New Delhi, June 4 -- Drone stock ideaForge Technology share price hit its 5% upper circuit of Rs.898.60, also its 52-week high on Thursday, 4 June after the company's board approved a fundraise of Rs.500 crore through the issuance of securities.

The decision was approved by the board of directors at its meeting held on June 3.

According to the exchange filing, the proposed fundraise, capped at Rs.5,000 million ( Rs.500 crore), may be undertaken through one or more tranches and across multiple fundraising routes. The company said it could issue equity shares, preference shares, fully or partly convertible debentures, non-convertible debentures with warrants, equity-linked securities or any other eligible instruments permitted under appli...