• Dronacharya Aerial Innovations IPO gets strong subscription
The Initial Public Offer (IPO) of Dronacharya Aerial Innovations was launched last week on Tuesday, December 13, 2022 and ends on Thursday, December 15, 2022. businesses.
Dronacharya Aerial Innovations IPO witnessed strong subscription as the issue was booked 243.70 times, with retail category subscribed 330.82 times, qualified institutional buyers (QIBs) 46.21 times and non-institutional investors (NIIs) 287.80 times.
The company offered 62.90 lakh shares (₹10/- paid-up) through book-building process in the price band of ₹52-54 per share. In the pre-IPO funding, marquee investors led by Shankar Sharma and others bought stake in the company. The new funds raised will be used to purchase and build drones, sensors and processing infrastructure.
According to market observers, Dronacharya Aerial Innovations shares are available at a premium (GMP) of ₹69 in the gray market today. The shares of the company will be listed on BSE SME exchange and is expected to commence trading on Friday, December 23, 2022.
DroneAcharya is engaged in enterprise drone solutions for mining, agriculture, oil and gas, power lines, highways, shipping and urban and rural planning.
The company is a Directorate General of Civil Aviation (DGCA) authorized Remote Pilot Training Organization (RPTO) providing training in drone manufacturing, aerial cinematography, data processing, Python for GIS, drones in agriculture, drones for disaster management and lastly drone racing Is.
It aspires to start production of drones that are 100% indigenous and customized. Since March 2022, the company has trained over 180 drone pilots. In addition, the company plans to open 12 new training centers by March 2023. For the year ended 31st March 2022, the company registered a revenue of ₹358.73 Lakh and a net profit of ₹40.65 Lakh.
According to founder and managing director Prateek Srivastava, the company is looking to grow its operating revenue by 300% within three years by training 25,000 drone pilots every year.
“For FY24, the topline should be ₹50-60 crore and 18-20% PAT (profit after tax). For the next three years, we are looking at 300% YoY growth in topline and 18-20% PAT. Optimistically and conservatively around 300% is very achievable," Srivastava said.
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