Garuda Aerospace converts into public company
Garuda Aerospace, a leading drone technology startup in India, has taken a significant step toward becoming a public company by passing a board resolution to remove “Private” from its name, rebranding as Garuda Aerospace Limited. This move indicates the company’s intent to prepare for a future public listing.
To comply with regulatory norms, Garuda Aerospace has appointed independent directors Asha Vijayaraghavan, Mandakulathur Ramachandran Venkatesh, and Rithika Mohan. Additionally, Vishnu Jayaprakash joins as an additional director, with Rithika Mohan also named a whole-time director.
Founded in 2015, Garuda Aerospace specializes in drone-as-a-service, offering design, manufacturing, and customization of UAVs for applications including delivery, disaster relief, and agriculture. Operating India’s largest drone fleet, the company has deployed over 400 drones and 500 pilots across 84 cities. Their product lineup features 30 drone models and more than 50 drone-related services.
To date, Garuda Aerospace has secured around $44 million in funding from investors, including Nagarajan Seyyadurai, Ocgrow Ventures, and cricketer MS Dhoni. Recently, they received investment from the Narotam Sekhsaria Family Office aimed at increasing production capacity from 8,000 to up to 15,000 drones annually. The company also plans to expand exports to 50 countries by the end of 2025.
Financially, the MS Dhoni-backed startup reported a profit of Rs 17.5 crore for the fiscal year ending March 2025, with operating revenue rising by 7.3% to Rs 118 crore from Rs 110 crore the previous year.
Though Garuda Aerospace’s CEO has clarified that the initial public offering (IPO) is not expected in 2025, the company continues to focus on scaling manufacturing and advancing R&D capabilities in preparation for the future.
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