DroneAcharya Aerial IPO opens on December 13 to raise funds for sensors, infrastructure

Pune-headquartered DroneAcharya Aerial Innovations today announced its initial public offering will open on December 13, 2022, and close on December 15, 2022. It will offer 62.90 lakh shares (Rs 10/- paid up) through the book-building process in the price band of Rs 52-54 per share. Of the 62.90 shares offered, 8.98 lakh shares are reserved for high networking individuals, 11.94 lakh shares are reserved for qualified institutional buyers, and 20.92 lakh shares will be offered to retail investors.

The shares of the company will be listed on the BSE SME Exchange. The book-running lead manager to the issue is Corporate Capital Ventures. Bigshare Services is the registrar to the issue, and R K Stock Holding is the market maker to the issue.

Where will the funds be utilised?

The fresh funds raised will be utilised to purchase and manufacture drones, sensors and processing infrastructure. Further, the company plans to open 12 new training centres by March 2023.

DroneAcharya AI

DroneAcharya AI is one of the first private players to receive a DGCA (Directorate General of Civil Aviation)-certified RPTO (Remote Pilot Training Organization) licence in 2022. Since March 2022, 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.

Earnings

For Q1FY23, the company reported a total revenue of Rs 308.96 lakhs and a net profit of Rs 72.06 lakhs.

Published on: Monday, December 05, 2022, 05:41 PM IST