New Delhi, July 8 -- IdeaForge Technology share price jumped over 4% on Wednesday after the company launched its qualified institutional placement (QIP) to raise funds. The drone stocks rallied as much as 4.64% to Rs.876.95 apiece on the BSE.

Drone manufacturer IdeaForge Technology said on July 7 that its fundraising committee approved the launch of QIP to raise up to Rs.500 crore. The company's board of directors had earlier approved the fundraising on June 3.

The company has fixed July 7, 2026, as the relevant date for the QIP. Based on the prescribed pricing formula, IdeaForge Technology QIP floor price has been determined at Rs.835.86 per equity share.

The company may at its discretion, offer a discount of not more than 5% on the f...