ideaForge CEO Ankit Mehta Pledges 2.8 Lakh Shares for Personal Financial Needs

A filing on the stock exchange shows that the pledge began on September 28 2026. After this transaction Ankit Mehta’s total pledged shares grew to six point five lakh, which equals 1.30 percent of ideaForge’s share capital.

Using ideaForge’s opening price on the BSE the pledged shares are worth about twenty point five six crore rupees.

Ankit Mehta’s Shareholding in ideaForge

Ankit Mehta currently owns thirty six point eight seven lakh shares of ideaForge which means Ankit Mehta holds a 7.42 percent stake in ideaForge.

The pledged shares make up about 2.23 percent of Ankit Mehta’s total holding in ideaForge. After the pledge six point five lakh shares owned by Ankit Mehta are now pledged.

This development occurs while ideaForge’s stock has risen fifty four percent in 2026 according to the report.

ideaForge Financial Performance

ideaForge reported results in the first quarter of fiscal year twenty seven.

ideaForge recorded operating revenue of sixty eight point six crore rupees, which's a 436 percent jump from the previous year. Yet this quarter’s revenue fell 51 percent from one hundred forty one crore rupees in the quarter.

ideaForge showed a loss of two point three crore rupees in Q1 of fiscal year twenty seven while the last quarter of fiscal year twenty six ended with a net profit of sixty one crore rupees.

ideaForge Raises ₹500 Crore Through QIP

In July 2026 ideaForge raised five hundred crore rupees through an institutional placement or QIP.

ideaForge issued sixty two point eight nine lakh shares, each priced at seven hundred ninety five rupees to qualified institutional buyers.

IdeaForge plans to use about one hundred sixty five crore rupees of the proceeds for working capital. One hundred twenty crore rupees will go toward debt repayment or prepayment. Ninety crore rupees will fund product development.

GST Demand Against ideaForge

The recent share pledge follows ideaForge’s receipt of a one hundred nine point two crore rupee GST demand and penalty order. This order concerns alleged tax underpayment for the period from January 2022 to March 2024.

The GST issue is unrelated to the pledge of shares and concerns ideaForge’s tax proceedings.

About ideaForge Technology

ideaForge Technology is a company that makes drone technology. IdeaForge builds aircraft systems, for defence, security and other uses. The company is listed on stock exchanges and Ankit Mehta is one of its promoters and senior leaders.

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