Introduction:
The SME market of the BSE saw a successful launch from Pune’s DroneAcharya Aerial Innovations Ltd. Compared Stock Market Success for Drone Startup Dronacharya to its issue price of Rs 52–Rs 54 per share, the company’s stock was listed at a premium of 88%, at Rs 102 per share, inline with the ongoing IPO GMP in the informal market.
In the moments following the company’s IPO, its stock price soared to a new all-time high of Rs 107.10 per share, locking it at the 5% upper limit of the circuit breaker. The share price dropped to a low of Rs 96.90 when investors cashed in their profits, but it has since recovered those losses. On its first trading day, the business had a total of 26.92 million shares exchanged, for a transaction of Rs 27.57 crore.
Its initial public offering (IPO) was met with an overwhelmingly positive reaction from investors of all types; the whole amount of Rs. 6,017 crore in bids was subscribed more than 262 times. Corporate Capital Ventures Private Ltd was the sole bookrunner and lead manager for the offering, while Bigshare Services Private Ltd was in charge of registration.
Droneacharya, which was founded by Prateek Shrivastava and is supported by Bollywood superstars Aamir Khan and Ranbir Kapoor as well as market veteran Shankar Sharma, had considerable demand for its first public offering (IPO) from both high net worth individuals (HNIs) and retail investors.
The non-institutional investor category (NII) was booked 388.71 times during the Rs 33 crore public offering, while the retail subscriptions were oversubscribed by 330.75 times.
The qualified institutional buyer (QIB) market category had 46,21% of its offerings purchased. Between the 13th and the 15th of December, users of the BSE SME IPO platform had the opportunity to subscribe to Dronacharya Aerial Innovations Limited’s first public offering.
Dronacharya Aerial Innovations is a company that specialises in the use of drones for training, services, and surveillance. It is one of the first private players to earn a Remote Pilot Training Organization (RPTO) licence from the aviation watchdog, the Directorate General of Civil Aviation(DGCA). Since March of 2022, the business has provided training for more than 180 drone pilots.
Conclusion:
To help young people acquire more marketable skills, the business has introduced a number of condensed and industry-relevant GIS and drone training courses. It intends to enter the manufacturing of specialised and wholly indigenous drones, as well as provide land and underwater surveying services.
These services will cover a wide range of industries, such as power lines and utilities, oil and gas infrastructure, mines and quarries, energy and renewables, roads and highways, urban and rural planning, agriculture and irrigation, underwater inspection, and underwater bathymetry.
