Prateek Shrivastava established the firm, which was sponsored by Bollywood superstars Aamir Khan, Ranbir Kapoor, and market veteran Shankar Sharma, and witnessed considerable demand for its IPO from high net-worth people and retail investors.
Droneacharya Aerial Innovations Ltd shares opened at an 88 percent premium on debut after its initial public offering was oversubscribed 262 times with bids totaling Rs 6,017 crore last week.
From its issue price of Rs 54 a share, the shares opened at Rs 102 per unit and reached a high of Rs 107.10 on the BSE. At 10.10 a.m., the stock was trading on the BSE at Rs 107, up 98.33% from its issue price.
The firm, established by Prateek Shrivastava and supported by Bollywood superstars Aamir Khan, Ranbir Kapoor, and industry veteran Shankar Sharma, witnessed tremendous demand for its IPO from HNIs and retail investors.
The Rs 33-crore offering was subscribed to 330.75 times by ordinary investors, 388.71 times by non-institutional investors (NII), and 46.21 times by qualified institutional buyers (QIB).
Droneacharya Aerial Innovations is built largely on the commercial pillars of training, services, and surveillance. It is one of the first private companies to be granted a Remote Pilot Training Organization (RPTO) licence by the Directorate General of Civil Aviation (DGCA). The business has educated over 180 drone pilots since March 2022.
In addition, the business intends to begin producing bespoke 100 percent domestic drones and to provide land and undersea surveying services.
In FY22, the company recorded sales of Rs 3.59 crore, up from Rs 1 lakh the previous year. The period’s net profit was Rs 55.56 lakh, compared to a net loss of Rs 14.89 lakh the previous year.
