The immense demand for shares of IdeaForge Technology Ltd. during its initial public offering has made it clear that the country's investors—be it institutional or retail—are looking to grab a piece of the sunrise sector.
India's Growing Drone Sector
The Indian drone sector is at a "very nascent" stage, according to Bathini. He expects drones to be used in logistics, defence, and agriculture initially.
"These are the initial core industries and the immediate use case in India is defence," he said.
The largely private sector has seen sizeable investments, with 2022 being the best year, according to data from Tracxn. So far in 2023, venture capital funds and private equity investors have pumped in around $25 million.
The sector has seen steady interest from investors. While Garuda Aerospace Pvt. is the most highly valued company in the space, according to Tracxn, it's IdeaForge that has raised the most capital.
India has also witnessed an influx of various stakeholders, including corporations, high-net-worth individuals, and angel investors rushing for a share of the pie.
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