Droneacharya Aerial Innovations IPO: GMP signals strong gain from NSE SME issue

Droneacharya Aerial Innovations IPO: After strong response by investors to this NSE SME's initial public offering (IPO), bidders are eagerly waiting for the finalisation of share allocation. As per Droneacharya Aerial Innovations IPO subscription status available on BSE website, the public issue worth ₹33.97 crore has been subscribed 243.70 times in three days bidding from 13th to 15th December 2022. Retail portion of the IPO got subscribed 330.82 times whereas NII (Non Institutional Investors) portion of the SME IPO got subscribed 287.80 times.

Meanwhile, grey market has gone highly bullish on this SME IPO after the strong response being given by the IPO investors. Despite weak sentiments on Dalal Street, grey market premium (GMP) of the Droneacharya Aerial Innovations IPO has surged further after the closure of subscription. According to market observers, shares of Droneacharya Aerial Innovations Ltd are available at a premium of ₹72 in grey market today.

Droneacharya Aerial Innovations IPO GMP today

Market observers said that Shankar Sharma-backed Droneacharya Aerial Innovations IPO GMP today is ₹72, which is ₹2 higher from its Thursday GMP of ₹70. This means GMP of the public issue has risen despite Dalal Street reversing its two days uptrend on Thursday session. They said that grey market response to Droneacharya Aerial Innovations IPO is praiseworthy as it is a SME IPO, which is attracting attention of investors and other stake holders when main board IPOs have received tepid response in the primary market.

What this GMP means?

Market observers went on to add that Droneacharya Aerial Innovations IPO GMP today is ₹72 that means grey market is of the opinion that the SME share will list at around ₹126 apiece levels ( ₹54 + ₹72), which is more than 130 per cent from Droneacharya Aerial Innovations IPO price band of ₹52 to ₹54 per equity share. They said that grey market is signaling that shares of drone solution company may have a dream debut on Dalal Street when it lists on the BSE SME exchange on 23rd December 2022.

However, stock market experts cautioned that GMP is not an ideal indicator about success or failure of an IPO. They said that GMP is completely speculative and non-regulated and it has nothing to do with the balance sheet of the company. So, one should not rely much on Droneacharya Aerial Innovations IPO GMP as possible multibagger return on the listing date.

Droneacharya Aerial Innovations IPO details

Droneacharya Aerial Innovations IPO allotment date is most likely on 20th December 2022 whereas Droneacharya Aerial Innovations IPO listing date is likely on 23rd December 2022.