Garuda Aerospace positioning itself as a leading Indian drone startup will become a historical first by conducting its Initial Public Offering (IPO) in 2025. The rapid growth of drone technology at Garuda Aerospace led to a fast expansion of products with key investments while establishing major roles within India’s agricultural defense and industrial sectors. The drone industry in India will witness a major event through the company’s forthcoming IPO that bases its success on essential investor support and robust market influence.
About Garuda Aerospace
Garuda Aerospace established itself in 2016 as India’s leading drone technology company. It provides cutting-edge services to defence, agricultural, and consumer product sectors that conduct industrial inspections. The company led agricultural and farming advancements with its Kisan Drones product, which serves millions of farmers in India.
The Precision AgriTech segment leads to a 55% market share for Garuda Aerospace because the company has manufactured more than 25% of all drones operating in India. The company supports national goals through its affordable innovative drone products which will lead India to become a worldwide drone hub by 2030.
Key Achievements and Milestones
10 lakh+ flight hours
3,000+ drones sold
PAN-India presence with 400+ training centres
Strategic partnerships with Lockheed Martin, Thales, Intel, Amazon, DRDO, HAL, BEL, and Cognizant
The Kisan Drone Yatra saw tremendous success after Prime Minister Narendra Modi initiated its commencement.
Technological collaborations for AI, ML, and big data applications in drone technology
Garuda Aerospace’s Product Portfolio
As a leading drone provider, Garuda Aerospace delivers drones that meet requirements for agricultural uses along with defence purposes and surveillance needs logistics support and industry requirements. The primary product line of Garuda Aerospace includes the following items:
Agricultural Drones:
Kisan Drone: Designed for Farming productivity gets improved with the Kisan Drone which serves as an advanced drone tool for crop health monitoring and pesticide spraying tasks.
Seed Spreading Drone: Using Seed Spreading Drone farmers receive automated seed plantation which enhances efficiency and produces uniform seed distribution across their fields.
Crop Disease Diagnostic System: The Crop Disease Diagnostic System uses AI to detect diseases in crops at an early stage so that farmers can take prompt management actions.
Defence and Surveillance Drones:
Surveillance Drone: The Surveillance Drone serves border security and anti-terror operations by offering real-time monitoring ability.
Canister Grenade Dropping System: Aerial military operations receive an enhancement through the Canister Grenade Dropping System which provides accurate grenade delivery from airborne platforms.
Miniature Radar System: The Miniature Radar System allows reconnaissance missions to benefit from compact radar devices with sophisticated capabilities.
Industrial Drones:
Oil & Gas Pipeline Leak Detection Drones: Specific oil and gas pipeline leak monitoring drones provide detection capabilities that protect both human safety and environmental stability.
Structural Damage Assessment Drones: Drones designed for structural assessment provide industry professionals with tools to report infrastructure damages thus enabling proper scheduling of maintenance needs.
Warehouse & Inventory Inspection Drones: The use of warehouse & inventory inspection drones leads to streamlined warehouse examination and inventory control which minimizes human involvement while enhancing measurement precision.
At Aero India 2025, Garuda Aerospace introduced new advanced drone models with uses in defense applications safety maintenance and military applications. These include:
Cargo Logistics Drone
The Land Mine Detection & Diffusement System represents one of their products.
Water Measurement Drone
Trishul Riot Control Drone Traffic Management System.
The State Disaster Response Force (SDRF) receives a Firefighting Drone as part of their equipment.
Drone in Box
Tethered Buoy Drone
Life Buoy Drone for naval and coast guard operations
Visit the official website of Garuda Aerospace for all the necessary details about their product line.
Financial Growth: Funding and Valuation
Garuda Aerospace has shown substantial financial growth along with market expansion throughout the previous few years. The business operates through drone-as-a-service (DaaS) by designing drone systems for agricultural and defence sectors alongside surveillance methods industrial applications and logistical operations.
Funding Milestones
November 2022: Raised $5 million from an infrastructure development company and a group of high-net-worth individuals and angel investors from India, the UAE, and Singapore.
February 2023: The business obtained $22 million in funding through its Series A round which SphitiCap directed. The money collected through investment allowed the company to expand its research capabilities and operations across multiple cities including Tier II and III urban areas.
October 2023: Venture Catalysts and We Founder Circle teamed up to provide ₹25 crores ($3 million) which supported defence-related drone ventures and consumer drone operations.
Valuation and Revenue Growth:
Valuation: According to the evaluation data of November 2022, Garuda Aerospace demonstrated a market value of about $250 million.
FY22: Operating revenue for the latest fiscal year surpassed ₹15.31 crores establishing a 7.2 times increase from the previous year while profits achieved ₹3.63 crores.
FY23: Operating revenue during FY23 business year will exceed 200% of FY22 values and the company expects to reach ₹46.8 crores.
FY24: Garuda Aerospace is expected to reach ₹1,000 crores in revenue in FY24 while planning to sell 25,000 agricultural drones as their main target.
Strategic Partnerships and Clientele:
Garuda Aerospace has partnered with Lockheed Martin and Elbit Systems together with the Indian Institute of Science and IIT-Madras as well as MIT Boston to build its strategic relationships. The company maintains a wide range of customers that exceeds 750 clients including TATA, Godrej, Adani, Reliance and Swiggy, Flipkart, Delhivery and L&T as well as the Survey of India and SAIL, NTPC, IOCL and various smart city projects.
Additionally, Mahendra Singh Dhoni invested his funds into Garuda Aerospace and became its official ambassador while assuming the role of stakeholder.
The company operates over 500 pilots who command 400 drones throughout 26 Indian cities and actively seeks expansion into different international markets including the USA South America and Africa for drone exports.
Indian Drone Market: Growth and Potential
Drone services in India are undergoing a revolutionary change due to regulatory changes and government-backed initiatives.
2021: Introduction of the Production-Linked Incentive (PLI) scheme for drone manufacturing.
2022: ‘Drone Shakti’ Initiative Initiative started in 2022 as a plan to increase drone usage across multiple sectors.
2023: Through the SVAMITVA scheme in 2023, the government approved funds worth ₹120 crore for establishing drone startups.
2024-2029: Drone industry projections show a scheduled growth from $654 million to $1.437 billion which will maintain a 17.0% CAGR between 2024 and 2029.
IPO Listing and Market Expectations
Garuda Aerospace intends to list its stock on the NSE and BSE during 2025. Experts predict the drone IPO will achieve over $500 million valuation thus establishing itself as one of India’s largest drone initial public offerings.
Expected IPO Details:
IPO : Expected during Q2-Q3 2025
Stock Exchange: NSE, BSE
Estimated Valuation: Approximate $500+ million
Primary Use of Funds: R&D expansion, global market entry, and scaling manufacturing operations.
IPO Timeline and Preparations
The business firm Garuda Aerospace originally aimed to debut on the public market during 2024 yet it decided to go public in mid-2025. By extending its timeline before entering the stock market Garuda Aerospace builds a stronger market position while expanding operations and securing extra investments. The company plans to obtain pre-IPO funding from sources present early in 2024 as part of its financial foundation development.
Financial Growth and Valuation
Garuda Aerospace gained $255 million valuation from August 2024 until the current period. The company plans to exceed ₹1,000 crores in sales revenue before the fiscal year ends according to its projections. The rising market demand for drones serves as a primary growth factor for the company as it plans to sell more than 25,000+ units to agricultural customers.
Strategic Investments and Key Partnerships
MS Dhoni reinforced his investment in Garuda Aerospace by adding ₹3 crore to his total share value exceeding 1.1% during October 2024. The brand has achieved significant market exposure through his participation and received valuable financial backing from his association.
Global Collaborations: Garuda Aerospace works with Lockheed Martin and Elbit Systems and Indian research institutions to improve technology capabilities while expanding worldwide sales operations.
Market Outlook and Expectations
Garuda Aerospace stands well-prepared to take advantage of growing market opportunities because of speedy industry growth backed by governmental support along with technological development. The forthcoming IPO seeks to generate considerable investor momentum because it showcases investor trust in the company’s ability to scale up innovation alongside both financial success and market expansion potential.
Conclusion
The forthcoming IPO of Garuda Aerospace signifies a major development for the drone industry in India. The company holds a powerful market position together with leading-edge innovations while benefiting from astute financial investments which positions it well to exploit increasing drone demands across the nation. Through its leadership role, Garuda Aerospace drives India’s advancement into the position of a global drone centre while it introduces cutting-edge drone technology for agricultural use defense applications and industrial automation. A great deal of anticipation surrounds the historical initial public offering of Garuda Aerospace because it holds the potential to redefine drone sector performance in India.