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Let’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

Drone Destination IPOTheir 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:


    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.[●]
    Net Issue to the Public Up to [●] Equity Shares aggregating up to Rs.[●]
    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:

    1. To meet the expenses for the purchase of new drones.
    2. To meet the expenses for the purchase of a vehicle.
    3. To meet the Capital Expenditure Requirement.
    4. To meet the Working Capital requirements.
    5. To meet General Corporate Purposes; and
    6. 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
    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
    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). 

      Calculate your return on investment!

      Asset Class ROI (Rs.) Profit (Rs.) Profit (%)
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