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Garuda Aerospace Secures SEBI Approval for ₹750 Crore IPO, Moves Closer to Public Listing
India's booming drone industry is preparing for another major milestone. Garuda Aerospace, one of the country's leading drone technology companies, has received SEBI's final observation for its proposed Initial Public Offering (IPO), paving the way for its entry into the public markets.
The Chennai-based startup plans to raise up to ₹750 crore through a fresh issue of shares, alongside an Offer for Sale (OFS) by existing shareholders. While the exact size of the OFS is yet to be disclosed, the approval marks a significant step in Garuda Aerospace's journey toward becoming one of India's first listed drone technology companies.
Filed Through the Confidential Route
Garuda Aerospace had confidentially filed its Draft Red Herring Prospectus (DRHP) with SEBI in April 2026. The confidential filing mechanism allows companies to delay the public disclosure of sensitive information such as financials, valuation, and issue details until they are ready to launch the IPO. This route has become increasingly popular among India's new-age technology startups seeking greater flexibility in timing their public offerings.
As part of its pre-listing preparations, the company has also approved a stock split, reducing the face value of its equity shares from ₹10 to ₹2.
About Garuda Aerospace
Founded in 2015 and headquartered in Chennai, Garuda Aerospace has emerged as one of India's leading drone technology companies, offering integrated drone manufacturing, Drone-as-a-Service (DaaS), and pilot training solutions.
The company serves multiple sectors, including:
- Agriculture
- Defence
- Infrastructure
- Mining
- Disaster management
- Industrial inspections
- Enterprise solutions
Its drones are used for applications such as precision agriculture, aerial surveying, mapping, surveillance, inspections, logistics support, and data-driven analytics.
Riding India's Drone Growth Story
Garuda Aerospace's IPO comes at a time when India's drone ecosystem is witnessing rapid growth, supported by government initiatives, increasing commercial adoption, and the push for indigenous technology under the "Make in India" initiative.
The company joins a growing list of technology startups opting for confidential IPO filings, reflecting the increasing maturity of India's startup ecosystem and the strong pipeline of public market listings expected in 2026.
What Investors Should Watch
With SEBI's approval now in hand, investors will closely monitor the release of the public DRHP, which is expected to reveal key details including:
- Financial performance
- Valuation
- Shareholding structure
- Use of IPO proceeds
- Growth strategy
As India's drone industry continues to expand across agriculture, defence, infrastructure, logistics, and enterprise applications, Garuda Aerospace's upcoming IPO is expected to be one of the most closely watched public issues in the country's deep-tech and aerospace sector.
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