ideaForge Technology Receives In-Principle Approval for ₹151 Crore Financial Assistance from Technology Development Board (TDB)

ideaForge Technology Limited (BSE: 543932, NSE: IDEAFORGE) 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 extend financial assistance of up to ₹151.00 Crore for ideaForge's flagship project, "YETI - Heavy lift long range autonomous aerial logistics vehicle." The company's management has reviewed the terms and submitted its formal acceptance within the stipulated timeframe.

Key Terms of the Project & Financial Assistance

Project Overview

Project Title: YETI - Heavy lift long range autonomous aerial logistics vehicle

Total Estimated Project Cost: ₹302.00 Crore (Indian Rupees Three Hundred Two Crore)

Target Domain: Autonomous heavy-lift aerial logistics for defense and dual-use commercial applications.

Financial Assistance Terms

Proposed Loan Amount: In-principle approval for an amount not exceeding ₹151.00 Crore (final sanction subject to TDB's sole discretion).

Scheme Name: Research Development and Innovation Scheme (RDI Scheme).

Interest Rate: Simple interest rate of 4% per annum.

Tenure / Project Period: 3 years from the date of the first disbursement.

Disbursement Structure: Phased release in multiple tranches, contingent on ideaForge matching equivalent funding from non-government sources and achieving predefined operational milestones.

Conditions Precedent & Legal Nature

Non-Binding Nature: The LOI conveys in-principle approval and does not constitute a final binding sanction letter. Final disbursement remains subject to satisfactory due diligence, execution of definitive agreements, and standard conditions under TDB's RDI Scheme.

Strategic Significance for ideaForge

The development of Project YETI positions ideaForge to address heavy-payload autonomous aerial transport demands across challenging terrains-a critical capability for both military logistics and industrial operations. Obtaining soft-loan funding at a low 4% p.a. interest rate lowers the capital cost required for heavy-lift UAV R&D.

Shares of Ideaforge Technology Limited was last trading in BSE at Rs. 875.00 as compared to the previous close of Rs. 850.95. The total number of shares traded during the day was 11755 in over 516 trades.

The stock hit an intraday high of Rs. 880.05 and intraday low of 851.10. The net turnover during the day was Rs. 10213662.00.

Source : Equity Bulls

Keywords

IdeaforgeTechnology Aerospae Defense INE349Y01013 LOI