ideaForge Technology Ltd invests in GalaxEye Space Solutions Pvt Ltd

ideaForge Technology Limited has entered into a Share Subscription Agreement and a Shareholders' Agreement on July 10, 2024 with GalaxEye Space Solutions Private Limited for acquiring Series A Compulsory Convertible Preference Shares of GalaxEye Space Solutions Private Limited at a total consideration of INR 8,28,72,720/- (Rupees Eight Crores Twenty-Eight Lakhs Seventy-Two Thousand Seven Hundred Twenty Only)

GalaxEye Space Solutions Private Limited is an IIT Madras incubated space tech startup currently based out of Bangalore. The team size is 50+ with background from globally prestigious institutes such as ISRO and IITs along with seasoned industry experts and leaders. GalaxEye Space Solutions Private Limited is building the world's first multi-sensor imaging satellite. These indigenously built satellites will enable governments, defense, and industries to perform advanced state-of-the-art geospatial analyses.

Shares of Ideaforge Technology Limited was last trading in BSE at Rs. 794.45 as compared to the previous close of Rs. 803.80. The total number of shares traded during the day was 71534 in over 6135 trades.

The stock hit an intraday high of Rs. 811.15 and intraday low of 780.00. The net turnover during the day was Rs. 56834301.00.

Source : Equity Bulls

Keywords

IdeaforgeTechnology Aerospae Defense INE349Y01013 Acquisition GalaxEyeSpaceSolutions