India has upgraded with brand-new drone technology with a Pune-based startup ‘DroneAcharya Aerial Innovations’. We are going to see DroneAcharya Aerial Innovations a Pune-based drone start-up going to offer the shares for a public subscription set to begin on 13th December. The company just looking to generate more than Rs. 34 crores via a fresh issue with shares via Initial Public Offering (IPO).
DroneAcharya Aerial Innovations will go IPO on December 13th – Everything You Need to Know
The start-up drone company DroneAcharya AI has provided such a high-end ecosystem with drone solutions for several sensors on drone surveys, data processing of drone surveys using robust gift configuration workstations, drone pilot training, and specialized GIS training. The drone is going to open for subscription on 13th December. The three-day initial share sale going to end on 15th December 2022.
The SME IPO having a lot size of the company has 2,000 shares with a retail individual investor going to apply up to 1 lot up to Rs. 1.08 lakh. The SME IPO going to offer 62.90 lakh shares with the book-building process in the price band of Rs. 52-54 for each share. The startup also has mentioned the total shared of 8.98 lakh shares set to be reserved for the HNI category 11.94 lakh shares with the QIB quota, now 20.92 lakh shares going to be offered for the retail investors.
The company has been authorized via the Directorate General of Civil Aviation (DGCA) along with the Remote Pilot training Organization set to conduct drone training. Since March 2022, the company has trained more than 180 drone pilots. The total proceeds have been boosted by the startup going to be utilized going to buy and manufacture drones, sensors, and processing infrastructure. The company has planned to open 12 latest training centers within March 2023.
We are going to get several concise and industry-relevant Drone and GIS courses, The main targets are generated quality products and services along with several domains with agriculture, defence, energy, mining, infrastructure, oil and gas, smart cities, and urban planning with water resources.
DroneAcharya has made as much as $4.6 million with the pre-seed funding across that has closed this May. The company has a total workforce of 40 employees along with several departments. More than 71.56% of the drone companies’ revenues getting derived from clients in Maharashtra.
It has informed investors with the draft prospectus like it has been unable for getting attract new students for the pilot training programme with adverse effects on growth and cash flows. With several risks, interest rate fluctuation may also affect adversely the company’s business.
The company in the draft prospectus, “The company may enter into certain borrowing arrangements to finance its capital requirements in the ordinary course of business for general working capital purposes. In the event interest rates increase, the company’s costs of borrowing will increase, the company’s costs of borrowing will increase, and its profitability and results of operations may affect adversely.
The DroneAcharya AI IPO cost band has been set in between Rs. 52-54 a share. The offer is set to close on 15th December. The company shares have been listed on the BSE SME exchange.
The company shares recently commanded a grey market premium or the GMP with Rs. 25 in each share. GMP is mainly the premium at which IPO has shared the traded for an unofficial market just before they have listed on the stock exchanges.
The company was set up in 2017 and started to generate revenues in FY212 with Rs. 1 lakh which grew up to Rs. 358 lakhs in FY22. In FY22, the total income is Rs. 358.73. The profit after the tax is Rs. 40.65 lakh. In FY21 total income is Rs. 1 lakh, and loss after tax is Rs. 14.89 lakh. In FY20 the loss after tax is Rs. 2.30 lakh.