Dronetech firm ideaForge Expertise’s promoter and CEO Ankit Mehta has pledged 2.8 lakh shares within the firm for “private monetary necessities”.

The shares signify about 0.56% of ideaForge’s whole fairness share capital.

In response to a inventory trade disclosure, the pledge was created on 28 September in favour of Infina Finance Personal Restricted.

Following the transaction, Mehta’s whole encumbered holding elevated to six,50,370 shares, representing 1.30% of the corporate’s whole share capital.

Mehta holds 36,86,964 shares in ideaForge, equal to about 7.42% of the corporate. The most recent pledge of two.8 lakh shares represents about 7.6% of his particular person holding.

Based mostly on ideaForge’s BSE opening worth of Rs 732.65 on Monday, the shares lined by the most recent pledge had a notional market worth of about Rs 20.51 crore.

Monetary efficiency

The pledge comes after a pointy shift in ideaForge’s quarterly monetary efficiency.

The corporate reported a consolidated web lack of Rs 2.59 crore within the quarter ended June 2026, in contrast with a consolidated net profit of Rs 59.99 crore within the March quarter.

Income from operations stood at Rs 68.59 crore within the June quarter, up about 437% from Rs 12.78 crore in the identical interval a 12 months earlier. Nonetheless, income fell about 51% sequentially from Rs 141.04 crore within the March quarter.

In July, ideaForge raised Rs 500 crore by means of a QIP. The corporate allotted 62,89,308 fairness shares to eligible QIBs at a problem worth of Rs 795 per share.

In response to the QIP paperwork, about Rs 165 crore of the proceeds was earmarked for working capital necessities, Rs 120 crore for the compensation or prepayment of sure borrowings and Rs 90 crore for product growth. The remaining proceeds had been meant for basic company functions.

Individually, ideaForge just lately acquired an order from the GST authorities demanding Rs 54.586 crore in tax and imposing an equal penalty of Rs 54.586 crore, taking the mixed tax demand and penalty to about Rs 109.17 crore.

The order pertains to the interval from January 2022 to March 2024. In response to the corporate’s trade disclosure, the tax authority alleged a brief fee of GST through the interval. ideaForge has stated it intends to problem the order by means of an enchantment.