{
  "id": 12116055,
  "title": "ideaForge Founder Ankit Mehta Pledges 2.8 Lakh Shares For “Personal Requirements”",
  "url": "https://urgent.news/2026/10/05/ideaforge-founder-ankit-mehta-pledges-2-8-lakh-shares-for-personal",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-05T08:30:41.000Z",
  "source": {
    "name": "Inc42",
    "slug": "inc42",
    "url": "https://inc42.com/buzz/ideaforge-founder-ankit-mehta-pledges-2-8-lakh-shares-for-personal-requirements/"
  },
  "original_language": "en",
  "account": "Promoter of ideaForge Technology, Ankit Mehta, has pledged 2.8 lakh shares, accounting for 0.56% of the company's total share capital, to meet \"personal financial requirements.\" The pledge was made on September 28 in favor of Infina Finance Pvt Ltd, following which the total encumbered shares held by Infina rose to 6.50 lakh, constituting 1.30% of ideaForge's share capital. The CEO, who owned 36.87 lakh shares, or 7.42% of the company prior to the pledge, now holds 2.23% of promoter holding after the fresh pledge.\n\nThe shares of ideaForge are currently trading on an upward trend, having gained approximately 54% year-to-date. However, the drone maker reported a net loss of ₹2.3 crore in Q1 FY27, a reversal from the ₹61 crore profit reported in Q4 FY26. Despite this, operating revenue increased by 436% year-on-year to ₹68.6 crore, although it declined 51% sequentially from ₹141 crore in the March quarter.\n\nIn the second quarter of the current fiscal year, ideaForge raised ₹500 crore through a qualified institutional placement in July, allotting around 62.89 lakh shares to investors at ₹795 per share. Of the proceeds, about ₹165 crore was allocated for working capital, ₹120 crore for debt repayment or prepayment, and ₹90 crore for product development. Recently, the company received a ₹109.2 crore GST demand and penalty order for alleged tax underpayment for January 2022 to March 2024. As of 13:40 IST, shares of ideaForge were trading 2.97% lower at ₹712.50.",
  "summary": "Dronetech company ideaForge Technology promoter and CEO Ankit Mehta has pledged 2.8 Lakh shares — 0.56% of the company’s total…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}