New Delhi (India), March 02: With the burgeoning demand for drone technology across various sectors, Garuda Aerospace emerges as a frontrunner poised to make waves in the industry. As the company gears up for its Initial Public Offering (IPO), it presents a compelling proposition backed by a stellar track record, diverse clientele, and robust growth projections. From pioneering drone manufacturing to offering innovative drone-as-a-service solutions, Garuda Aerospace stands as a beacon of innovation and opportunity in the ever-evolving landscape of aviation technology.
Why Garuda Aerospace?
Diverse Customer Portfolio: Garuda Aerospace is one of the leading players in the drone sector, offering both drone manufacturing and drone-as-a-service solutions. The company has a fleet of over 500 drones and a presence across 84 cities in India and abroad. It serves over 400 clients, including prominent names such as Vedanta, Adani, Cipla, Asian paints, Tata, Godrej, Reliance, Cipla, L&T, Survey of India, Lockheed Martin, and Elbit Systems.
Integrated Platform: The company caters to a wide range of applications, such as sanitization, agricultural spraying, surveillance, mapping, inspection, delivery, and defense. It also provides drone pilot training courses and skilling programs, creating employment opportunities in the emerging field.
Strong Fundamentals: Garuda Aerospace has been growing rapidly, especially after the COVID-19 pandemic, which increased the demand for drones in various sectors. The company expects to close the current fiscal year with a turnover of Rs 120-150 crore, up from Rs 47 crore in the previous year. It aims to reach Rs 800-1,000 crore by FY24.
Government Support: Garuda is the only startup to have 100 drones launched simultaneously, in 100 different villages by Honorable Prime Minister Narendra Modi Ji. The Indian government has also been supportive of the drone sector, launching various initiatives and policies to promote its development and adoption. For instance, recently launched the ‘Namo Drone Didi’ scheme, which aims to provide drones to women farmers for crop management and monitoring. The government has also eased the regulations and norms for drone operations, making it easier for startups like Garuda Aerospace to operate and scale.
Recent Fund Raise of Garuda Aerospace
“We are delighted to announce that we have successfully raised 1.5 crores in less than 3 days with the help of Planify, the leading platform for Pre-IPO investing in India. The round was oversubscribed, which shows the strong interest and confidence of the investors in our vision and mission. We are thankful for their support and we are committed to delivering value to them and the society at large. We believe that drones are the future of technology and we are excited to be at the forefront of this revolution.” says Agnishwar Jayaprakash, founder of Garuda Aerospace.
A lucrative opportunity for investors
The IPO of Garuda Aerospace is expected to be a landmark event for the Indian drone industry, witnessing a surge in demand and innovation. The government has recently announced a new drone policy that simplifies the regulations and promotes the growth of the sector. The policy also allows drone startups to raise funds from foreign investors, which could boost the valuation and attractiveness of Garuda Aerospace.
According to a report by PwC India, the Indian drone market is estimated to reach $885.7 million by 2021, growing at a compound annual growth rate (CAGR) of 25.8%. The report also states that the drone industry has the potential to generate over one million jobs and contribute $50 billion to the GDP by 2030.
The company plans to use the proceeds of the IPO to expand its operations, scale up its production capacity, develop new products and services, enter new markets, and invest in research and development. The company also intends to collaborate with global players in the defense and aerospace sectors and explore opportunities in the emerging fields of artificial intelligence, machine learning, and blockchain.
Conclusion
Garuda Aerospace IPO is a rare and exciting opportunity for investors to be a part of the drone revolution in India and the world. The company has a strong growth potential, a solid business model, a loyal customer base, and visionary leadership. The IPO is expected to be oversubscribed, given the high demand and interest in the drone sector. Therefore, investors should not miss this chance to invest in Garuda Aerospace IPO and reap the benefits of the future of aviation.
If you have any objection to this press release content, kindly contact [email protected] to notify us. We will respond and rectify the situation in the next 24 hours.
