Dronetech Startup Garuda Aerospace Plans Rs 1,000 Crore IPO

Garuda Aerospace, the dronetech startup Garuda Aerospace, has reportedly filed confidential draft papers with the Securities and Exchange Board of India (SEBI), marking a key step toward its public listing.

The dronetech startup Garuda Aerospace is aiming to raise around Rs 1,000 crore through its initial public offering, according to recent media reports, as it looks to scale operations in India’s fast-growing drone sector.

The IPO is expected to include a fresh issue of shares worth up to Rs 750 crore, while details of the offer-for-sale (OFS) component remain undisclosed.

The company said it will first submit a pre-filed draft red herring prospectus (DRHP) with SEBI and stock exchanges, followed by updated filings before submitting the final prospectus to the Registrar of Companies (RoC), SEBI, and the exchanges where it plans to list.

Also Read: Future-Proofing Automation: Trends in Grippers and Tool Changers

Ahead of the dronetech startup Garuda Aerospace IPO, the company’s board has approved a stock split, reducing the face value of shares from Rs 10 to Rs 2 each as part of its pre-IPO restructuring.

Founded in 2015 by Agnishwar Jayaprakash, Garuda Aerospace builds drones for sectors like defense, agriculture, logistics, and surveillance. It also offers drone-as-a-service solutions, expanding its footprint across industries.

The company operates in several cities and has trained thousands of certified drone pilots through DGCA-approved programs. It reportedly manufactures over 30 drone models and provides services ranging from agriculture to industrial inspections and disaster response, strengthening its position in India’s drone technology market.