Mumbai-based drone manufacturer ideaForge Technology Ltd witnessed its stock price jump by 11% following the announcement of a ₹100 crore order from the Indian Army for its advanced tactical drones. The order, secured after a rigorous evaluation process, includes the supply of the next-generation Zolt tactical unmanned aerial vehicle (UAV) and the SWITCH 2 all-terrain vertical take-off and landing (VTOL) drone.
The Indian Army's capital emergency procurement order for the Zolt is valued at approximately ₹75 crore, while the SWITCH 2 order is worth around ₹30 crore. This procurement falls under the Army's capital emergency procurement (CEP) route, which is designed to expedite the induction of critical equipment to meet evolving operational needs.
The Zolt UAV underwent extensive field trials in electronic warfare (EW) environments and stringent country-of-origin checks. These trials were crucial in validating the platform's performance in GPS-denied and communication-jammed conditions, ensuring its readiness for modern battlefield scenarios. The SWITCH 2 also underwent thorough evaluation.
Unveiled at Aero India 2025, the Zolt is ideaForge's most advanced tactical unmanned platform to date. It is engineered to perform in high-threat, high-altitude, and signal-contested environments, offering robust electronic counter-countermeasures capabilities, including GNSS-denied autonomy and resilience to communication jamming. The platform is designed for long-range intelligence, surveillance, and reconnaissance (ISR) missions, precision payload delivery, and high autonomy in contested operational zones. It combines extended endurance, secure communication links, and a modular payload architecture, making it suitable for real-time situational awareness and tactical decision-making.
The SWITCH 2 is an all-terrain VTOL drone designed for surveillance and reconnaissance in diverse environments. Its VTOL capability allows it to operate in confined spaces and challenging terrains, making it a versatile asset for the Indian Army.
Ankit Mehta, Co-founder and CEO of ideaForge Technology Ltd, stated that this order underscores the company's commitment to delivering best-in-class systems to the Indian Army and creating long-term value for shareholders. He also emphasized the company's active role in shaping the future of drone technology and driving its adoption.
The contracts, totaling more than Rs 100 crore, represent one of Ideaforge Technology's strongest wins this year, highlighting the Indian Army's increasing focus on integrating advanced UAV technology into its operations. The drones are expected to enhance the army's capabilities in tactical and Intelligence, Surveillance, and Reconnaissance (ISR) operations. Ideaforge Technology has committed to a swift delivery schedule to support the Indian Army's rapid expansion of UAV deployment across various operational domains. The Rs 75 crore order for ZOLT has been placed under Capital Emergency Procurement by the Indian Army, with deliveries scheduled within 12 months.
The company has secured multiple major defence contracts, taking its total order value for the day to over Rs 100 crore as the Indian Army and Ministry of Defence expand their deployment of UAV platforms across tactical and ISR operations.
Shares of Ideaforge Technology are likely to be in focus on Monday after the drone maker secured more than Rs 100 crore in fresh defence contracts, marking one of its strongest order wins this year.
The company commits to deliver within 6-12 months, supporting the Army's rapid UAV deployment expansion. This win strengthens Ideaforge's position in the defence technology sector and highlights the Indian Army's focus on integrating advanced UAV technology.
