Pune’s deep tech startup Droneacharya Aerial Innovations’ IPO subscribed 262 times.

Founded by Prateek Srivastav; Founder and MD in 2017, pune based Droneacharya Aerial Innovations Limited provides a high-end ecosystem of Drone solutions for multi-sensor Drone surveys, data processing of Drone data using robust high-configuration workstations, Drone pilot training & specialized GIS training, etc.

Initial public offering of Pune’s deep tech startup Droneacharya Aerial Innovations received an overwhelming response from the investors and the issue was oversubscribed 262 times; the startup received bids for 109.61 worth  INR 6,016.78 Cr against the public issue worth ₹33.97 crore. The issue was priced at ₹52 to ₹54 per share for a lot size of minimum of 2000 shares.

Startup’s IPO witnessed strong demand from the high net-worth individuals (HNIs) and retail investors. While HNI category was subscribed 388 times at 34.90 Cr shares against 8.98 Lakh shares on offer; qualified institutional buyers (QIBs) subscribed 5.51 Cr shares(46 times) and retail Retail portion of the IPO got subscribed 330.82 times in three days bidding from 13th to 15th December 2022. The issue was fully subscribed within one hour of opening.

Founded by Prateek Srivastav; Founder and MD in 2017, pune based Droneacharya Aerial Innovations Limited provides a high-end ecosystem of Drone solutions for multi-sensor Drone surveys, data processing of Drone data using robust high configuration workstations, Drone pilot training & specialized GIS training, etc.

The allotment date for Droneacharya Aerial Innovations IPO is most likely on 20th December 2022 listing date is expected on 23rd December 2022. The startups intends to utilize the proceeds of the IPO for the Purchase of Drone; other accessories and General Corporate Expenses.

Meanwhile, the grey market is highly bullish on this SME IPO after the strong response from the IPO investors. Despite weak sentiments on Dalal Street, the GMP of the Droneacharya Aerial Innovations IPO has increased further after the closure of subscription. According to market observers, shares of startups are available at a premium of ₹72 in grey market today.