Drone Destination Limited IPO Detail
Incorporated in 2019, Drone Destination Limited is India's leading Drone as a Service and Training Company. The entity is a DGCA-authorized Remote Pilot Training Organisation (RPTO) offering Certified training programs at multiple locations pan-India.
The company became the first Drone Training Partner of the National Skill Development Corporation (NSDC) in Oct 2022. They have the largest Training network in India in their segment. Drone Destination Limited offers a variety of services including:
- Drone-As-A-Service (DAAS) Training
- Education & Recreation
- Rent a Drone Agriculture Services
Drone Destination has key partnerships with IGRUA, IFFCO, IIT Patna, NSDC, Neo-Geo, and Matrix-Geo. They have More than 80 Clients from Private as well as Government Sectors. The company is a Leading SVAMITVA Player engaging in survey and mapping in India and is reputed as the largest in Karnataka and Gujarat.
The drones offered by the company are marketed under the names - Star Guru, Star Edge, Sky Star, Agristar, Agri Mapper, Star Eye, and Laser Star. All these have their distinct features and entail different requirements of the customers.
Company Promoters
Mr. Chirag Sharma and Ms. Shashi Bala are the Promoters of the Company.IPO Details
| IPO Opening Date | Jul 07, 2023 |
| IPO Closing Date | Jul 13, 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹62 - 65 per equity share |
| Market Lot | 2000 Shares |
| Min Order Quantity | 2000 Shares |
| Listing At | NSE SME |
| Issue Size | ₹44.20 Cr |
| Fresh Issue | 6,800,000 shares (aggregating up to ₹[.] Cr) |
| Offer for Sale | - |
| Retail Portion | 32.43% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 9.77x | - | - | 68.87x | 161.24x | 98.13x |
| Day 2 | 50.46x | - | - | 243.85x | 250.09x | 191.65x |
IPO Tentative Timetable
The Drone Destination Limited IPO open date is Jul 07, 2023, and the close date is Jul 13, 2023. The issue may list on Jul 21, 2023.
| IPO Open Date | Jul 07, 2023 |
| IPO Close Date | Jul 13, 2023 |
| Basis of Allotment Date | Jul 18, 2023 |
| Initiation of Refunds | Jul 19, 2023 |
| Credit of Shares to Demat Account | Jul 20, 2023 |
| IPO Listing Date | Jul 21, 2023 |
IPO Lot Size
The Drone Destination Limited IPO market lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹130000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 2000 | ₹130000 |
| Maximum | 1 | 2000 | ₹130000 |
IPO Promoter Holding
| Pre Issue Share Holding | 85.14% |
| Post Issue Share Holding | 62.31% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-22 | 278.30 | 257.16 | 20.73 |
| 31-Mar-23 | 2359.33 | 1207.73 | 244.19 |
Objects of the Issue:
The Company proposes to utilize the funds towards funding the following objects:
- To meet the expenses for the purchase of new drones.
- To meet the expenses for the purchase of the vehicle.
- To meet the Capital Expenditure Requirement.
- To meet the Working Capital requirements.
- To meet the General Corporate Purposes.
- To meet out the Issue Expenses.
Drone Destination Limited IPO Registrar:
Beetal Financial & Computer Services (P) Limited
Drone Destination Limited IPO Lead Manager(s):
Narnolia Financial Services Ltd
Company Contact Information:
Drone Destination Limited
C-13, Ground Floor, Panchsheel Enclave
Delhi
Delhi
