Drone survey startup Matrix Geo Solutions files ₹40.2 crore IPO
Matrix Geo Solutions, known for its drone-powered aerial surveys, just opened its IPO aiming to raise ₹40.2 crore by offering 38.65 lakh new shares at ₹98-104 each.
The offer is open until Thursday, and shares are set to list on the NSE SME platform on September 30.
Anchor investors have already put in ₹11.34 crore.
The company uses drones for aerial surveys
Matrix Geo uses drones and tech like LiDAR and GIS to help with big projects—think feasibility studies for the Ahmedabad-Mumbai bullet train or Pune-Mumbai Hyperloop.
They've finished over 1,500 projects across India.
Matrix Geo's financials and IPO proceeds
In FY25, Matrix Geo's revenue jumped 61% to ₹22.2 crore and profit after tax rose 75% to ₹5.9 crore.
Money from this IPO will go toward buying more drones and survey gear, expanding operations, covering working capital needs, and general corporate purposes—basically fueling their next phase of growth.