Home / Markets / Ipo /  SME IPO: Shankar Sharma-backed firm's public issue to open next week. GMP, key details
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The initial public offering (IPO) of Droneacharya Aerial Innovations will begin next week on Tuesday, December 13, 2022 and end on December 15, 2022. Droneacharya Aerial Innovations Limited offers end-to-end customized drone ecosystem solutions to a range of businesses.

It will offer 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 15 in the grey market today. “On the valuation front, it looks good from long-term perspective and investors should track their orderbook and execution on quarter on the quarter basis to watch their performance," said Manish Khanna, Co-Founder, of Unlisted Assets.

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 shares of the company will be listed on BSE SME Exchange. The fresh funds raised will be utilised to purchase and manufacture drones, sensors and processing infrastructure.

Of the 62.90 shares offered, 8.98 lakh shares are reserved for HNI's, 11.94 lakh shares are reserved for QIB's and 20.92 lakh shares will be offered to retail investors.

The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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