Drone technology company ideaForge Technology Ltd has secured a significant contract from the Survey of India (SOI) for its Q6 V2 VTOL drones to support mapping and geospatial operations. According to CNBC TV18, the drones are expected to help the agency collect high-quality aerial and geospatial data across varied terrains and project environments. The Q6 V2 is a lightweight, high-endurance platform with vertical take-off and landing (VTOL) capabilities, designed and developed entirely in India. The drone features advanced mapping payloads, autonomous navigation and encrypted communication systems, can be deployed in under 10 minutes, and is DFCA-certified for geospatial intelligence applications. As per ideaForge, the company's engagement with the Survey of India reflects the growing relevance of indigenous UAV technology in specialized applications where reliable and timely data is important.
Drone technology company ideaForge Technology Ltd has signed a ₹151 crore loan agreement with the Technology Development Board (TDB) to fund its YETI heavy-lift, long-range autonomous aerial logistics vehicle project. According to a stock exchange filing, the term debt facility will be disbursed in tranches to support the development of this strategic project. The company received the formal term sheet from the Technology Development Board on October 7 and accepted its terms, with the countersigned term sheet executed and delivered on October 8 ahead of the loan agreement signed on October 9, 2026. The loan carries a simple interest rate of 4% and is part of the ₹302 crore total project cost with a three-year loan tenure.
Shares of ideaForge Technology Ltd closed 1.4% higher at ₹745.7 ahead of the latest announcement on Tuesday, as reported by CNBC TV18. The stock has advanced 61% so far in 2026, reflecting strong investor confidence in the company's growth trajectory. The transaction does not involve any relationship with the company's promoters, promoter group or group companies and does not fall under related-party transactions. However, the company faces significant tax challenges, having received a ₹109.17 crore retrospective CGST demand from Belapur tax authorities on October 1, 2026, comprising ₹54.59 crore in tax and ₹54.59 crore in penalty for the FY22-FY24 period. The company plans to legally challenge this demand, citing a 2025 government policy clarifying a 5% GST rate for drones.
The YETI autonomous logistics drone project is designed for logistics capacity of up to 200 kg payload and range of up to 200 km, specifically engineered for high-altitude environments. As per the latest reports, this represents a significant expansion of ideaForge's capabilities beyond intelligence-surveillance-reconnaissance (ISR) to tactical logistics. The project will be milestone-linked, requiring matching non-government co-funding to keep operations disciplined, with capital disbursements strictly tied to specific progress targets. The agreement includes standard commercial lending covenants, restrictions on promoter share transfers exceeding 20%, matching funding obligations and intellectual property rights retention terms. The Q6 V2 drone specifically enables large-scale mapping projects to be completed faster and more efficiently, complementing conventional survey methods by improving speed, coverage and frequency of data collection and processing.
