Listing Details
- Listing Exchange NSE SME
- Listing Date 21-Jul-23
- IPO Price Range ₹ 62 to ₹65
- Listing Price ₹ 107.45
- Listing Change inf%
- Last Traded Price ₹ 129.45
- Current Change inf%
Drone Destination IPO Details
- Open Date 07-Jul-23
- Close Date 13-Jul-23
- Lot Size 2000
- IPO Size ₹ 44.20 Cr
- IPO Price Range ₹ 62 to ₹65
- Min Investment ₹ 124000
- Listing Exchange NSE SME
- Basis of Allotment 18-Jul-23
- Refunds 19-Jul-23
- Credit to Demat Account 20-Jul-23
- Listing Date 21-Jul-23
Drone Destination IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 07-Jul-23 | 5.54 | 3.67 | 13.58 | 9.16 |
| 10-Jul-23 | 5.61 | 18.64 | 53.09 | 32.13 |
| 11-Jul-23 | 6.26 | 37.32 | 102.70 | 61.11 |
| 12-Jul-23 | 9.77 | 68.89 | 161.37 | 98.20 |
| 13-Jul-23 | 50.46 | 243.84 | 250.03 | 191.62 |
Drone Destination IPO Synopsis
Drone Destination Limited is India's leading Drone as a Service and Training Company its IPO opens on 7th July and closes on 11th July.
The issue consists of a total issue of 6,800,000 shares (aggregating up to ₹44.20 Cr). The price band for the issue is fixed at Rs.62 to Rs.65 per share. The lot size is set for 2000 shares per lot. The shares will be allotted on the 14th of July and the issue will be listed on the 19th July on the stock exchanges.
The book-running lead manager to the offer is Narnolia Financial Services Ltd.
Objectives of the Issue
The Company proposes to utilize the funds towards funding the following objects:
1. To meet the expenses for the purchase of new drones.
2. To meet the expenses for the purchase of the vehicle.
3. To meet the Capital Expenditure Requirement.
4. To meet the Working Capital requirements.
5. To meet the General Corporate Purposes.
6. To meet out the Issue Expenses.
About Drone Destination
About the Company
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 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.
Peer Comparison
• Droneacharya Aerial Innovations Limited
For More Information:
Webstory on Drone Destination IPO
Drone Destination Financial Status
Profit and Loss
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue | 1207.22 | 256.46 | 39.18 |
| EBITDA | 470.25 | 39.96 | -2.39 |
| PAT | 244.19 | 20.73 | -4.56 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Total Assets | 2359.33 | 278.30 | 96.34 |
| Share Capital | 500 | 11 | 11 |
| Total Borrowings | 159.17 | 151.09 | 9794.46 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 83.04 | -7.55 | -13.01 |
| Net cash from / (used in) investing activities | -584.27 | -55.86 | -25.90 |
| Net cash flow from / (used in) financing activities | 1489.25 | 95.03 | 39.70 |
| Net increase (decrease) in cash and cash equivalents | 988.01 | 31.62 | 0.78 |
Drone Destination IPO Key Points
-
Strengths
1. Largest Drone Training Network in India along with Training Partner IGRUA, and the highest market share in DGCA-certified Drone Pilot Training.
2. The company has entered into several key MOUs with large Government entities and Private Players to develop an integrated Drone training, education, and service eco-system
3. The company has a fleet of Owned assets including drones and their parts, base stations, and service delivery vehicles along with certified drone pilots.
4. Drone Destination is supported exclusively by Hubblefly Technologies, a DGCA-authorised Drone Manufacturing company with a current capacity to manufacture 3000+ drones annually
-
Risks
1. The Company’s training business, (training through drones) is highly regulated and subject to change, it has a DGCA license subject to certain conditions. If it fails to comply with the applicable regulations, and rules prescribed by the Government of India as well as the condition on which the DGCA license has been issued, its business, and financial condition may have a material adverse effect.
2. 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 the anticipated level of growth.
3. The company is highly dependent on its group company and other drone manufacturing companies for meeting its drone demands. It will not be able to acquire desired drones if the group company delays in manufacturing and delivery of the drones.
How to apply for IPO?
-
Login to your 5paisa account and select the issue in the
current IPO section -
Enter the number of lots and price at which you wish to
apply for -
Enter your UPI ID and click on submit. With this, your
bid will be placed with the exchange -
You will receive a mandate notification to block funds in
your UPI app -
Approve the mandate request on your UPI and funds
will be blocked
Open account in 5 minutes
Be a part of the 5paisa community now with 10 million mobile app downloads
Please keep below documents handy:
- PAN Card
- Aadhar Card
- Bank Account Number
Drone Destination IPO FAQs
What is the minimum lot size required for the Drone Destination IPO?
The minimum lot size required for the Drone Destination IPO is 2000 shares.
What is the price band of the IPO?
The price band of the IPO is Rs. 62 to Rs. 65 per share.
When does the Drone Destination IPO opens and closes?
The Drone Destination IPO opens on July 7, 2023 and closes on July 11, 2023
What is the size of the Drone Destination IPO issue?
The Drone Destination IPO comprises a total issue of 6,800,000 shares (aggregating up to ₹44.20 Cr)
What is the allotment date of Drone Destination IPO?
The allotment date of Drone Destination IPO is 14th July 2023.
What is the Drone Destination IPO listing date?
The Drone Destination IPO listing date is 19th July 2023.
Who are the book runners for Drone Destination IPO?
The book runners for Drone Destination IPO is Narnolia Financial Services Ltd.
What is the objective of the Drone Destination IPO?
The Company proposes to utilize the funds towards funding the following objects:
1. To meet the expenses for the purchase of new drones.
2. To meet the expenses for the purchase of the vehicle.
3. To meet the Capital Expenditure Requirement.
4. To meet the Working Capital requirements.
5. To meet the General Corporate Purposes.
6. To meet out the Issue Expenses.
How to apply for the Drone Destination IPO?
To apply for the IPO, follow the steps given below
• Login to your 5paisa account and select the issue in the current IPO section
• Enter the number of lots and price at which you wish to apply for
• Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange
• You will receive a mandate notification to block funds in your UPI app
Contact Details of Drone Destination IPO
Contact Information
Drone Destination Limited
C-13, Ground Floor,
Panchsheel Enclave,
Delhi - 110017
Phone: 011-41050607
Email: cosec@thedronedestination.com
Website: http://www.thedronedestination.com/
Drone Destination IPO Register
Maashitla Securities Private Limited
Phone: +91-11-45121795-96
Email: ipo@maashitla.com
Website: https://www.maashitla.com/
Drone Destination IPO Lead Manager
Narnolia Financial Services Ltd