 "Droneacharya Aerial Innovations IPO lists at 90% premium; details of bumper debut here")
Droneacharya Aerial Innovations had a successful stock market debut on Friday when it listed at Rs 102 on the BSE’s SME platform, a premium of 90 per cent over its initial public offering price of Rs 54 per share.
Following the listing, Droneacharya Aerial Innovations shares reached a high of Rs 107.10, making investors’ wealth nearly double whereas it recorded an intraday low of Rs 96.90 apiece. The stock ended the session up by 98.33 per cent at Rs 107.10.
Investors responded positively to the Droneacharya Aerial Innovations IPO during its three-day bidding period from 13 December to 15 December 2022. The firm generated Rs 33.97 crore via its initial stake sale of 2,000 shares in lots of Rs 52 each. The company was listed in the Diversified Commercial Services industry.
The retail portion of the issue was subscribed 330.82 times, compared to 243.70 subscriptions for the public issue. In the Qualified Institutional Buyer (QIB) category, the SME IPO received 46.21 times subscription, while in the Non-institutional Investor II category, it was bid upon 287.80 times.
The most recent pre-seed fundraising round for Droneacharya concluded at a staggering $4.6 million. The business raised money to pay for corporate overhead costs as well as the purchasing of drones and other accessories.
Founded in 2017, Droneacharya Aerial Innovations is headquartered in Pune, Maharashtra. The business offers a high-end ecosystem of drone solutions, including multi-sensor drone surveys, workstations with robust high-configuration processing power, training for drone pilots, and specialised GIS training. Droneacharya has a workforce of 40 people and over 70 per cent of its revenue comes from clients based in Maharashtra.
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