideaForge involvement in DRDO NETRA UAV lineage
- src-14Crediblehttps://www.nirmalbang.com/company-profile/smart-quotes.aspx?fincode=250958
Confirms incorporation year 2007; live listed share price