Drone Destination IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Jul 13, 2023Let’s have a detailed review of the company and analytics of the Drone Destination IPO release date, IPO offer price, subscription, Drone Destination Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 62 to Rs 65 |
| Listing At | NSE, SME |
| Min. Order Quantity | 2000 Shares |
| Listing Date | 21 July 2023 |
| Offer for Sale | Rs Lakh |
| Fresh Issue | Rs Lakh |
| IPO Size | Rs 4,420 Lakh |
| Tick Size | 1 |
Drone Destination IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – Drone Destination Share Price |
Drone Destination IPO – Summary
Their Company was originally incorporated as a private limited company under the Companies Act, 2013 in the name and style of “Drone Destination Private Limited”, on May 10, 2019.
Subsequently, the company was converted into a public limited company and the name of the Company was changed to “Drone Destination Limited” pursuant to a shareholders’ resolution passed at an Extra-Ordinary General Meeting held on April 29, 2023, and a fresh Certificate of Incorporation dated May 04, 2023, was issued by Registrar of Companies, Delhi.
The Promoter of this company is MR. CHIRAG SHARMA AND MS. SHASHI BALA. The lead manager of the issue is NARNOLIA FINANCIAL SERVICES LIMITED, and the Registrar of this issue is MAASHITLA SECURITIES PRIVATE LIMITED.
Drone Destination IPO Date
The opening and closing dates of the Drone Destination IPO are 7 July 2023 and 13 July 2023 respectively.
Drone Destination IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 7th Jul | 5.54x | 3.67x | 13.58x | 9.16x |
| 2nd Day – 10th Jul | 5.61x | 18.64x | 53.09x | 32.13x |
| 3rd Day – 11th Jul | 6.26x | 37.32x | 102.70x | 61.11x |
| 4th Day – 12th Jul | 9.77x | 68.89x | 161.37x | 98.20x |
| 5th Day – 13th Jul | 50.46x | 243.85x | 250.09x | 191.65x |
| Shares Offered or Net Issue | 1,262,000 | 945,000 | 2,205,000 | 6,800,000 |
The shares subscribed by the public will be updated here.
Drone Destination IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Drone Destination Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | 18 July 2023 |
| Refunds Initiation | 19 July 2023 |
| Credit of Shares to Demat Account | 20 July 2023 |
| Share Listing Date | 21 July 2023 |
Drone Destination IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs 62 to Rs 65.
Drone Destination IPO Equity Size
This Initial Public Issue of 6,800,000 Equity Shares of Rs.10 each for cash at a price of Rs 62 to Rs 65 per equity share aggregating to Rs.4,420 Lakh.
Drone Destination IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 6,800,000 Equity Shares of Rs.10/ each.
Issue Size: 6,800,000 Equity Shares of Rs.10 each, aggregating to Rs.4,420 Lakh
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Drone Destination IPO – Live Performance
The listing date of this IPO is 21 July 2023. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Drone Destination Share Price |
Drone Destination IPO Grey Market Premium
The Drone Destination Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X.
Drone Destination IPO – Company Overview
Recently, their company has started their drone services for “Prime Minister Svamitva Yojna” in an MOU-led understanding with several GIS companies.
This programme is the Government of India’s initiative towards the establishment of clear ownership of property in rural inhabited (Abadi) areas, by mapping land parcels using drone technology and providing a ‘Record of Rights’ to village household owners with the issuance of legal ownership cards (Digital Property cards/Title deeds) to the property owners.
The Scheme is implemented with the collaborative efforts of the Ministry of Panchayati Raj, State Revenue Department, State Panchayati Raj Department and Survey of India.
Drone Destination IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Thousands) | |||
| 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Total Assets | 235933.19 | 27829.90 | 9633.93 |
| *Total Revenue | 120773.22 | 25715.79 | 3932.85 |
| Total Expense | 87759.96 | 22940.29 | 4548.39 |
| Profit After Tax | 24419.00 | 2073.20 | (455.95) |
Earnings per Equity Share (in Thousands)
| 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Basic & Diluted | 25.80 | 18.85 | -4.14 |
Further, their PAT for the period ended on March 31, 2023, March 31, 2022, and March 31, 2021, were Rs. 24419.00 Thousands, Rs. 2073.20 Thousands and Rs. (455.95) Thousands respectively.
Drone Destination IPO – Promoters
The Promoter of this company is:
- MR. CHIRAG SHARMA
- MS. SHASHI BALA
List of Related Parties (Key Managerial Personnel)
- Chirag Sharma, Managing Director
- Shashi Bala, Director
- Raminder Kumar Verma, Non-Independent director
- Satendra Singh, Independent director
- Rajiv Ahuja, Independent director
Drone Destination IPO – Promoters Holding
- Pre-Issue Share Holding – 85.14%
- Post-Issue Share Holding – 62.31%
Drone Destination IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 6,800,000 Equity Shares aggregating up to Rs.4,420 Lakh |
| of which: | |
| Issue Reserved for the Market Makers | Up to [●] Equity Shares aggregating up to Rs.[●] Lakh |
| Net Issue to the Public | Up to [●] Equity Shares aggregating up to Rs.[●] Lakh |
| Of which: | |
| Retail Investors Portion | Not less than [●] Equity Shares |
| Other than Retail Individual Investors | Not more than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | X Equity Shares |
| Equity Shares outstanding after the Issue | X Equity Shares |
Drone Destination IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
- To meet the expenses for the purchase of new drones.
- To meet the expenses for the purchase of a vehicle.
- To meet the Capital Expenditure Requirement.
- To meet the Working Capital requirements.
- To meet General Corporate Purposes; and
- To meet out the Issue Expenses.
Drone Destination IPO – Business Strategy
- Build the largest network of Drone Hubs pan-India, offering a multitude of drones, services, training and after-sales service
- Grow the existing Service Portfolio and introduce new, high-value Drone Services
- Create major awareness campaigns amongst youth and conduct demos and trials amongst users to educate them
Drone Destination IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Integrated Business Model
- Cordial relations with their customers
- Quality Deliverables
- Favourable Government policies
- B2G Business Relations
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-22 | 25.80 | 13.90% | 35.15 |
| 31-Mar-21 | 18.85 | 89.55% | 21.04 |
| Mar-20 | (4.14) | -188.49% | 2.20 |
Drone Destination IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total PAT (Rs. in Thousands) | |
| Drone Destination Limited | 10 | [●] | 25.8 | 13.90% | 24,419.00 |
| Listed Peers | |||||
| Droneacharya Aerial Innovations Limited | 10 | NA | 1.77 | 5.16% | 34,197.00 |
Drone Destination IPO Lead Managers
| Lead Managers |
| NARNOLIA FINANCIAL SERVICES LIMITED Address: 201, 2nd Floor, Marble Arch, 236 B A.J.C Bose Road, Kolkata, West Bengal- 700020, India n Telephone: +91-8130678743; Email: pankaj.passi@narnolia.com Website: www.narnolia.com Contact Person: Mr. Pankaj Pasi SEBI Registration Number: INM000010791 |
Drone Destination IPO Registrar to offer
| Registrar to the Offer |
| MAASHITLA SECURITIES PRIVATE LIMITED Address: 451, Krishna Apra Business Square, Netaji Subhash Place, Pitampura, Delhi – 110034, India Telephone: 011-45121795 Email: ipo@maashitla.com Website: www.maashitla.com Contact Person: Mr. Mukul Agrawal SEBI Registration Number: INR000004370 |
Drone Destination IPO – Other Details
- Statutory Auditor – M/s GAMS & Associates LLP, Chartered Accountants
- Legal Counsel to the Company – ABIZCHANCELLOR Law LLP
- Bankers to the Company – ICICI Bank Limited
Drone Destination IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Drone Destination Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Drone Destination IPO Review FAQs
Check out various FAQs related to Drone Destination IPO:
What is the Issue Size of Drone Destination IPO?
The Company is making an initial public offer of 6,800,000 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of a Drone Destination IPO?
The price band for this particular IPO ranges between Rs 62 to Rs 65. As far as the face value of the share is of concern, it is Rs. 10 per share.
What is the Drone Destination IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on 7 July 2023, while the closing date is set at 13 July 2023.
What is the Drone Destination IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on 18 July 2023, refund initiation is on 19 July 2023, credit of shares is on 20 July 2023, and share listing date is on 21 July 2023.
What is the Drone Destination IPO Listing Date?
Shares of this company shall be listed in the exchanges on 21 July 2023. The date, when the listing would be done, is stagnant on 21 July 2023.
Who is the Registrar of Drone Destination IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. MAASHITLA SECURITIES PRIVATE LIMITED. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Drone Destination IPO?
Here are the promoters of this IPO – MR. CHIRAG SHARMA AND MS. SHASHI BALA. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of a Drone Destination IPO?
They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is Drone Destination IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Drone Destination Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2023 in Thousands is 24419.00, 2022 is 2073.20, and 2021 is (455.95).
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