Droneacharya Aerial shares hit upper circuit after listing at 90% premium

After opening at ₹102 apiece on BSE SME exchange, Droneacharya Aerial Innovations share price went on to hit intraday high of ₹107.10 apiece, hitting 5 per cent upper circuit, whereas it made intraday low of ₹96.90 apiece. Currently, Droneacharya Aerial Innovations shares are quoting at ₹107.10 apiece levels. 

In three days bidding from 13th to 15th December 2022, Droneacharya Aerial Innovations IPO received strong response from investors. The public issue was subscribed 243.70 times whereas its retail portion was subscribed 330.82 times. The SME IPO was subscribed 46.21 times in QIB category while it was subscribed 287.80 times in NII category.

Multibagger IPO

The SME stock is on way to emerge a multibagger IPO on its listing day itself as the public issue was launched at ₹52-54 per equity share.  So, an allottee of retail category can have a sigh of relief as their investment of ₹1.08 has almost doubled on very first day of Droneacharya Aerial Innovation share trade.

Advising allottees to book partial profit, Avinash Gorakshkar, Head of Research at Profitmart Securities said, “Allottees are advised to book 50 per cent profit and fish out their investment amount. As it is an SME stock and one can’t book partial profit in it, an allottee can sold out one’s entire shareholding and once it settles down after next few sessions, they can re-enter with whatever amount they want to invest in the scrip.”

Avinash Gorakshkar said that Droneacharya Aerial Innovations stock belongs to the defense sector and it’s a drone solution company which is expected to get benefit of contactless sales that government of India is mulling to implement in online retail platforms.

Today, two more IPOs of main board got listed in special pre-open session and those two IPOs are Landmark Cars and Aban Holdings.  Landmark Cars had a tepid debut as the share listed at discount while Aban Holdings made a flat but positive debut on Dalal Street.

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