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April 5, 2026
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- Sun, 5 April 2026
Garuda Aerospace has filed a confidential draft red herring prospectus as it prepares to raise Rs 1000 crore through an upcoming public listing. The issue is expected to include a fresh issue of Rs 750 crore along with an offer for sale of Rs 250 crore. The company is targeting a valuation between Rs 4000 crore and Rs 5000 crore with a potential listing timeline around December 2026.
The proceeds from the fresh issue are expected to support research and development along with expansion initiatives.
India’s drone ecosystem is entering a new phase where early movers are transitioning from deployment scale to capital markets readiness. A public listing from a sector focused drone company signals growing investor confidence in deep tech manufacturing and aerial services infrastructure.
Garuda Aerospace’s IPO preparation reflects rising institutional interest in drone platforms serving agriculture, defence, and infrastructure sectors.
Founded in 2015 and headquartered in Chennai, Garuda Aerospace builds and deploys drones across agriculture, defence, and industrial inspection use cases. The company has deployed more than 5000 drones globally and serves over 500 enterprise and government clients.
It currently holds around 30 percent share in India’s agricultural drone segment.
Garuda Aerospace is expanding production capacity from 12000 units in FY25 to 25000 units by FY26. This increase is supported by new facilities and export focused deliveries as the company strengthens its global presence.
The scale up reflects growing demand across both domestic and international drone services markets.
The company has partnered with Airbus Helicopters to acquire up to 18 Flexrotor unmanned aerial systems. These systems are expected to support long endurance missions across infrastructure monitoring, energy operations, defence applications, and disaster response.
The collaboration signals Garuda’s push toward higher capability drone platforms and international service expansion.
Garuda Aerospace reported revenue of around Rs 125 crore and profit of around Rs 20 crore in FY25. The company has raised approximately 49.5 million dollars across funding rounds and reached a post money valuation of about Rs 2420 crore during its Series B round in August last year.
Early investors include Venture Catalysts and We Founder Circle, while Mahendra Singh Dhoni remains associated with the company as a brand ambassador and stakeholder.
With increased manufacturing capacity, global partnerships, and expansion across defence and infrastructure services, Garuda Aerospace is positioning itself as a major player in India’s emerging drone ecosystem ahead of its planned public market entry.
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