09-Oct-2026 19:06:46
IDEAFORGE : SIGNS RS 151 CR LOAN PACT WITH TDB FOR YETI PROJECT
• Company entered loan agreement dated October 09, 2026 with Technology Development Board for Rs. 151 Cr, to be availed in tranches • Proceeds to fund YETI - heavy lift long range autonomous aerial logistics vehicle project • Facility is a term debt facility; entire sanctioned amount is yet to be disbursed • Security: first-ranking charge over identified project assets, plant, machinery and equipment created or acquired using the loan • Agreement carries standard commercial lending covenants, promoter share transfer restrictions (>20%), matching funding obligations and IPR retention terms • Follows Letter of Intent intimated on July 31, 2026; Term Sheet received October 07 and countersigned October 08, 2026
Ideaforge Technology Ltd
Open attachment