Droneacharya Aerial Innovations stock hit a high of Rs 107.10 post listing, almost doubling investor’s wealth on debut.
Last heard, the company was exchanging hands at a premium of Rs 50-55 apiece compared to its issue price of Rs 54, signalling a listing pop of about 100%. Its premium stood at Rs 75 at its peak.
The SME player raised Rs 33.97 crore via its initial stake sale between December 13-15, selling its shares in the range of Rs 52-54 in a lot size of 2,000 shares.
The issue was overall subscribed 243.7 times, with the retail book getting 330.82 times bids. The HNI portion fetched 287.8 times subscription, whereas the quota for qualified institutions was booked 46.2 times.
Droneacharya Aerial Innovations 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.
Dronacharya’s recent pre-seed funding round closed at a whopping $4.6 million, which is the highest for any drone startup across the country. The company raised funds for the purchase of drones and other accessories and to meet general corporate expenses.
There were not many reports on the issue but those, which were in the public domain, were majorly positive on the issue, suggesting to subscribe to it, citing the government push on the defence and drone sector.
Incorporated in 2017, Droneacharya Aerial Innovations is based in the cultural and IT hub of Pune, Maharashtra.
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