Drone Destination Limited will be offering equity shares through a book built issue as part of their upcoming Initial Public Offering (IPO). The IPO is scheduled to take place from July 07 to July 11, 2023. The issue price for each share is set in the range of ₹62 to ₹65. Interested investors can place a minimum order quantity of 2000 shares.
With a face value of Rs. 10, the IPO will include the sale of 6,800,000 shares. This offering has the potential to generate up to ₹44.20 crore in funds for Drone Destination Limited. Let’s learn more about their initial public offering scheduled for July of 2023.
About Drone Destination Limited
Drone Destination Limited, established in 2019, is India’s leading Drone as a Service and Training Company. They hold the distinction of being a DGCA-authorized Remote Pilot Training Organization, providing certified training programs nationwide.
In October 2022, Drone Destination Limited became the first Drone Training Partner of the National Skill Development Corporation (NSDC). Their extensive training network is the largest in India. Their services include DAAS Training, Education & Recreation, and Rent a Drone Agriculture Services. The company has notable partnerships with IGRUA, IFFCO, IIT Patna, NSDC, Neo-Geo, and Matrix-Geo. They serve over 80 clients from the private and government sectors. Drone Destination Limited is recognized as a leading SVAMITVA Player, specializing in survey and mapping, particularly in Karnataka and Gujarat.
Their impressive drone lineup includes Star Guru, Star Edge, Sky Star, Agristar, Agri Mapper, Star Eye, and Laser Star, each designed to meet specific customer requirements.
Drone Destination IPO Issue Details
| Issue Type | Book Built IPO Issue |
| Issue Opens | 07th July 2023 |
| Issue Closes | 11th July 2023 |
| Face Value | Rs 10 Per Share |
| Issue Price | Rs 62 to Rs 65 Per Share |
| Issue Size | 6,800,000 Shares (Rs 44.20 crores) |
| Minimum Order Quantity | 2000 Shares |
| Listing | NSE, SME |
Purpose of the Issue
The Company’s proposed utilization of funds includes:
- To meet the expenses for the acquisition of new drones.
- To meet the expenses for the acquisition of the vehicle.
- To meet the Capital Expenditure Requirement.
- To meet the Working Capital needs.
- To meet the General Corporate Purposes.
- To cover the issue expenses.
Drone Destination Limited — Company Contact Details
- Registered & Corporate Office: C-13, Ground Floor, Panchsheel Enclave, Delhi – 110017
- Telephone: 011-41050607
- Website: http://www.thedronedestination.com/
Drone Destination IPO – Lead Managers of the Issue
Narnolia Financial Services Ltd
- Office Address: Marble Arch, 2nd Floor, Office 201, 236b, A J C Bose Road, Kolkata 700020
- Telephone: 033-40501500
- Email: narnoliacare@narnolia.com
Drone Destination IPO – Registrar of the Issue
Maashitla Securities Private Limited
- Telephone: +91-11-45121795-96
- Email: ipo@maashitla.com
- Website: https://www.maashitla.com/
Drone Destination Limited IPO Issue Prospectus
Click here to read the Final Prospectus of this IPO Issue.
Disclaimer: Investingly just provides basic information as update about the issues. Investingly never gives advices or recommendations to anyone. Investments into securities are subject to market risk. Please read the offer and issue documents carefully before investing. It is also advised to consult your financial advisor for necessary suggestions.
