Droneacharya Aerial Innovations IPO: Latest GMP ahead of shares listing
1 min read . Updated: 21 Dec 2022, 09:16 AM IST
Premium- Droneacharya Aerial Innovations IPO witnessed strong subscription
The initial public offering (IPO) of Droneacharya Aerial Innovations was launched last week on Tuesday, December 13, 2022 and concluded on Thursday, December 15, 2022. Droneacharya Aerial Innovations Limited offers end-to-end customized drone ecosystem solutions to a range of businesses.
The Droneacharya Aerial Innovations IPO witnessed strong subscription as the issue was booked 243.70 times with retail category overbooked 330.82 times, qualified institutional buyers (QIBs) 46.21 times, and non institutional investors (NIIs) 287.80 times.
The company offerered 62.90 lakh shares ( ₹10/- paid up) through the book-building process in the price band of ₹52-54 per share. Marquee investors led by Shankar Sharma and others picked up stake in the company in the pre-IPO funding. The fresh funds raised will be utilised to purchase and manufacture drones, sensors and processing infrastructure.
As per market observers, Droneacharya Aerial Innovations shares are available at a premium of (GMP) of ₹69 in the grey market today. The shares of the company will be listed on BSE SME Exchange and is expected to debut this week on Friday, December 23, 2022.
DroneAcharya is engaged in enterprise drone solutions for mining, agriculture, oil and gas, powerlines, highways, shipping, and urban and rural planning.
The company is a Directorate General of Civil Aviation (DGCA) authorized Remote Pilot Training Organisation (RPTO) offering training in drone construction, aerial cinematography, data processing, Python for GIS, drones in agriculture, drones for disaster management, and lastly droneracing.
It aspires to start producing drones that are 100% indigenous and customized. Since March 2022, the company has trained more than 180 drone pilots. Further, the company plans to open 12 new training centres by March 2023. For the year ended 31st March 2022, the company reported a revenue of ₹358.73 lakh and net profit of ₹40.65 lakh.
The company is seeking to boost its operating revenues by 300% within three years by training 25,000 drone pilots each year, according to founder and managing director Prateek Srivastava.
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“For FY24, topline should be ₹50-60 crore and 18-20% PAT (profit after tax). For next three years, we are looking at 300% year-on-year growth in topline and 18-20% PAT. Optimistically and conservatively around 300% is very achievable." Srivastava said.
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