Multibagger Defence Drone Company Receives In-Principle Approval for Rs 151 Crore Government Funding; FII & DII Stake Increases

ideaForge Technology received a Letter of Intent from the Technology Development Board for in-principle financial assistance of up to Rs 151 crore under the RDI Scheme.

The funding is for the 'YETI – Heavy Lift Long Range Autonomous Aerial Logistics Vehicle' project, with an estimated cost of Rs 302 crore.

The loan carries a 4% simple interest rate and must be repaid within three years from first disbursement.

During Q1 FY27, DII stake in ideaForge rose to 10.98% from 2.69%, and FII stake increased to 8.27% from 4.89%.

The final sanction is subject to due diligence and execution of definitive agreements.