Shares of Droneacharya Aerial Innovations made a stellar listing on Friday, as the scrip got listed at Rs 102 on BSE, a 88.89 per cent premium over its issue price of Rs 54. With this, the company joined the list of top 2022 SME listings, which is led by Phantom Digital Effects, Agni Green Power, Baheti Recycling Industries, Insolation Energy Concord Control Systems and Virtuoso Optoelectronics.
DroneAcharya Aerial Innovations had generated a strong 262 times subscription to its SME initial public offer and was commanding a grey market premium (GMP) of Rs 50.
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. This IPO saw 330.75 times retail subscription. It received bids for 69.19 crore shares against mere 20.92 lakh shares on offer.
The non-institutional investor category (NII) was subscribed 388.71 times and accounted 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 and represented 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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