Loan agreement signed with Technology Development Board for Rs. 151 Crores for the YETI aerial logistics vehicle
ideaForge has entered a loan agreement dated October 09, 2026 with the Technology Development Board for Rs. 151 Crores, in tranches, for the YETI heavy-lift long-range autonomous aerial logistics vehicle.
- Loan Amount
- Rs. 151 Crores
- Lender
- Technology Development Board (TDB)
- Purpose
- YETI heavy-lift long-range autonomous aerial logistics vehicle
What the company announced
- ideaForge Technology Limited has entered into a loan agreement dated October 09, 2026 with the Technology Development Board (TDB).
- The loan is of Rs. 151 Crores, to be availed in tranches.
- The money is for a project called YETI - Heavy lift long range autonomous aerial logistics vehicle.
- This follows the company's earlier intimation dated July 31, 2026 about receipt of a Letter of Intent from TDB. The formal Term Sheet was received from TDB on October 07, 2026, and the countersigned Term Sheet was executed and delivered to TDB on October 08, 2026.
How the loan is structured
- Lender: Technology Development Board (TDB).
- Nature of the loan: Term Debt Facility.
- Total amount sanctioned: Rs. 151 Crores.
- Total amount outstanding: the loan amount is yet to be disbursed.
- Security proposed to be provided: a first-ranking charge over identified project assets, plant, machinery and equipment created/acquired using the loan facility for this project.
What the agreement includes
- Standard commercial lending covenants.
- Promoter share transfer restrictions (above 20%).
- Matching funding obligations.
- IPR retention terms.
- No special rights have been given regarding appointment of directors or restriction on capital structure.
- The parties are not related to the promoter, promoter group or group companies, and the transaction is not a related party transaction.
What a retail investor can take away
- The company has signed a term debt facility of Rs. 151 Crores with a government body for one specific project, the YETI aerial logistics vehicle.
- The facility is to be availed in tranches, and the update states the loan amount is yet to be disbursed.
- In return for the funding, the company proposes to give a first-ranking charge over identified project assets, plant, machinery and equipment created or acquired using the loan.
- The agreement also carries promoter share transfer restrictions above 20%, matching funding obligations and IPR retention terms, while stating that no special rights on board appointment or capital structure have been given.
In short: the update records the signing of a Rs. 151 Crores term debt facility with the Technology Development Board for the YETI project, the security proposed against it, and the covenants attached to the agreement.
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More numbers
- Loan to be availed from Technology Development BoardRs. 151 Crores
- Size of agreementRs. 151 Crores
- Total amount sanctionedRs. 151 Crores
- Promoter share transfer restrictions>20%
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