IdeaForge Secures INR 75 Crore Order from Ministry of Defence
Filing Summary
IdeaForge Technology Limited has received an order valued at approximately INR 75 Crores from the Ministry of Defence. The order involves the supply of AFDS/Tactical class UAVs with accessories, to be delivered within a 12-month period. This transaction is classified as domestic, and there is no involvement of related party transactions. The company has confirmed that neither the promoter group nor group companies have any interest in the awarding entity. This update is in compliance with Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements.
IdeaForge Technology Limited has announced the receipt of an order worth approximately INR 75 Crores from the Ministry of Defence. The order pertains to the supply of AFDS/Tactical class UAVs along with accessories. The delivery of these units is scheduled to be completed within a 12-month timeframe.
The order is classified as domestic, with no international entities involved. The company has confirmed that there are no related party transactions associated with this order. Additionally, neither the promoter group nor any group companies have any interest in the Ministry of Defence, the entity awarding the contract.
This disclosure is made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The necessary details have been provided as per SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023.
The Ministry of Defence is responsible for the implementation of government policy related to defense and security. It oversees the armed forces and is tasked with ensuring national security and defense policy.
IdeaForge Technology Limited specializes in the development and manufacturing of unmanned aerial vehicles (UAVs). The company focuses on providing advanced UAV solutions for various sectors, including defense and security. IdeaForge is committed to innovation and enhancing its technological capabilities to meet the evolving needs of its clients.