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
- Rent a Drone Agriculture Services
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.
The drones offered by the company are marketed under the names – Star Guru, Star Edge, Sky Star, Agristar, Agri Mapper, Star Eye, and Laser Star. All these have their distinct features and entail different requirements of the customers.
Drone Destination IPO Details
| IPO Date | Jul 7, 2023 to Jul 13, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹62 to ₹65 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 6,800,000 shares (aggregating up to ₹44.20 Cr) |
| Fresh Issue | 6,800,000 shares (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 17,499,998 |
| Share holding post issue | 24,299,998 |
| Market Maker portion | 500,000 shares Nikunj Stock Brokers Share India Securities |
Drone Destination IPO Reservation
| 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%) |
Drone Destination IPO Timetable (Tentative)
Drone Destination IPO opens on Jul 7, 2023, and closes on Jul 13, 2023.
| Event | Tentative Date |
|---|---|
| Opening Date | Friday, 7 July 2023 |
| Closing Date | Thursday, 13 July 2023 |
| Basis of Allotment | Tuesday, 18 July 2023 |
| Initiation of Refunds | Wednesday, 19 July 2023 |
| Credit of Shares to Demat | Thursday, 20 July 2023 |
| Listing Date | Friday, 21 July 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Jul 13, 2023 |
Drone Destination IPO Lot Size
The Drone Destination IPO lot size is 2000 shares.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹130,000 |
| Retail (Max) | 1 | 2000 | ₹130,000 |
| HNI (Min) | 2 | 4,000 | ₹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 Holding | 85.14% |
| Post Issue Share Holding | 62.31% |
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-21 | 96.34 | 39.33 | -4.56 | 2.42 | -8.58 | 9,794.46 |
| 31-Mar-22 | 278.30 | 257.16 | 20.73 | 23.15 | 12.15 | 151.09 |
| 31-Mar-23 | 2,359.33 | 1,207.73 | 244.19 | 1,757.34 | 1,257.34 | 159.17 |
| Amount in ₹ Lakhs |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 64.35 |
| Market Cap (₹ Cr.) | 157.95 |
| ROE | 13.90% |
| ROCE | 18.65% |
| Debt/Equity | 0.06 |
| EPS (Rs) | 25.8 |
Check Drone Destination IPO Peer Comparison here.
Objects of the Issue
The Company proposes to utilize the funds towards funding the following objects:
- To meet the expenses for the purchase of new drones.
- To meet the expenses for the purchase of the vehicle.
- To meet the Capital Expenditure Requirement.
- To meet the Working Capital requirements.
- To meet the General Corporate Purposes.
- To meet out the Issue Expenses.
Drone Destination IPO Review (May apply)
[Dilip Davda] The company operates in a competitive segment with rising players. The sudden boost in its net profits for FY23 raises eyebrows and concerns over sustainability going forward. Based on the super earnings of FY23, the issue appears aggressively priced. Surprised extension of the IPO, two Market Makers and a new merchant banker are the pin-pointers. Well-informed/cash surplus investors may park funds with a long-term perspective. Read detail review…
Drone Destination IPO Subscription Status (Bidding Detail)
The Drone Destination IPO is subscribed 9.16 times on Jul 7, 2023 7:29:00 PM. The public issue subscribed 13.58 times in the retail category, 5.54 times in the QIB category, and 3.67 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 5.54 |
| NII | 3.67 |
| Retail | 13.58 |
| Total | 9.16 |
Total Application : 14,968 (13.58 times)
Drone Destination IPO Prospectus
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Drone Destination IPO Rating
Company 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 Registrar
Maashitla Securities Private Limited
Phone: +91-11-45121795-96
Email: ipo@maashitla.com
Website: https://www.maashitla.com/