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IDEAFORGE TECHNOLOGY LIMITED — Capital/Financing Update 2025
Feb 20, 2025
61104_rns_2025-02-20_67a7ffd7-3125-4b19-8fd7-704774d7c694.pdf
Capital/Financing Update
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www.ideaforgetech.com
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February 20, 2025
To, To, BSE Limited The National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Dalal Street, “Exchange Plaza”, Bandra – Kurla Complex, Fort, Mumbai – 400 001. Bandra (EAST), Mumbai – 400 051 BSE Scrip Code: 543932 NSE SYMBOL: IDEAFORGE
Dear Sir / Ma’am,
Sub.: Disclosure pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Company has made an investment in a US-based privately-held company, Vantage Robotics, Inc., with their primary business in the Unmanned and Robotic Aircraft Manufacturing industry, USD 1.832 Million (~INR 15.96 Cr), on February 19, 2025 via Compulsorily Convertible Promissory Note.
The disclosure as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015, and SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13[th] July 2023, is enclosed herewith as Annexure - A.
You are requested to take the same on record & oblige.
Thanking you,
Yours truly,
For ideaForge Technology Limited
NILESH Digitally signed by NILESH RANJAN RANJAN JAYWANT Date: 2025.02.20 JAYWANT 11:40:08 +05'30' Nilesh Ranjan Jaywant Company Secretary & Compliance Officer Membership No. A26554
Encl: As above
ideaForge Technology Limited (Formerly ideaForge Technology Private Limited) EL-146, T.T.C. Industrial Area, M.I.D.C. Mahape, Navi Mumbai - 400 710. Maharashtra (India) Ph.(O): +91 (22) 6787 1000 (F) +91 (22) 6787 1007
Email: [email protected] CIN No. L31401MH2007PLC167669
www.ideaforgetech.com
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Annexure - A
Acquisition (including agreement to acquire)
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Sr. No. Particulars Remarks
1. Name of Target Entity; details in brief such as Vantage Robotics, Inc.
size, turnover etc. ● UAV and UAV components
manufacturing company based out of
California (US), with strong R&D
capabilities.
● Size and turnover cannot be disclosed
due to private ownership.
2. whether the acquisition would fall within No
related party transaction(s) and whether the
promoter/ promoter group/ group companies
have any interest in the entity being acquired?
If yes, nature of interest and details thereof and
whether the same is done at “arm’s length”;
3. industry to which the entity being acquired Unmanned and Robotic Aircraft
belongs; Manufacturing
4. objects and impact of acquisition (including but This is not an acquisition, rather it is a minority
not limited to, disclosure of reasons for investment.
acquisition of target entity, if its business is
outside the main line of business of the listed
entity);
5. brief details of any governmental or regulatory This is not an acquisition, rather it is a minority
approvals required for the acquisition; investment, in compliance with RBI
guidelines. The investment is subject to the
requisite governmental or regulatory
approvals.
6. indicative time period for completion of the Not applicable
acquisition;
7. consideration - whether cash consideration or Cash consideration
share swap or any other form and details of the
same;
8. cost of acquisition and/or the price at which the USD 1.832 Million (~INR 15.96 Cr)
shares are acquired;
9. percentage of shareholding / control acquired Shall be determined when the investment
and / or number of shares acquired; converts to equity
10. brief background about the entity acquired in ● Incorporated on 20/12/2013
terms of products/line of business acquired, ● Business & Products: Manufactures
date of incorporation, history of last 3 years UAV and UAV components
turnover, country in which the acquired entity ● Turnover and geographical presence
has presence and any other significant cannot be disclosed due to private
information (in brief); ownership.
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ideaForge Technology Limited (Formerly ideaForge Technology Private Limited) EL-146, T.T.C. Industrial Area, M.I.D.C. Mahape, Navi Mumbai - 400 710. Maharashtra (India) Ph.(O): +91 (22) 6787 1000 (F) +91 (22) 6787 1007
Email: [email protected] CIN No. L31401MH2007PLC167669