Droneacharya Aerial IPO: GMP, subscription status, review after day 2 of bidding

Droneacharya Aerial IPO: GMP, subscription status, review after day 2 of bidding


Droneacharya Aerial Innovations IPO: The initial public offer (IPO) of Droneacharya Aerial Innovations Limited opened on 13th December 2022 and it will remain open for bidding till 15th December 2022. It means, today is the last date to apply for the SME IPO, which is proposed for listing on BSE SME exchange. As per the Droneacharya Aerial Innovations IPO subscription status available on BSE, in first two days of bidding, the public issue has been subscribed 86.35 times whereas its retail portion has been subscribed 151.78 times. 

Meanwhile, grey market has gone highly bullish on the SME IPO. According to market observers, shares of Droneacharya Aerial Innovations Limited are available at a premium of 70 in grey market today.

Droneacharya Aerial Innovations IPO GMP today

Market observers said that Droneacharya Aerial Innovations IPO grey market premium (GMP) today is 7, which is 5 higher from its yesterday’s GMP of 65. They said that rise in GMP can be attributed to two basic reasons — strong response by investors and positive sentiments on Dalal Street. 

Observers said that the SME IPO has received strong response at a time when big main board IPOs have received tepid response from the investors. Grey market is taking notice of this change in mindset of the investors as well. They said that a good number of marquee investors including Shankar Sharma have invested in the company in pre-IPO launch. So, the company is expected to remain in focus after listing as well.

What this GMP means?

Market observers said that Droneacharya Aerial Innovations IPO GMP today is 70, which means grey market is expecting that Droneacharya Aerial Innovations IPO listing price would be around 124 ( 54 + 70), around 130 per cent higher from its price band of 52 to 54 apiece. They said that after strong response by investors to this SME IPO, grey market is expecting dream debut for Droneacharya Aerial Innovations shares.

After two days of bidding, Droneacharya Aerial Innovations IPO has been subscribed 86.35 times. It has been subscribed 151.78 times in retail category whereas NII portion of the IPO has been subscribed 55.99 times.

Droneacharya Aerial Innovations IPO review

Giving subscribe tag to this IPO for long term, Manish Khanna, Co-founder at Unlisted Assets said, “The Company is a Directorate General of Civil Aviation (DGCA) authorized Remote Pilot Training Organisation (RPTO) offering training in drone construction, aerial cinematography, data processing, Python for GIS, drones in agriculture, drones for disaster management, and lastly Droneraching. They offer drone surveys, data processing, instruction, and the creation of locally made, customized drones. It has expanded its offerings from a singular upskilling course to a bunch of eight courses that can develop an individual for end-to-end data delivery. The Company aspires to start producing drones that are 100% indigenous and customized. Since March 2022, the company has trained more than 180 drone pilots.”

Droneacharya Aerial Innovations IPO details

The SME IPO is proposed for listing on BSE SME exchange and the tentative date for this IPO listing is 23rd December 2022. However, finalisation of share allocation is expected on 20th December 2022.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

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