Garuda Aerospace files for IPO after reporting record profits and ₹123.5 crore revenue

From defence drones to precision agriculture, this homegrown giant is soaring—now with a stock split and dual-exchange IPO. Will investors bite?

, and Administrator

2026 April 2 . 11:01 PM

2 min read

The image shows a DJI Mavic Air Fly More Combo drone flying in the air with a blurred background of... — The image shows a DJI Mavic Air Fly More Combo drone flying in the air with a blurred background of trees and sky.

Garuda Aerospace files for IPO after reporting record profits and ₹123.5 crore revenue

Garuda Aerospace, a drone manufacturer and service provider, has taken a major step toward going public. The company recently pre-filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). Known for its wide range of drones and training programmes, the firm has also reported strong financial growth in recent years. The Chennai-based company specialises in drones for defence, agriculture, surveillance, and logistics. It also offers drone-as-a-service (DaaS) solutions and claims to have trained over 100,000 drone pilots. Its clients include more than 100 government agencies and 500 private enterprises.

In the first half of FY26, Garuda Aerospace recorded a net profit of ₹11 crore on an operating revenue of ₹41.2 crore. The previous fiscal year saw even stronger performance, with a 12% year-on-year rise in revenue to ₹123.5 crore and a 41% jump in net profit to ₹18.4 crore. The company's board has approved an initial public offering (IPO) consisting of a fresh issue of up to ₹750 crore and an offer for sale (OFS) of unspecified size. The IPO will list primarily on the BSE SME platform, with a secondary listing on the NSE Emerge platform. Garuda Aerospace has raised $37.1 million to date, including an $11 million Series B round led by Venture Catalysts at a $250 million valuation. It holds key approvals from the Directorate General of Civil Aviation (DGCA) for drone type certification and operates a remote pilot training organisation (RPTO). The company also manufactures over 30 drone models and provides more than 50 services across sectors like precision agriculture and defence. Recently, the board approved a stock split, reducing the face value of its equity shares from ₹10 to ₹2 each.

The IPO plans mark a significant move for Garuda Aerospace as it expands its market presence. With strong financials, regulatory approvals, and a broad service portfolio, the company aims to strengthen its position in India's growing drone industry. The stock split and dual listing strategy further signal its preparation for public trading.