Garuda Aerospace, a Chennai-based startup, has filed for an initial public offering (IPO) to raise approximately ₹1,000 crore. This includes ₹750 crore from a fresh issue. The company manufactures drone systems for surveillance and logistics in the defense sector and is developing a 76-acre defense park in Cheyyur, Tamil Nadu, aimed at enhancing drone technology for military applications. Founded in 2015 by Agnishwar Jayaprakash and Rithika Mohan, Garuda initially focused on agricultural drones before shifting its focus to defense, driven by government demand and strategic partnerships. The company has collaborated with major players such as Bharat Electronics, Thales, Airbus, and Lockheed Martin. In FY25, Garuda reported revenues of ₹118 crore and a profit of ₹17.5 crore, having raised $49.5 million across nine funding rounds. The increasing significance of drone warfare, highlighted by recent global conflicts, has further fueled interest in the company's offerings.