07 Jul '23 - 13 Jul '23
₹130,000 / 1 Lots ( 2000 Shares)
₹62 - ₹65
₹130,000 / 1 Lots ( 2000 Shares)
Investor category and sub categoryQualified Institutions Buyers | Non-Institutional Buyers | Retail Investors |
Important dates with respect to IPO allotment and listing
IPO Opening Date
Jul 7, 2023
IPO Closing Date
Jul 11, 2023
Basis of Allotment
Jul 14, 2023
Initiation of Refunds
Jul 17, 2023
Credit of Shares to Demat Account
Jul 18, 2023
IPO Listing Date
Jul 19, 2023
UPI Mandatory Expiry Date
Jul 11, 2023
IPO Subscription Details
Day 1Jul 7, 2023
Day 2Jul 10, 2023
Day 3Jul 11, 2023
Day 4Jul 12, 2023
Day 5Jul 13, 2023
IPO Subscription Status Live
|Investor Category||Subscription (Times)|
|Qualified Institutions Buyers||50.46|
About Drone Destination Ltd.
Drone Destination Limited is a Drone as a Service and Training Company headquartered in New Delhi, India that specialises in providing comprehensive drone training programs and services. As a DGCA-authorised Remote Pilot Training Organisation (RPTO), the company offers certified training programs at multiple locations across India, enabling individuals to become skilled and certified remote pilots.
Upon successful completion of the training courses, Drone Destination Limited's RPTO generates a Remote Pilot Certificate (RPC) from the DGCA's Digital Sky Platform. This certificate is issued for a specific class and category of drone and remains valid for a maximum period of 10 years in accordance with the Drone Rules of 2021.
To make training more accessible and affordable for aspiring drone pilots, the company also provides skill loans in collaboration with NSDC's affiliate Non-Banking Financial Companies (NBFCs). This initiative aims to remove financial barriers and empower individuals to pursue their passion for drone piloting.
Drone Destination Limited IPO Details
Drone Destination Limited IPO is a 100% fresh issue comprising 68,00,000 shares. The price band is set between ₹62 to ₹65 per share with a face value of ₹10 per share. The lot size is 2000 shares. It will be listed on NSE SME.
Drone Destination Limited IPO Objectives
The company proposes to use the net proceeds from the issue to meet the following objects:
- Purchase of new drones.
- Purchase of vehicle.
- Capital expenditure.
- Working capital requirements.
- General corporate purposes.
- Issue expenses.
Droneacharya Aerial Innovations Limited is a listed peer operating in the same business line. Considering the nature and turnover of the business of the company the peer is not strictly comparable.
Highlights of Drone Destination Ltd
- It is the largest Drone Training Network in India, along with its Training Partner IGRUA, and the highest market share in DGCA-certified Drone Pilot Training.
- Drone Destination Limited has recently ventured into drone services for "Prime Minister Svamitva Yojna." Under a memorandum of understanding (MOU) with several Geographic Information System (GIS) companies, the company supports the government's initiative to establish clear ownership of property in rural inhabited areas.
- Drone Destination Limited has already deployed 34 drone pilots and co-pilots to conduct village and large-scale mapping across Uttar Pradesh, Gujarat, and Karnataka. The company's drones have covered an impressive number of 4481 villages as of April 30, 2023, contributing to the successful implementation of Prime Minister Svamitva Yojna.
|Financial year||ended March 31st, 2023||ended March 31st, 2022||ended March 31st, 2021 (|
|Revenue from Operations||1,20,722.41||25,646.24||3,917.78|
|Profit After Tax (PAT)||24,419.00||2,073.21||455.95|
Know before investing
Drone Destination is supported exclusively by Hubblefly Technologies, a DGCA-authorised Drone Manufacturing company with a current capacity to manufacture 3000+ drones annually. The drones are available to Drone Destination at the most competitive prices.
The company aims to develop the largest Network of Drone Hubs (150+ locations over the next 05 years) and deliver drone-powered services on rent along with its certified drone force, ensuring the fastest turn-around time and high operational efficiency at affordable costs.
Presently the drone industry is in a nascent stage. If the industry does not experience significant growth, then the company will not be able to achieve its anticipated level of growth.
There are outstanding legal proceedings involving the company as well as its group companies, promoter and Directors. Any adverse outcome of such proceedings may affect Drone Destination’s business, financial condition and reputation.
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Drone Destination Ltd IPO FAQs
The Drone Destination Ltd IPO is a fresh issue of 6,800,000 shares. The issue is priced between ₹62 to ₹65 per share. The IPO will open on Friday, 7 July 2023.
The Basis of Allotment will happen on Friday, 14 July 2023.
The IPO subscription window will open on Friday, 7 July 2023.
Retail investors can apply for a minimum of one lot, which consists of 2000 shares.
Drone Destination Ltd IPO will list on the BSE exchange on Wednesday, 19 July 2023.
Steps to check IPO allotment status on Angel One’s app:
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Listing gains cannot be ascertained before the listing of the IPO on the stock exchange, which is Wednesday, 19 July 2023, for Drone Destination Ltd.
The bank will only block the amount initially in your account. Under the new system, the money isn’t debited until the stocks are allotted to you.
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You can submit only one application using your PAN card.