India, Aug. 6 -- Chennai-based Garuda Aerospace has received SEBI's final observation for its proposed IPO, paving the way for the dronetech startup to launch its public issue.

According to SEBI's latest update on offer documents, the capital markets regulator issued its final observation yesterday, following the startup's confidential pre-filing earlier this year.

Garuda Aerospace pre-filed its DRHP with SEBI in April through the confidential route. In March, the startup's board had approved an IPO comprising a fresh issue of equity shares worth up to Rs.750 Cr along with an undisclosed offer-for-sale (OFS) component. As per reports, the OFS component could include share sale worth Rs.250 Cr.

With this, the company is expected to soon...