ideaForge- IIT Bombay Alumni’s Drone Company  Goes Publicand Becomes the 7th Largest  Drone Company in the World

19 Dec 2023

ideaForge, India’s leading drone manufacturer, was co-founded by IIT Bombay alumni, Mr. Ankit Mehta (B. Tech. & M. Tech., Mechanical Engineering, 2005), Mr. Rahul Singh (B. Tech., Mechanical Engineering, 2006), and Mr. Ashish Bhat (B. Tech., Electrical Engineering, 2007) in 2006 at SINE, IIT Bombay.

Since then the company has grown from strength to strength and recently become a publicly listed company. With this new milestone, ideaForge also became the 7th largest drone manufacturer worldwide.

The three young and visionary alumni members of IIT Bombay eschewed traditional paths taken by their peers including moving overseas and/or taking a non-engineering path after graduating from the Institute. Instead, they stayed back in India and built a robust engineering company that specialized in building surveillance drones – a product that was way ahead of its times.

The company launched its IPO earlier in July 2023 and was oversubscribed by a whopping 106 times. The opening day of the listing almost doubled the wealth of its shareholders.

The journey of the intrepid student tinkerers who went the incubation route with the help of SINE to shape a drone industry that is now listed on the public stock exchange is inspirational, to say the least.

Watch the live video of IdeaForge Technology making its market debut here:

IIT Bombay is extremely proud and congratulates Mr. Ankit Mehta, Mr. Rahul Singh, and Mr. Ashish Bhat for their extraordinary accomplishments. The Institute cannot wait to see what the future holds for these three illustrious alumni.