DroneAcharya Aerial Innovations, a drone firm with its headquarters in Pune and funding from well-known investors including Shankar Sharma, Mangina Srinivas Rao, and VC Kartik, is shortly moving to Dalal Street.
The pricing range for the company’s initial public offering (IPO), which will take place from December 13–15, is Rs. 52–54. A total of 62.90 lakh shares are being offered, of which 8.98 lakh would be made available to high net worth individuals (HNI), 11.94 lakh to qualified institutional buyers (QIB), and 20.92 lakh to ordinary investors.
Since it is a SME IPO, the minimum investment for regular investors is Rs 1.08 lakh, or 2,000 shares.
Ashish Nanda, the founder and managing director of the UAE-based business conglomerate Innovations Group, and Harshal Mode, an angel investor in media and entertainment-focused enterprises, are two other significant investors in the startup.
The funds raised will primarily be used to buy and produce drones and sensors, and the startup’s shares will be listed on the BSE SME Exchange.
Market guru Shankar Sharma, who has been buying small businesses like crazy, said: “Drones are used extensively across industries in the nation for surveys, deliveries, and surveillance, and this market is predicted to perform well in the years to come. We believe that the company has created a lot of value because it has rapidly expanded its operations and has exciting future plans.”
RPTO (Remote Pilot Training Organization) certification from the DGCA (Directorate General of Civil Aviation) has been granted to DroneAcharya AI, one of the first private players, as of 2022. The business has educated more than 180 drone pilots since March 2022.
It recorded gross sales of Rs 3.09 crore and a net profit of Rs 72.06 lakh for Q1FY23. It intends to produce drones that are completely indigenous and specially designed for use in land and underwater surveying services.
