Ideaforge Technology Receives In-Principle Loan Approval from TDB for Project Development
Ideaforge Technology Limited has received an in-principle approval to consider financial assistance from the Technology Development Board (TDB), a statutory body under the Department of Science and Technology, Government of India. This support is intended for the company's project titled "YETI - Heavy lift long range autonomous aerial logistics vehicle."The management of Ideaforge Technology Limited has reviewed the terms outlined in the Letter of Intent (LOI) dated July 27, 2026, and accepted the proposal from TDB. The LOI grants preliminary approval for financial assistance through a loan under the Research Development and Innovation Scheme (RDI Scheme).
The total estimated cost of the "YETI" project is INR 302.00 Crore. Under the in-principle approval conveyed by the TDB, the proposed financial assistance amount does not exceed INR 151.00 Crore.
The LOI outlines several key terms and conditions associated with the financing. The loan will carry a simple interest rate of 4% per annum and has a tenure of 3 years from the date of the first disbursement. Disbursement is contingent upon the company arranging an equivalent amount from non-Government sources and achieving corresponding milestones.
The transaction is domestic in nature, and neither the Promoters nor the Promoter Group have any interest in the issuing entity; consequently, it does not fall under Related Party Transactions.
Key details concerning this financial assistance are summarized below:
| Aspect | Detail |
|---|---|
| Awarding Entity | Technology Development Board (TDB), Department of Science and Technology, Government of India |
| Project Name | YETI - Heavy lift long range autonomous aerial logistics vehicle |
| Assistance Type | Financial Assistance as a Loan under RDI Scheme |
| Total Estimated Cost | INR 302.00 Crore |
| Proposed Financial Limit | Not exceeding INR 151.00 Crore |
| Interest Rate | Simple interest of 4% per annum |
| Tenure | 3 years from the date of first disbursement |
The LOI specifies that it conveys TDB's in-principle approval and intention, noting that it does not constitute a final binding commitment or sanction letter until definitive agreements are executed following satisfactory completion of due diligence and fulfillment of prescribed conditions.
IDEAFORGE Stock Price Movement
Ideaforge Technology Limited shares rallied today, closing up 3.31% to settle at ₹875.10, having gained ₹28.15 during the trading session. The stock saw a traded volume of 160,489 shares in this move.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.