/
•
•
Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
India is ramping up focus on defence drones, and the decade-old startup wants public money to seize the opportunity. But the track record of listed peers offers a cautionary tale.
A decade after its launch, Garuda Aerospace, one of India’s leading drone tech companies, reportedly wants to raise a whopping Rs 1,000 crore, or about $105 million, through an initial public offering. To that end, the Chennai-based startup last month filed confidential draft papers with India’s market regulator, eyeing a fresh issue of Rs 750 crore.
“With the IPO proceeds, the company plans a new drone manufacturing facility focused on defence drones, alongside agri and industrial models, boosting capacity and the R&D scale,” says a person familiar with the company, requesting anonymity as they are not authorized to speak to …
The kingdom is moving to tighten the rules around public listings, algorithmic trading, trading in foreign securities and company disclosures—all in an effort to chase transparency.
As the smart fan maker gears up for an IPO, prospective investors could do with some clarity on what the company’s next phase of growth will look like.
The stock market regulator is investigating a string of disappointing public listings. The idea is to send a message.
