Celesta Capital, a venture capital firm, has reportedly sold 3.57 lakh shares of drone manufacturer IdeaForge in a bulk deal on June 18, 2024, fetching Rs 27.46 crore. The shares were transacted at Rs 768.08 each, with buyers including Graviton Research, QE Securities, and HRTI, according to media reports.
Founded in 2007 by Ankit Mehta, Ashish Bhat, Rahul Singh, and Vipul Joshi, IdeaForge specializes in UAV systems for inspection, surveillance, and mapping. Having gone public in June 2023, the company recently disclosed a 30% sequential decline in net profit to Rs 10.3 crore for Q4 FY24.
Following the transaction, IdeaForge’s stock surged 6.7% to close at Rs 830.85 on the BSE, reflecting investor confidence amidst the bulk deals executed, including those by Aakraya Research and NK Securities totaling Rs 136.3 crore.