Ideaforge Technology Limited IPO

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i. Ideaforge Technologies is a company that designs and manufactures world-class drones for mapping, security, and surveillance applications. It serves in the B2B space in the Aerospace, Maritime and Defense Tech market segments.

ii. It has a vertically integrated business model that includes in-house R&D, design, manufacturing, software, services and training operations3. It also provides end-to-end UAV solutions and services to the industrial and commercial sectors.

 

Some of the products of Ideaforge Technologies are:

i. NETRA Pro: A compact and lightweight VTOL UAV for surveillance and reconnaissance missions. It has a flight time of up to 60 minutes and a range of up to 5 km.

ii. NETRA v2: A rugged and versatile VTOL UAV for day and night surveillance and mapping. It has a flight time of up to 90 minutes and a range of up to 10 km.

iii. Q Series: A family of high-performance VTOL UAVs for long-range and high-altitude operations. They have flight times of up to 180 minutes and ranges of up to 20 km.

iv. SWITCH: A fixed-wing VTOL UAV for mapping and surveying large areas. It has a flight time of up to 120 minutes and a range of up to 15 km.

v. NETRA HYBRID: A hybrid VTOL UAV that combines the advantages of fixed-wing and rotary-wing platforms. It has a flight time of up to 150 minutes and a range of up to 50 km.

vi. Batteries: A range of high-performance lithium polymer batteries for powering the UAVs. They have capacities of up to 22 Ah and voltages of up to 22.2.

vii. Communication Systems: A range of secure and reliable communication systems for controlling and transmitting data from UAVs. They have frequencies of up to 2.4 GHz and bandwidths of up to 10 Mbps.

viii. Drone-related Software and Solutions: A range of software and solutions for planning, executing, analyzing, and managing UAV missions. They include flight control software, mission planning software, data processing software, fleet management software, etc.

Competitve Strengths

i. Diversified product portfolio with a robust technology stack and track record of successful outcomes in critical use cases.
ii. Pioneer and the pre-eminent market leader in the Indian UAS industry, with a first-mover advantage
iii. Strong relationships with a diverse customer base
iv. Significant product development capabilities powering our software and solutions and product differentiators

Objects of the Ideaforge Technology Limited IPO:

The Company proposes to utilize the Net Proceeds towards funding the following objects: 1. Repayment/prepayment of certain indebtedness availed by the Company; 2. Funding working capital requirements; 3. Investment in product development; and 4. General corporate purposes.
DRHP of Ideaforge Technology Limited IPO

Ideaforge Technology Limited IPO Details:

Promoters And Management:

i. Srikanth Velamakanni is the Chairman and Independent Director of the Company and has been an Independent Director on the Board of the Company since December 14, 2022. He holds degree in bachelor of technology in electrical engineering from Indian Institute of Technology, Delhi and a post-graduate diploma in management from Indian Institute of Management, Ahmedabad. He is associated with Fractal Analytics Private Limited as the co-founder, group chief executive and executive vice chairman. ii. Ankit Mehta is the Chief Executive Officer and Whole-Time Director of the Company. He is a Promoter of the Company. He has been associated with the Company since its incorporation and has experience in the drone industry. In the Company, he is responsible for driving business growth, strategy, global expansion and investor relations. He holds a degree in bachelor of technology in mechanical engineering under the dual degree programme and a degree in master of technology in mechanical engineering with specialization in computer aided design and automation under the dual degree programme from Indian Institute of Technology, Bombay. He received the Young Alumnus Achiever Award from Indian Institute of Technology, Bombay in the year 2020. iii. Rahul Singh is the Vice President-Engineering and Whole-Time Director of the Company. He is a Promoter of the Company. In the Company, he is responsible for driving innovation and for product and technology roadmap. He has been associated with the Company since its incorporation and has experience in the drone industry.

Financials of Ideaforge Technology Limited IPO: 

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Comparison With Peers:

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Recommendation on Ideaforge Technology Limited IPO:

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Lead Manager of Ideaforge Technology Limited IPO:

  1. IIFL Securities Ltd
  2. JM Financial Consultants Private Limited

Registrar of Ideaforge Technology Limited IPO:

  1. Link Intime India Private Limited

Company Address:

EL-146, TTC Industrial Area, Electronic Zone MIDC, Mahape, Navi Mumbai, Thane 400 710, Maharashtra, India

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