Ideaforge Receives LOI for ₹151 Crore Loan from TDB for 'YETI' Project
Ideaforge Technology Limited received an LOI from the Technology Development Board (TDB) for a loan of up to ₹151 Crore. The loan is for the 'YETI' project, with an estimated cost of ₹302 Crore. The loan terms include a 4% interest rate and a 3-year tenure.
The financial assistance is substantial and will support a key project, but it is an in-principle approval and not a final commitment, hence medium impact.
The company has received an in-principle approval for significant financial assistance, which is positive for its project development.
Ideaforge Technology Limited has received a Letter of Intent (LOI) dated July 27, 2026, from the Technology Development Board (TDB), a statutory body under the Department of Science and Technology, Government of India. The LOI conveys TDB's in-principle approval to consider financial assistance for the Company's project proposal, "YETI - Heavy lift long range autonomous aerial logistics vehicle".
The management of Ideaforge has reviewed the terms and conditions in the LOI and submitted its acceptance to TDB. The proposed financial assistance is in the form of a loan under the Research Development and Innovation Scheme (RDI Scheme), with an in-principle approval for an amount not exceeding ₹151.00 Crore. The total estimated cost of the 'YETI' project is ₹302.00 Crore.
Key terms of the proposed loan include a simple interest rate of 4% per annum and a tenure of 3 years from the date of the first disbursement. The disbursement will be in multiple tranches, subject to the company arranging an equivalent amount from non-Government sources and achieving project milestones. The LOI does not constitute a final binding commitment until definitive agreements are executed, following due diligence and fulfillment of prescribed conditions. This is a domestic transaction and does not involve any related party interests.
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Ideaforge Technology Limited filed this with the NSE as a statutory disclosure, categorised under debt fundraising. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Ideaforge Technology Limited. Read the original for the full detail.