Ideaforge Technology Limited

Mahindra Manulife Mutual Fund acquired 740,887 shares of Ideaforge Technology Limited, representing a 1.49% stake. The investment is valued at approximately ₹67.24 crore, based on the share price of ₹907.50. This marks a new position for the fund in the company.

A manufacturer of unmanned aircraft systems for the aerospace and defense sectors, ideaForge designs and produces advanced drones for commercial, industrial, and defense applications. Established in 2007, the company specializes in developing indigenous UAS technology tailored for India's operational requirements. Its portfolio includes systems for surveillance, mapping, reconnaissance, and tactical operations across defense, government, and commercial sectors.

Joint venture between Mahindra Group and Manulife Investment Management of Canada. Manages over Rs 30,000 crore. Focuses on equity and hybrid fund strategies with a quality growth bias inherited from the Manulife global investment framework. Leverages the Mahindra Group's brand and distribution reach for retail investor outreach.