Why this drone startup is eyeing IPO now

Drone startup Garuda Aerospace is preparing to go public, having confidentially filed papers with SEBI to raise ₹1,000 crore.

What’s brewing: the IPO includes a fresh issue of ₹750 crore and an offer for sale (OFS) worth ₹250 crore, where existing investors will pare their stakes.

Founded in 2015, Garuda Aerospace operates in the drone-as-a-service space, building and deploying drones for use cases like deliveries, disaster management, and agriculture.

Zoom out: in March 2026, 38 companies filed draft papers with SEBI, up sharply from 22 last year and 16 in 2024.

The momentum is expected to continue, with many firms awaiting approvals or ready to launch. Despite market volatility, 18 IPOs have already hit the market this year, including 8 in March alone. 

Now, India’s IPO pipeline is heating up, and Garuda Aerospace is looking to take flight at just the right time.