Issuing Entity: Technology Development Board (TDB), Department of Science and Technology, Government of India
LOI Date: July 27, 2026
Project Name: "YETI - Heavy lift long range autonomous aerial logistics vehicle"
Total Estimated Project Cost: INR 302.00 Crore (Indian Rupees Three Hundred Two Crore only)
Proposed Financial Assistance: In-principle approval for amount not exceeding INR 151.00 Crore (Indian Rupees One Hundred Fifty-One Crore only)
Final amount subject to TDB's sole discretion
Financial Assistance Terms
Nature of Assistance: Financial Assistance in the form of a Loan under the Research Development and Innovation Scheme ("RDI Scheme")
Interest Rate: Simple interest of 4% per annum
Tenure: 3 years from the date of the first disbursement
Disbursement Terms: To be released in multiple tranches subject to the Company arranging equivalent amount from non-Government sources and achieving corresponding milestone executions
Conditions and Status
Management has reviewed terms and conditions and submitted acceptance within stipulated period
LOI conveys TDB's in-principle approval/intention only
Not a final binding commitment until execution of definitive agreements following due diligence and fulfilment of prescribed conditions
Additional conditions include satisfactory completion of due diligence and other standard conditions per RDI Scheme guidelines and term sheet
Transaction Classification
Domestic transaction (not international)
Not a Related Party Transaction: None of the Promoters/Promoter Group/Group Companies have any interest in the issuing entity
Does not fall within Related Party Transactions under applicable laws and regulations
