GARUDA AEROSPACE : $10 Mn Pre-IPO Funding at $320 Mn Valuation: Can Garuda’s Drone Story Take Flight Into the IPO Market
Garuda Aerospace has raised around $10 Mn (~₹96 Cr) in fresh pre-IPO funding at a $320 Mn pre-money valuation, with the round led by the Motherson Family Office and Dubai-based Aditum Investment Group. The timing is important. Garuda has already received SEBI observations on its confidential IPO filing, and the company is reportedly targeting a Q1 CY2027 listing. The proposed IPO is expected to be around ₹1,000 Cr, comprising up to ₹750 Cr fresh issue and ~₹250 Cr OFS. In simple terms: a fresh institutional transaction has now put a ~₹3,000 Cr+ private-market valuation benchmark on Garuda just as it moves closer to the public markets.
The annual report also provides a glimpse into Garuda's ongoing pre-IPO capital raising. A private placement of 9,94,498 shares at ₹575.18/share, aggregating to ₹57.2 Cr, was proposed in August 2026. The largest proposed allottee was AVCF1 LP, acting through Aditum Management GP 1 Ltd, subscribing to ~₹50 Cr.
Important: the ₹57.2 Cr private placement disclosed in the annual report should not automatically be treated as identical to the separately reported ~$10 Mn round; the latest media reports identify Motherson Family Office and Aditum as the investors in the $10 Mn transaction
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October 8, 2026