Aug 6, 2026 – 3.39pmInnovaero, a Western Australian developer and manufacturer of attack drones used by the Australian Defence Force, on Thursday flung open the book for its $40 million initial public offering in hopes of listing on the ASX next month.Innovaero’s drones are used by the ADF and eyeing clients overseas. Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.Angira Bharadwaj is a co-editor of Street Talk. She covers IPOs, capital raises, mergers and acquisitions and other breaking news in Australia’s capital markets. Previously, she covered financial services, state, and federal politics. Send tips to @angirab.60 on encrypted messaging platform Signal.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?
Drone maker Innovaero opens books for $158m ASX debut
The Australian Defence Force has awarded the IPO hopeful 13 contracts worth $47.4 million over the past five years, according to fund-raising documents.
TL;DRAI
Innovaero, Australian attack-drone maker for the ADF, launches $40M IPO targeting ASX listing at $158M valuation. Capital inflow for autonomous defense hardware signals investor appetite; matters for IT leaders tracking sovereign supply chains and critical infrastructure.
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