The proceeds from its fresh issuance will be utilised for repayment / prepayment of certain indebtedness availed by the Company, funding working capital requirements and for investment in product development and general corporate purposes.
Mumbai-based Drone maker ideaForge Technology Limited has received final observation from the capital markets regulator, Securities and Exchange Board of India, to raise funds through an initial public offering.
Mumbai-based Drone maker ideaForge Technology, with a market share of approximately 50% in fiscal 2022 has filed its DRHP with the capital market regulator, SEBI to raise funds through an IPO.