DroneAcharya Aerial Innovations, which generated a whopping 262 times subscription to its SME initial public offer, looks all set to deliver a strong listing gain on its market debut on BSE’s SME platform. Despite weakness in the secondary market in the last couple of sessions, the issue was commanding a grey market premium (GMP) of Rs 50 over the issue price of Rs 54, hitting at a strong listing pop.┬а
The IPO was commanding a GMP of Rs 72 on Wednesday and stayed in Rs 65-70 in the previous few sessions.
The Rs 33 crore issue had generated bids for Rs 6,016.78 crore during its IPO bidding process, attracting bids for 109.61 crore shares.┬а
The IPO saw 330.75 times retail subscription. It received bids for 69.19 crore shares against mere 20.92 lakh shares on offer. ┬аThe non-institutional investor category (NII) was subscribed 388.71 times, accounting for over 34.90 crore shares against 8.98 lakh shares on offer. The qualified institutional buyer (QIB) category Was also subscribed 46.21 times, representing 5.51 crore shares against 11.94 lakh shares on offer.
DroneAcharya is one of the first private players to receive a DGCA certified RPTO (Remote Pilot Training Organization) license in 2022. Since The company has trained more than 180 drone pilots. It has rolled out several concise and industry-relevant Drone and GIS courses designed to upskill and empower young Indians to build a new-age career within the drone ecosystem.
The company has plans to enter manufacture of customised 100 per cent indigenous drones and offers land and underwater surveying services, which include powerlines & utilities, oil & gas infrastructure, mines and quarries, energy & renewables, roads & highways, urban & rural planning, Agriculture & Irrigation, Underwater Inspection, and Underwater Bathymetry.
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