Garuda AeroSpace takes a step towards IPO

Garuda Aerospace has filed its confidential DRHP with SEBI, moving toward an IPO by late 2026.

According to the sources, the board approved an IPO structure comprising a fresh issue of up to ₹750 crore and an offer-for-sale (OFS).

Dronetech start-up Garuda Aerospace has pre-filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India, moving a step closer to an initial public offering, according to Inc42.

Not only IPO, but Garuda Aerospace has approved a stock split before its IPO, reducing the face value of its equity shares from ₹10 to ₹2 each. The stock split was approved at a 1:5 ratio.

The company will complete all official filings before listing its shares.

The startup has raised $37.1 million so far.

Its latest funding was $11 million in a Series B round. As per the source, this round was led by Venture Catalysts.

After this, the company’s valuation reached about $250 million.

Jagat Joshi

Founder of IPOWatch, brings nearly 15 years of experience in IPO analysis and market research. He provides complete coverage of upcoming IPOs, subscription trends, grey market premiums (GMP), and post-listing performance, along with easy-to-understand reviews, insights, and analysis. In his working journey, he has worked with various platforms and received expertise in stock market analysis and primary markets.

Jagat Joshi

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