ideaForge gets Rs 151 Cr in-principle govt loan for YETI drone project

Business Updates View source PDF Explain this filing

IDEAFORGE · price

Loading chart…

▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reaction · full curve 14 horizons · vs prior close

+0.2%1-day move

₹879.05

prior close

₹892.00

base price

After-mkt

timing

5m10m15m30m1D2D3D4D5D7D15D1M2M3M

-0.3-0.0+0.3-0.4+0.2-1.2+4.2+3.6+2.6-7.8-9.1-11.6——

Up moveDown movePending

AI summary

ideaForge received a Letter of Intent from Technology Development Board (TDB), a Government of India statutory body. TDB gave in-principle approval for a loan of up to Rs 151 Crore at 4 percent simple interest for 3 years, for the YETI project, a heavy lift long range autonomous aerial logistics drone. Total project cost is Rs 302 Crore. The loan will be released in tranches, matched by equivalent non-government funds. The LOI is not a final binding commitment and depends on due diligence and definitive agreements.

Likely market impact

Positive, Rs 151 Cr low-cost government loan support for the YETI drone project, but disbursal is conditional and not yet final.