Drone Destination IPO opens today. GMP, review, lot size, price, other details. Apply or not?

Rate this post

Subscription for Drone Destination the initial public offering (IPO) began today and will remain open until July 13, 2023. The company has indicated that the Drone Destination IPO pricing range is between $62 and $65 per equity share, and the book build issue is proposed for listing on the NSE SME platform. The top drone service provider in India hopes to raise 44.20 crore via its public offering.

About the Company :

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-As-A-Service (DAAS) Training
  • Education & Recreation

Objects of the Issue:

  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.
Drone Destination IPO Details
IPO DateJul 7, 2023 to Jul 13, 2023
Listing Date[.]
Face Value₹10 per share
Price₹62 to ₹65 per share
Lot Size2000 Shares
Total Issue Size6,800,000 shares
(aggregating up to ₹44.20 Cr)
Fresh Issue6,800,000 shares
(aggregating up to ₹[.] Cr)
Issue TypeBook Built Issue IPO
Listing AtNSE SME
Share holding pre issue17,499,998
Share holding post issue24,299,998
Market Maker portion500,000 shares
Nikunj Stock Brokers
Share India Securities

Drone Destination IPO Reservation

Anchor Investor Shares Offered1,888,000 (27.76%)
Market Maker Shares Offered500,000 (7.35%)
QIB Shares Offered1,262,000 (18.56%)
NII (HNI) Shares Offered945,000 (13.90%)
Retail Shares Offered2,205,000 (32.43%)
Total Shares Offered6,800,000 (100%)

Company Financials

Period EndedTotal AssetsTotal RevenueProfit After TaxNet WorthReserves and SurplusTotal Borrowing
Amount in ₹ Lakhs

Key Performance Indicator

P/E (x)64.35
Market Cap (₹ Cr.)157.95
EPS (Rs)25.8

Check Drone Destination IPO Peer Comparison here.

Drone Destination IPO Timetable (Tentative)

Drone Destination IPO opens on Jul 7, 2023, and closes on Jul 13, 2023.

EventTentative Date
Opening DateFriday, 7 July 2023
Closing DateThursday, 13 July 2023
Basis of AllotmentTuesday, 18 July 2023
Initiation of RefundsWednesday, 19 July 2023
Credit of Shares to DematThursday, 20 July 2023
Listing DateFriday, 21 July 2023
Cut-off time for UPI mandate confirmation5 PM on Jul 13, 2023

Drone Destination IPO Lot Size

The Drone Destination IPO lot size is 2000 shares.

Retail (Min)12000₹130,000
Retail (Max)12000₹130,000
HNI (Min)24,000₹260,000
Lot Size Calculator

Drone Destination IPO Promoter Holding

Mr. Chirag Sharma and Ms. Shashi Bala are the Promoters of the Company.

Pre Issue Share Holding85.14%
Post Issue Share Holding62.31%

The following is a list of key Drone Destination IPO information you should review before applying:

1] Drone Destination IPO GMP today: According to market watchers, Drone Destination Ltd. shares are currently trading in the grey market at a premium of 45.

2] Drone Destination IPO price: The price range for the SME issuance is between 62 and 65 rupees per equity share.

3] Drone Destination IPO date: The public offering started accepting bids today and will be available to subscribers until July 13, 2023.

4] The drone service provider SME firm, Drone Destination, hopes to raise 44.20 crore from this initial public offering (IPO).

5] Drone Destination IPO lot size: Bidders may submit their applications in lots, and each lot will contain 2000 company shares.

6] The maximum amount that can be invested in the Drone Destination IPO is 2000 firm shares per lot, hence the minimum amount needed to apply for this NSE SME IPO is 1,30,000 (65 x 2000).

7] Maashitla Securities Private Limited has been designated as the official registrar of the NSE SME IPO for the Drone Destination IPO.

8] Drone Destination IPO listing: A tentative date for the Drone Destination IPO listing is July 21, 2023. The public issue is being proposed for listing on the NSE SME exchange.

9] Review of the Drone Destination Initial Public Offering: Avinash Gorakshkar, Head of Research at Profitmart Securities, gave the Drone Destination IPO the “subscribe” label and noted that “SME IPOs have been generating spectacular returns to the allottees, especially when it relates to the themes working on Dalal Street. I anticipate a high reaction to the IPO because drone and defence are two of the most alluring themes that have benefited both investors and promoters (Droneacharya Aerial IPO, Paras Defence IPO).

Also read :

Multibagger returns by Paper stocks after their net profit increased up to 900% YoY.

Spread the love

1 thought on “Drone Destination IPO opens today. GMP, review, lot size, price, other details. Apply or not?”

Leave a Comment