Droneacharya Aerial Innovations Limited has announced that they have filed Draft Red Herring Prospectus (DRHP) with Bombay Stock Exchange (BSE) for their initial public offering today. The company plans to offer 62.90 lakh Equity Shares of Rs 10/- each through the book building route. The Equity Shares offered through the DRHP are proposed to be listed on BSE’s SME Platform (BSE SME).
According to Business Standard, companies that plan to raise money, for example by floating an IPO from the public by selling their shares to investors, they have to file and submit a Draft Red Herring Prospectus (DRHP), also known as ‘offer document’ or ‘preliminary registration document’, with the market regulator Sebi (Securities and Exchange Board of India).
DRHP, a legal preliminary prospectus, acts as a major communication tool between the company and its investors and stakeholders.
Droneacharya Aerial Innovation is a full-fledged innovative data solution company which provides a complete ecosystem of drone solutions for multi-sensor drone surveys, data processing of drone and robust high-configuration hardware for drone delivery, drone in a box solution for automated survey and surveillance and drone pilot training, along with GIS data processing, Python coding and industry – specific courses.
The proceeds from the proposed offering will be used by the company to purchase drones and other accessories, and other general corporate expenses. Droneacharya Aerial Innovations was incorporated by Mr. Prateek Srivastava in 2017.
Droneacharya Aerial Innovation is DGCA (Directorate General of Civil Aviation) certified RPTO (Remote Pilot Training Organization) company, having their main centre at Pune, Maharashtra. Within a span of only six months of operations, they have been able to train more than 150 drone pilots. It has recently signed an MOU with Rashtriya Raksha University and launched their second RPTO at Gujarat, aiming to upskill the next generation and the students to join the Indian Armed Forces.
For the year ended June 2022, the company has reported total income of Rs 308.96 lakhs and a net profit of Rs 72.06 lakhs.