Garuda Aerospace: Drone Technology Startup Plans Public Listing

Garuda Aerospace is leading the way in drone technology as it prepares to transition into a public company, having recently approved a resolution for this significant change. This decision marks the beginning of preparations for a potential stock market listing. According to a filing with the Registrar of Companies, the company’s board has resolved to change its name to Garuda Aerospace Limited by omitting the term “Private”.

Board Appointments to Strengthen Governance

In compliance with regulatory standards, Garuda Aerospace has appointed Asha Vijayaraghavan, Mandakulathur Ramachandran Venkatesh, and Rithika Mohan as independent directors. Additionally, Vishnu Jayaprakash has been brought on as an additional director, while Rithika Mohan also takes on the role of whole-time director.

Innovative Drone Services and Fleet Size

Founded in 2015, Garuda Aerospace operates as a drone-as-a-service company, specialising in the design, manufacture, and customisation of UAVs for various applications, including deliveries, disaster management, and agricultural services. The company boasts the largest drone fleet in India, consisting of 400 drones and employing 500 pilots across 84 cities, offering a diverse range of 30 drone models along with 50 related services.

Successful Funding and Future Plans

Recent data from various startup intelligence sources reveals that Garuda Aerospace has successfully raised around $44 million from several investors, including Nagarajan Seyyadurai, Ocgrow Ventures, and the renowned cricketer MS Dhoni. The firm recently secured additional funding from the Narotam Sekhsaria Family Office, which will enhance its manufacturing capacity from 8,000 drones per year to an impressive 12,000–15,000 units. Furthermore, Garuda plans to expand its export operations to 50 countries by the end of the year.

Financial Performance and Growth Outlook

For the fiscal year concluding in March 2025, Garuda Aerospace, backed by MS Dhoni, reported a profit of Rs 17.5 crore, with operating revenue increasing by 7.3% to reach Rs 118 crore, up from Rs 110 crore in the previous fiscal year. Earlier in the year, Garuda’s CEO suggested that the IPO is unlikely to happen in 2025; however, the company is actively planning to enhance its manufacturing and research and development efforts.