Arihant Academy IPO vs Droneacharya Aerial IPO

Comparison between Arihant Academy IPO and Droneacharya Aerial IPO.

IPO Details

Arihant Academy IPO is a SME Bookbuilding IPO proposed to list at NSE SME while Droneacharya Aerial IPO is a SME Bookbuilding proposed to list at BSE SME.

	Arihant Academy IPO	Droneacharya Aerial IPO
Logo
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Fixed Price	Bookbuilding
Listing At	NSE SME	BSE SME
Lead Managers	Shreni Shares Ltd.	Corporate Capitalventures Pvt.Ltd.
Registrar	Bigshare Services Pvt.Ltd.	Bigshare Services Pvt.Ltd.
Market Maker	Shreni Shares Ltd.	R.K.Stock Holding Pvt.Ltd.
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor		Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of Arihant Academy IPO is up to ₹13.97 Cr whereas the issue size of the Droneacharya Aerial IPO is up to ₹32.26 Cr. The final issue price of Arihant Academy IPO is ₹90.00 per share and of Droneacharya Aerial IPO is ₹54.00 per share.

	Arihant Academy IPO	Droneacharya Aerial IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)		₹52.00 per share
Issue Price (Upper)		₹54.00 per share
Issue Price (Final)	₹90.00 per share	₹54.00 per share
Discount (Retail)	₹0.00 per share	₹0.00 per share
Discount (Employee)
Market Lot Size	1600 shares	2000 shares
Fresh Issue Size	15,52,000 shares	59,74,000 shares
Fresh Issue Size (Amount)	up to ₹13.97 Cr	up to ₹32.26 Cr
OFS Issue Size	0 shares	0 shares
OFS Issue Size (Amount)	up to ₹0.00 Cr	up to ₹0.00 Cr
Issue Size Total	15,52,000 shares	59,74,000 shares
Issue Size Total (Amount)	up to ₹13.97 Cr	up to ₹32.26 Cr

IPO Timetable

Arihant Academy IPO opens on Dec 16, 2022, while Droneacharya Aerial IPO opens on Dec 13, 2022. The closing date of Arihant Academy IPO and Droneacharya Aerial IPO is Dec 21, 2022, and Dec 15, 2022, respectively.

	Arihant Academy IPO	Droneacharya Aerial IPO
Anchor Bid Date		Dec 12, 2022
Issue Open	Dec 16, 2022	Dec 13, 2022
Issue Close	Dec 21, 2022	Dec 15, 2022
Basis Of Allotment (Tentative)	Dec 26, 2022	Dec 20, 2022
Initiation of Refunds (Tentative)	Dec 27, 2022	Dec 21, 2022
Credit of Share (Tentative)	Dec 28, 2022	Dec 22, 2022
Listing date (Tentative)	Dec 29, 2022	Dec 23, 2022
Anchor Lockin End date 1		Jan 19, 2023
Anchor Lockin End date 2		Mar 20, 2023

Financials & KPIs

Arihant Academy IPO P/E ratio is 19.11, as compared to Droneacharya Aerial IPO P/E ratio of 45.

Arihant Academy IPO

Droneacharya Aerial IPO

Financials

Arihant Academy Limited Financial Information (Restated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Reserves and Surplus	Total Borrowing
31-Mar-20	814.3	1921.12	42.09	177.17	177.17	89.38
31-Mar-21	829.09	1409.77	112.56	289.73	289.73	48.98
31-Mar-22	1104.26	1531.97	201.86	491.59	491.59	127.6
Amount in ₹ Lakhs

Droneacharya Aerial Innovations Limited Financial Information (Restated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Total Borrowing
31-Mar-20	2.51	0	-2.3	0.91	0.82
31-Mar-21	119.13	1	-14.89	104.08	1.27
31-Mar-22	1546.52	358.74	40.65	1447.77	46.25
30-Jun-22	3402.62	308.96	72.06	3357.77	1.02
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

100.00

38.23

Promoter Shareholding (Post-Issue)

73.00

28.21

P/E Ratio

19.11

Market Cap

₹54.50 Cr.

₹129.54 Cr.

ROE

ROCE

Debt/Equity

EPS

RoNW

Shares Offered

In the Arihant Academy IPO Retail Individual Investors (RII) are offered 7,76,000 shares while in Droneacharya Aerial IPO retail investors are offered 7,76,000 shares. Qualified Institutional Buyers (QIB) are offered in Arihant Academy IPO and 11,94,000 shares in Droneacharya Aerial IPO.

	Arihant Academy IPO	Droneacharya Aerial IPO
Anchor Investor Reserveration		17,90,000 shares
Market Maker Reserveration	83,200 shares	3,16,000 shares
QIB		11,94,000 shares
NII	7,76,000 shares	8,98,000 shares
RII	7,76,000 shares	20,92,000 shares
Employee
Others
Total	15,52,000 shares	59,74,000 shares

Bids Received (Subscription)

Arihant Academy IPO subscribed 235.87x in total, whereas Droneacharya Aerial IPO subscribed 243.70x.

	Arihant Academy IPO	Droneacharya Aerial IPO
QIB (times)		46.21x
NII (times)	242.89x	287.80x
Big NII (times)
Small NII (times)
RII (times)	228.85x	330.82x
Employee (times)
Other (times)
Total (times)	235.87x	243.70x

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