Rs 280.36 crore order book: This aerospace and defence company receives order worth Rs 88.06 crore Parity Info Tech Solutions Private Limited!

The stock’s 52-week high is Rs 1,344 and its 52-week low is Rs 982.56.

IdeaForge Technology Ltd informed that the company has received orders worth about Rs 88.06 crore (exclusive of GST) to supply Surveillance quadcopters with Accessories to one of the forces under the Ministry of Defense, Government of India. The order is received from Parity Info Tech Solutions Private Limited and will be completed within 12 months from LOI.

According to the Quarterly Results, the company reported net sales of Rs 97 crore in Q1FY24 compared to net sales of Rs 99 crore in Q1FY23, down by 2 per cent. The net profit decreased by 53.66 per cent to Rs 19 crore in Q1FY24 compared to a net profit of Rs 41 crore in Q1FY23. The company’s current order book stands at Rs 280.36 crore including the above order.

IdeaForge Technology Limited is engaged in the business of manufacturing Unmanned Aircraft Systems (UAS) for mapping, security & surveillance. These drones are capable of a wide range of mining area planning, and mapping applications.

The company manufactures Unmanned Aircraft Vehicles for Mapping, Security & Surveillance. These drones are capable of a wide range of mining area planning, and mapping applications.

IdeaForge Technology IPO lot size was 22 shares, and the minimum amount required is Rs 14,784. The price band for the issue is fixed at Rs. 638 to Rs. 672 per share.

Today, shares of IdeaForge Technology plunged 0.30 per cent to Rs 985.95 crore with an intraday high of Rs 1,008.80 and an intraday low of Rs 983. The stock’s 52-week high is Rs 1,344 and its 52-week low is Rs 982.56. Investors should keep an eye on BSE IPO stock.

Disclaimer: The article is for informational purposes only and not investment advice.