Shares of ideaForge Technology surged 7.75% to Rs 500.65 on Monday, November 17, rising sharply after the Indian drone manufacturer announced fresh defence orders worth more than Rs 100 crore from the Indian Army. The stock gained Rs 36 from the previous close of Rs 464.65 as investors reacted to the strong order inflow and growing demand for indigenous UAV systems.
The company said it has received a Rs 75 crore order for its newly launched ZOLT Tactical UAV and an additional Rs 30 crore order for SWITCH V2, which is already operational with the Army. The orders come after extensive field evaluations, including tests in electronic warfare environments and strict scrutiny to ensure the absence of any critical Chinese-origin components.
ZOLT, unveiled at Aero India 2025, represents ideaForge’s next-generation tactical UAV platform. Capable of long-range ISR (intelligence, surveillance and reconnaissance) and precision payload delivery, the UAV is designed for high-threat, high-altitude and GPS-denied conditions. It is equipped with advanced electronic counter-countermeasures (ECCM), including GNSS-denied autonomy and resistance to communication jamming.
ideaForge said the drone is suited for a wide range of modern military missions, from counter-insurgency and border surveillance to tactical strike support. Its VTOL (vertical take-off and landing) capability allows deployment in challenging terrain while maintaining fixed-wing endurance.
CEO and co-founder Ankit Mehta said the ZOLT platform reflects the company’s investment in high-performance, resilient and indigenous UAV technologies aimed at strengthening India’s presence in the global unmanned systems ecosystem.
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