Key Quantitative Figures
- Loan amount: ₹151 Crores (One Hundred and Fifty-One Crores)
- Facility type: Term Debt Facility
- Security: First-ranking charge over identified project assets, plant, machinery, and equipment created/acquired using the loan facility
Dates of Action
- Letter of Intent received: Previously intimated on July 31, 2026
- Formal Term Sheet received: October 07, 2026
- Countersigned Term Sheet executed and delivered: October 08, 2026
- Loan agreement executed: October 09, 2026
Parties Involved
- Borrower: ideaForge Technology Limited
- Lender: Technology Development Board (TDB)
Purpose and Project Details
The loan facility is for "YETI - Heavy lift long range autonomous aerial logistics vehicle" project. The purpose is financial assistance to ideaForge Technology Limited for project development.
Significant Terms and Conditions
- Standard commercial lending covenants
- Promoter share transfer restrictions (transfers exceeding 20%)
- Matching funding obligations
- IPR retention terms
- No special rights regarding appointment of directors or restriction on capital structure
- No related party relationship exists
- Transaction is not a related party transaction
Disbursement Status
Total amount outstanding: Amount yet to be disbursed (to be released in tranches)