ideaForge Allocates INR 26.5 Lakh in Equity Shares to Employees

ideaForge, a leading drone manufacturing startup, has allotted an additional 4,126 equity shares under its Employee Stock Option Plan (ESOP) 2018. 

The shares, with a face value of INR 10 each, were granted to eligible employees upon the exercise of vested options. This decision was approved by the company’s board and will increase its paid-up capital from INR 43.03 crore to INR 43.04 crore. 

The newly allotted shares are valued at INR 26.42 lakh at the company’s last closing stock price of INR 640.55 per share.

The drone tech firm, which specializes in unmanned aerial vehicles (UAVs) for sectors like defense, construction, and agriculture, has been regularly allotting equity shares through its ESOPs. 

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Previous allotments occurred in August, October, November, and September 2024, with a total of over 47,000 shares distributed throughout the year. 

Founded in 2007, ideaForge’s product offerings have gained traction in industries requiring surveillance, inspection, and mapping. Despite posting a net loss of INR 13.7 crore in the second quarter of FY 2024, the company reported a 56% year-on-year increase in its operating revenue, reaching INR 37.1 crore.

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This move comes at a time when many startups, including Paytm, Zomato, and Delhivery, are introducing ESOP rounds to retain talent amid rising competition for skilled employees. 

Additionally logistics unicorn Shiprocket and Delhivery have also expanded their employee stock option plans signaling the broader industry trend of offering stock options to enhance employee retention and engagement.

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