India, June 3 -- Dronetech company ideaForge's board has approved a proposal to raise up to Rs.500 Cr in its meeting held today (June 3). The company plans to undertake preferential allotment, private placement or a qualified institutions placement (QIP), in one or more tranches, to raise the funds.

The proposed fundraise will be subject to shareholder approval and other necessary regulatory clearances. The company did not disclose when or at what price the securities would be issued.

The board decision comes weeks after ideaForge disclosed its financial performance for Q4 FY26.

ideaForge bounced back into profitability in the March 2026 quarter reporting a net profit of Rs.59.9 Cr in Q4 FY26 against a net loss of Rs.25.7 Cr in the yea...