Khaitan & Co has advised ideaForge Technology Limited and the Lead Managers including JM Financial Limited and IIFL Capital Services, on its Qualified Institutional Placement (QIP) aggregating to INR 500 crores. Hogan Lovells Cadwalader acted as the international counsel to ideaForge on this transaction.
The company has allotted 2,89,308 equity shares at INR 795 per share. The issue was launched on July 7, 2026 and closed on July 10, 2026, with proceeds earmarked for working capital, debt repayment, product development, and general corporate purposes.
Khaitan’s core deal team included partners Gautham Srinivas, Sathvik Ponnappa, senior associate Vaishnavi Gupta, and associates Anubhav Jaiswal, Sarvesh Sharma, Shambhavi Gautam, Vidushi Tanya and Rishav Khetan.
The Hogan Lovells Cadwalader capital markets Team was led by head of the India practice and Dubai office managing partner Biswajit Chatterjee, with support from counsel Kaustubh George and associate Purva Mishra.
