IDEAFORGE TECHNOLOGY LIMITED — Capital/Financing Update 2025

Feb 7, 2025

www.ideaforgetech.com

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February 07, 2025

To, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai – 400 001. BSE Scrip Code:543932	To, The National Stock Exchange of India Limited “Exchange Plaza”, Bandra – Kurla Complex, Bandra (EAST), Mumbai – 400 051 NSE SYMBOL: IDEAFORGE

Sub: Intimation under Regulations 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (‘Listing Regulations’)

Dear Sir/Ma’am,

In accordance with Regulations 30 of the Listing Regulations, we wish to inform you that CRISIL Limited, via its letter dated February 06, 2025, after due consideration, reaffirmed its Crisil BBB+ (pronounced as Crisil triple B plus rating) rating to Ideaforge Technology Limited and revised the outlook to Negative from Stable. The credit rating for the instrument is as follows:

Name of the Company	Credit Rating Agency	Facilities/Instrument	Rating Action
ideaForge Technology Limited	CRISIL Limited	Corporate Credit Rating	CRISIL BBB+/Negative (Outlook revised to Negative from Stable)

Kindly take the above on record and oblige.

Thanking you,

For ideaForge Technology Limited

NILESH Digitally signed by NILESH RANJAN RANJAN JAYWANT Date: 2025.02.07 JAYWANT 10:37:32 +05'30'

Nilesh Jaywant Company Secretary & Compliance Officer Membership No. A26554

idea Forge Technology Limited (Formerly ideaForge Technology Private Limited) EL-146, T.T.C. Industrial Area, M.I.D.C. Mahape, Navi Mumbai - 400 710. Maharashtra (India) Ph.(O): +91 (22) 6787 1000 (F) +91 (22) 6787 1007

Email: info@ideaforgetech.com CIN No. L31401MH2007PLC167669

CONFIDENTIAL

RL/IDFTYPL/362719/CCR/0225/108916/134327557 February 06, 2025

Mr. Amit Shrishrimal

Director - Finance Ideaforge Technology Limited EL-146 TTC Industrial Area, Electronic Zone, MIDC Mahape, Navi Mumbai Thane - 400710 9833060394

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Dear Mr. Amit Shrishrimal,

Re: Review of Crisil Corporate Credit Rating for Ideaforge Technology Limited

All ratings assigned by Crisil Ratings are kept under continuous surveillance and review.

Crisil Ratings has, after due consideration, reaffirmed its Crisil BBB+ (pronounced as Crisil triple B plus rating) rating to Ideaforge Technology Limited and revised the outlook to Negative from Stable. Issuers with this rating are considered to have moderate degree of safety regarding timely servicing of debt obligations. Debt exposures to such issuers carry moderate credit risk.

As per our Rating Agreement, Crisil Ratings would disseminate the rating through its publications and other media, and keep the rating under surveillance. Crisil Ratings reserves the right to withdraw, or revise the rating at any time, on the basis of new information, or unavailability of information, or other circumstances which Crisil Ratings believes may have an impact on the rating. Please visit www.crisilratings.com and search with the name of the rated entity to access the latest rating/s.

Should you require any clarifications, please feel free to contact us.

With warm regards, Yours sincerely,

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Rushabh Pramod Borkar Nivedita Shibu Associate Director - CRISIL Ratings Director - CRISIL Ratings

Disclaimer : A rating by Crisil Ratings reflects Crisil Ratings’ current opinion on the likelihood of timely payment of the obligations under the rated instrument, and does not constitute an audit of the rated entity by Crisil Ratings. Our ratings are based on information provided by the issuer or obtained by Crisil Ratings from sources it considers reliable. Crisil Ratings does not guarantee the completeness or accuracy of the information on which the rating is based. A rating by Crisil Ratings is not a recommendation to buy / sell or hold the rated instrument; it does not comment on the market price or suitability for a particular investor. Crisil Ratings has a practice of keeping all its ratings under surveillance and ratings are revised as and when circumstances so warrant. Crisil Ratings is not responsible for any errors and especially states that it has no financial liability whatsoever to the subscribers / users / transmitters / distributors of its ratings. Crisil Ratings’ criteria are available without charge to the public on the web site, www.crisilratings.com . Crisil Ratings or its associates may have other commercial transactions with the company/entity. For the latest rating information on any instrument of any company rated by Crisil Ratings, please visit www.crisilratings.com or contact Customer Service Helpdesk at Crisilratingdesk@crisil.com or at 1800-267-1301

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