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Drone Destination IPO is a book build issue of ₹44.20 crores. The issue is entirely a fresh issue of 0.68 crore shares of ₹44.20 crore.
Drone Destination IPO bidding started from Jul 7, 2023 and ended on Jul 13, 2023. The allotment for Drone Destination IPO was finalized on Jul 18, 2023. The shares got listed on NSE SME on Jul 21, 2023.
Drone Destination IPO price band is set at ₹65.00 per share . The lot size for an application is 2,000. The minimum amount of investment required by an retail is ₹1,24,000 (2000 shares). The minimum lot size investment for HNI is 2 lots (4,000 shares), amounting to ₹2,60,000.
Narnolia Financial Services Ltd. is the book running lead manager and Maashitla Securities Pvt.Ltd. is the registrar of the issue. The market maker of the company areNikunj Stock Brokers Ltd., Share India Securities Ltd..
Refer to Drone Destination IPO RHP for detailed Information.
| IPO Date | July 7, 2023 to July 13, 2023 |
| Listing Date | July 21, 2023 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹62 to ₹65 per share |
| Issue Price Final | ₹65 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 68,00,000 shares (aggregating up to ₹44.20 Cr) |
| Reserved for Market Maker | 5,00,000 shares Nikunj Stock Brokers Ltd. (aggregating up to ₹3.25 Cr) Share India Securities Ltd. |
| Net Offered to Public | 63,00,000 shares (aggregating up to ₹40.95 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,74,99,998 shares |
| Share Holding Post Issue | 2,42,99,998 shares |
Drone Destination IPO offers total 68,00,000 shares. Out of which 31,48,000 (46.29%) allocated to QIB, 12,60,000 (18.53%) allocated to QIB, 9,46,000 (13.91%) allocated to NII, 22,06,000 (32.44%) allocated to RII and 18,88,000 (27.76%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 5,00,000 (7.35%) |
| QIB Shares Offered | 31,48,000 (46.29%) |
| − Anchor Investor Shares Offered | 18,88,000 (27.76%) |
| − QIB (Ex. Anchor) Shares Offered | 12,60,000 (18.53%) |
| NII (HNI) Shares Offered | 9,46,000 (13.91%) |
| Retail Shares Offered | 22,06,000 (32.44%) |
| Total Shares Offered | 68,00,000 (100.00%) |
Drone Destination IPO raises ₹12.27 crore from anchor investors. Drone Destination IPO Anchor bid date is July 6, 2023. Drone Destination IPO Anchor Investors list
| Bid Date | July 6, 2023 |
| Shares Offered | 18,88,000 |
| Anchor Portion Size (In Cr.) | 12.27 |
| Anchor lock-in period end date for 50% shares (30 Days) | August 17, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | October 16, 2023 |
Drone Destination IPO opens on July 7, 2023, and closes on July 13, 2023.
| IPO Open Date | Fri, Jul 7, 2023 |
| IPO Close Date | Thu, Jul 13, 2023 |
| Tentative Allotment | Tue, Jul 18, 2023 |
| Initiation of Refunds | Wed, Jul 19, 2023 |
| Credit of Shares to Demat | Thu, Jul 20, 2023 |
| Tentative Listing Date | Fri, Jul 21, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Jul 13, 2023 |
Investors can bid for a minimum of 2,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,30,000 |
| Retail (Max) | 1 | 2,000 | ₹1,30,000 |
| HNI (Min) | 2 | 4,000 | ₹2,60,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 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.
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-21 | 96.34 | 39.33 | -4.56 | 2.42 | -8.58 | 9,794.46 |
| 31-Mar-22 | 278.30 | 257.16 | 20.73 | 23.15 | 12.15 | 151.09 |
| 31-Mar-23 | 2,359.33 | 1,207.73 | 244.19 | 1,757.34 | 1,257.34 | 159.17 |
| Amount in ₹ Lakhs | ||||||
The market capitalization of Drone Destination IPO is ₹157.95 Cr.
| KPI | Values |
|---|---|
| ROE | 13.90% |
| ROCE | 18.65% |
| Debt/Equity | 0.06 |
| RoNW | 13.90% |
The Company proposes to utilize the funds towards funding the following objects:
[Dilip Davda] The company operates in a competitive segment with rising players. The sudden boost in its net profits for FY23 raises eyebrows and concerns over sustainability going forward. Based on the super earnings of FY23, the issue appears aggressively priced. Surprised extension of the IPO, two Market Makers and a new merchant banker are the pin-pointers. Well-informed/cash surplus investors may park funds with a long-term perspective. Read detail review...
| Listing Date | July 21, 2023 |
| BSE Script Code | |
| NSE Symbol | DRONE |
| ISIN | INE0P7201019 |
| Final Issue Price | ₹65 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹65.00 |
| Open | ₹107.45 |
| Low | ₹102.10 |
| High | ₹107.95 |
| Last Trade | ₹102.10 |
Drone Destination Ltd.
C-13,
Ground Floor,
Panchsheel Enclave,
Delhi, New Delhi, 110017
Phone: 011-41050607
Email: cosec@thedronedestination.com
Website: http://www.thedronedestination.com/
Maashitla Securities Pvt.Ltd.
Phone: +91-11-45121795-96
Email: investor.ipo@maashitla.com
Website: https://maashitla.com/allotment-status/public-issues
Drone Destination IPO is a SME IPO of 68,00,000 equity shares of the face value of ₹10 aggregating up to ₹44.20 Crores. The issue is priced at ₹65 per share. The minimum order quantity is 2000.
The IPO opens on July 7, 2023, and closes on July 13, 2023.
Maashitla Securities Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Drone Destination IPO using UPI as a payment gateway. Zerodha customers can apply in Drone Destination IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Drone Destination IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Drone Destination IPO opens on July 7, 2023 and closes on July 13, 2023.
Drone Destination IPO lot size is 2000, and the minimum amount required for application is ₹1,30,000.
You can apply in Drone Destination IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Drone Destination IPO will be done on Tuesday, July 18, 2023, and the allotted shares will be credited to your demat account by Thursday, July 20, 2023. Check the Drone Destination IPO allotment status.
The Drone Destination IPO listing date is on Friday, July 21, 2023.
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