Garuda Aerospace prepares for IPO

The Chennai-based drone start-up Garuda Aerospace plans to expedite its Initial Public Offering (IPO) following ‘Namo Drone Didi’ initiative launched by Prime Minister Narendra Modi. This program allocates a sum of ₹1,261 crores to deploy 15,000 Kisan Drones, which will revolutionise the agricultural landscape and empower rural communities, particularly women entrepreneurs, says a company release.

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The allocation of substantial funds for Kisan Drones underscores the government’s unwavering commitment to fostering innovation and driving meaningful societal impact within the agricultural sector. The company is committed to training and equipping these entrepreneurs with Kisan Drones to bolster Women Self-Help Groups over the next two years, the release said.

Agnishwar Jayprakash, Founder and CEO of Garuda Aerospace, in the release said the company is accelerating the IPO plans to expand operations, intensify our research and development efforts, and better serve the agricultural community.

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