IdeaForge Technology’s shares surged nearly 5% during early Friday trading after winning a Rs 58 crore order for surveillance copters. The shares opened at Rs 958.15 and reached an intraday high of Rs 979.55 on the NSE.
The company announced receiving an order for 400 surveillance copters with accessories from M/s Strategic Marketing, valued at about Rs 58 crores or approximately $7 million (exclusive of GST). The order is set to be executed within the next 12 months.
IdeaForge Technology had a successful IPO in June 2023, raising Rs 567 crores with over 100 times oversubscription, and was listed at a 93.45% premium at Rs 1,300.
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