Drone Destination IPO will open for subscription from 07 July 2023. the company aims for an issue size of ₹44.20 Cr through this IPO.
Company Overview
| Full name | Drone Destination Limited |
| Sector | Miscellaneous |
| Industry | Miscellaneous |
| Company Website | https://www.thedronedestination.com/ |
About Company
Incorporated in 2019, Drone Destination operates the largest network of DGCA-certified Drone Pilot Training Programs along with its training partners and has recently crossed a key landmark by becoming the first flying organization in the country to train 1,000 drone pilots. This feat has been achieved by Drone Destination along with its partners Indira Gandhi Rashtriya Uran Akademi, the largest FTO in the country under the aegis of the Ministry of Civil Aviation, and Sanskardham.
Drone Destination currently operates nine ‘Drone Hubs’ at Gurugram, Dharamshala, Chandigarh, Gwalior, Ahmedabad, Bangalore, Coimbatore, Madurai, and IFFCO Phulpur. The company plans to open 150+ Drone Hubs, over the next three years. These drone hubs shall offer drones on rent along with certified pilots, drone enterprise solutions, repair and maintenance support, and specialized training.
Drone Destination has currently deployed over 25 drone teams conducting village and large-scale mapping across Uttar Pradesh, Gujarat, and Andhra Pradesh. The company aims to map at least 1 lakh villages under the ‘Prime Minister Svamitva Yojana’ over the next two years.
The company plans to undertake several other drone-powered service projects including asset inspection across railways, roadways, power, and utility sector, estimating and monitoring mining resources, agri spray and precision agriculture services for crop-yield management and health assessment, surveillance projects to address disaster management and many more.
The Objective of the Issue
- To meet the expenses for the purchase of new drones & Vehicles
- To meet the Capital Expenditure Requirement.
- Working Capital requirements.
- General Corporate Purposes.
- For Issue Expenses.
IPO Timetable
| IPO Opening date | 07 July 2023 |
| IPO Closing | 13 July 2023 |
| Basis of Allotment | 18 July 2023 |
| Initiation Refund | 19 July 2023 |
| Credit to Demat Account | 20 July 2023 |
| Listing Date | 21 July 2023 |
IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹44.20 Cr – 6,800,000 shares |
| Fresh Issue | ₹44.20 Cr – 6,800,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹62 to ₹65 per share |
| Lot size | 2000 Shares |
| Listing Exchange | NSE SME |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹130,000 |
| Retail (Max) | 1 | 2000 | ₹130,000 |
| HNI (Min) | 2 | 4,000 | ₹260,000 |
Reservation Details
| Anchor Investor Shares Offered | 1,888,000 (27.76%) |
| Market Maker Shares Offered | 500,000 (7.35%) |
| QIB Shares Offered | 1,262,000 (18.56%) |
| NII (HNI) Shares Offered | 945,000 (13.90%) |
| Retail Shares Offered | 2,205,000 (32.43%) |
| Total Shares Offered | 6,800,000 (100%) |
Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 39.18 | 256.46 | 1,207.22 |
| Expenses | 45.48 | 229.40 | 877.60 |
| Net income | (4.56) | 20.73 | 244.19 |
Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | (0.03) | 0.12 | 1.40 |
| PE ratio | – | – | 44.29 – 46.43 |
| RONW (%) | (188.49) | 89.55 | 13.90 |
| ROCE (%) | (10.86) | 17.09 | 18.65 |
| EBITDA (%) | (6.09) | 15.54 | 38.94 |
| Debt/Equity | 21.85 | 6.42 | 0.06 |
Company Promoters
- Mr. Chirag Sharma
- Ms. Shashi Bala
Promoter Holding
| Pre Issue Share Holding | 85.14% |
| Post Issue Share Holding | 62.31% |
Lead Manager(s)
NARNOLIA FINANCIAL SERVICES LIMITED
201, 2nd Floor, Marble Arch,
236 B A.J.C Bose Road, Kolkata, West Bengal- 700020
Phone: +91- 8130678743
Email: pankaj.passi@narnolia.com
Website: www.narnolia.com
IPO Registrar
MAASHITLA SECURITIES PRIVATE LIMITED
451, Krishna Apra Business Square,
Netaji Subhash Place, Pitampura, Delhi – 110034
Phone: 011-45121795
Email: ipo@maashitla.com
Website: www.maashitla.com
Contact Details
DRONE DESTINATION LIMITED
C-13, Ground Floor,
Panchsheel Enclave, Delhi-110017
Phone: +9141050607
E-mail: cosec@thedronedestination.com
Website: www.thedronedestination.com
Allotment Status
Drone Destination IPO allotment status will be available on the Maashitla Securities website. Click on Maashitla Securities IPO weblink to get allotment status.
Final thoughts
Drone Destination IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
