Saturday, February 24th, 2024

Bumper listing of Droneacharya Aerial Innovations, listed at 90% premium

Droneacharya Aerial Innovations IPO: There is a huge decline in the Indian stock market. Two new IPOs have been listed on the stock exchange on Friday, which is listed below the issue price of the IPO. But the share of SME IPO Droneacharya Aerial Innovations did wonders on the very first day of listing. Shares of Droneacharya Aerial Innovations have been listed at Rs 102, up 90 per cent from its issue price. The company had fixed the price band of the IPO at Rs 52 to 54.

Shares of Droneacharya Aerial Innovations went up to Rs 107.10 after being listed at Rs 102. With a jump of 5 per cent, the stock hit the upper circuit. Earlier, the IPO got tremendous response from the investors. The IPO was open for applications from investors from 13 to 15 December. According to BSE data, this IPO of Rs 34 crore was oversubscribed a total of 243.70 times.

The size of the IPO of Droneacharya Aerial Innovation was Rs 34 crores but this IPO has received applications for a total share of Rs 8285.8 crores. The reserve quota of retail investors was subscribed 330.82 times and the quota of non-institutional investors was subscribed 287.80 times. For retail investors, a lot of 2000 shares was kept for Rs 1.08 lakh. Renowned stock market investor Shankar Sharma has invested in Pune based Drone Acharya Aerial Innovation.

Droneacharya Aerial Innovation is a startup company. Apart from Shankar Sharma, investors like Herschel Mode and Ashish Nanda are also invested in the company. Switzerland-based Wellstone Capital has also taken a pre-IPO stake in the company. Manufacturing of drones and sensors will be done with the amount raised through IPO.

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Droneacharya Aerial Innovation is the first company in the private sector to get certified RTPO (Remote Pilot Training Organization) from DGCA (Directorate General of Civil Aviation). The company got the license in 2022. In the first quarter of 2022-23, the company’s revenue was Rs 3.09 crore, on which there was a profit of Rs 72.06 lakh.

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