Garuda Aerospace IPO: Drone Startup Receives SEBI Nod for Public Issue

Now let’s get closer to IPO details: 

In March, Garuda Aerospace’s board approved an IPO plan that includes a fresh issue of shares worth up to ?750 crore, along with an offer-for-sale (OFS) component, the details of which have not been disclosed.  

The confidential filing process allows companies to keep important information like financial details, valuation, and IPO structure private until they are ready to officially proceed with the issue.  

Sources also said that, before the IPO, Garuda Aerospace also approved a stock split, reducing the face value of its shares from ?10 to ?2 as part of its pre-listing preparations.  

About Garuda Aerospace:

The company offers drone-based solutions for industries including agriculture, defence, infrastructure, mining, disaster management, and enterprises. Its services include precision spraying, aerial monitoring, mapping, inspections, logistics support, and data-led insights. 

Garuda Aerospace has worked on projects with government bodies, public sector organisations, and private companies in India. The company has also partnered with Indian and global organisations for developing and implementing drone technologies.