Droneacharya Aerial Innovations IPO will finalise its share allotment status today. Investors who have bid for the SME IPO can check allotment status online at the BSE website or at the website of the official registrar Bigshare Services Private Limited.
The IPO of Droneacharya Aerial Innovations, which was open open for subscription between December 13-15, comprised of a fresh issue of 62.9 lakh equity shares, and was subscribed 177 times.
The price band for the IPO was fixed at Rs 52-54 a share. The company received demand for shares worth over Rs 6,000 crore against an issue size of Rs 34 crore.
Proceeds of the IPO will be used for the purchase of drones and other accessories and for general corporate purpose.
Among key investors in the company include market veteran Shankar Sharma, ITC e-Chaupal, M Srinivas Rao, who was earlier associated with the Bill & Melinda Gates Foundation, India among others.
After the finalisation of basis of allotment, the refunds will be initiated December 21 for investors who did not get the allotment, while shares will be credited to the demat accounts of successful bidders on December 22.
The shares of the company will get listed on the BSE’s SME platform on December 23.
On December 12, the company had raised Rs 9.66 crore from anchor investors. It allotted 17.9 lakh equity shares to these investors at Rs 54 per piece.
The Maharashtra-based Droneacharya Aerial Innovations is a full-fledged innovative solution based company. It is involved in multiple aspects of drones, Drone-as-a Service (DaaS) and Geographic Information System (GIS) .
