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Drone Destination IPO GMP, Review, Price, Allotment

Drone Destination IPO GMP, Review, Price, Allotment

Drone Destination, incorporated in 2019, is a prominent player in the drone industry. It operates the largest network of DGCA-certified Drone Pilot Training Programs in the country. Recently, the company achieved a significant milestone by becoming the first flying organization to train 1,000 drone pilots. This achievement was made possible through collaborations with training partners such as Indira Gandhi Rashtriya Uran Akademi and Sanskardham, under the aegis of the Ministry of Civil Aviation.

Introduction

Drone Destination has established itself as a leading provider of drone services and solutions. With its expertise in training drone pilots and a wide range of drone-powered services, the company is poised for growth and expansion.

Drone Hubs Expansion Plans

Drone Destination currently operates nine strategically located “Drone Hubs” across various cities in India. These hubs offer a range of services, including drone rentals with certified pilots, drone enterprise solutions, repair and maintenance support, and specialized training. The company has ambitious plans to open over 150 Drone Hubs in the next three years, expanding its reach and strengthening its market presence.

Drone-Powered Service Projects

Apart from its training programs and drone hubs, Drone Destination aims to undertake several drone-powered service projects. These projects include asset inspection across railways, roadways, power, and utility sectors, as well as estimating and monitoring mining resources. The company also plans to provide agri spray and precision agriculture services for crop-yield management and health assessment. Furthermore, Drone Destination intends to engage in surveillance projects to address disaster management and other critical applications.

Drone Destination IPO Details

Drone Destination is planning to go public through an initial public offering (IPO). Here are the key details of the IPO:

  • IPO Dates: 7th to 11th July 2023
  • Offer Price: INR 62 – 65 per share
  • Fresh Issue: 68,00,000 shares (INR 42.16 – 44.20 crores)
  • Offer For Sale: NIL
  • Total IPO Size: 68,00,000 shares (INR 42.16 – 44.20 crores)
  • Minimum Bid (Lot Size): 2,000 shares (INR 130,000)
  • Face Value: INR 10 per share
  • Retail Allocation: 35%
  • Listing On: NSE SME

Financial Performance

Let’s take a look at Drone Destination’s financial performance over the years:

FY 2021 FY 2022 FY 2023
Revenue 39.18 256.46 1,207.22
Expenses 45.48 229.40 877.60
Net income (4.56) 20.73 244.19

Figures in INR Lakhs unless specified otherwise

Valuations & Margins

The following table showcases Drone Destination’s valuations and margins:

FY 2021 FY 2022 FY 2023
EPS (0.03) 0.12 1.40
PE ratio 44.29 – 46.43
RONW (%) (188.49) 89.55 13.90
ROCE (%) (10.86) 17.09 18.65

IPO Dates & Listing Performance

Here is the timeline for the Drone Destination IPO and its listing performance:

  • IPO Opening Date: 7th July 2023
  • IPO Closing Date: 11th July 2023
  • Finalization of Basis of Allotment: 14th July 2023
  • Initiation of Refunds: 17th July 2023
  • Transfer of Shares to Demat Accounts: 18th July 2023
  • IPO Listing Date: 19th July 2023
  • Opening Price on NSE SME: Coming soon
  • Closing Price on NSE SME: Coming soon
  • EBITDA (%): (6.09), 15.54, 38.94
  • Debt/Equity: 21.85, 6.42, 0.06

Conclusion

Drone Destination’s IPO presents an opportunity for investors to participate in the growth of the drone industry in India. With its extensive network of certified drone pilots, expansion plans for drone hubs, and diverse drone-powered service projects, the company is well-positioned to capitalize on the increasing demand for drone-related services. Investors should carefully evaluate the IPO details and consider the financial performance and valuations of the company before making investment decisions.

FAQs

The Grey Market Premium is dynamic and can change frequently, influenced by market conditions and investor sentiment. It is advisable to stay updated with the latest figures through reliable sources.

Grey Market trading is conducted through a network of dealers, and participation is limited to select individuals or entities. It is an unofficial market and not regulated like the stock exchange.

No, investors should consider the Grey Market Premium as one of several factors when making investment decisions. Thorough research, analysis of company fundamentals, and expert advice are equally important.

Kostak rates represent the price at which investors can sell their IPO application before listing. It provides an opportunity for early exits. Investors should evaluate both GMP and Kostak rates to make informed decisions.

The information provided in this article is for informational purposes only and should not be construed as investment advice. Investors are advised to conduct their own research and consult with financial professionals before making any investment decisions.

IPO Sharma

where we specialize in demystifying IPOs and the stock market. With extensive experience in finance, I offer expert analyses and strategic insights to help you make informed investment decisions. Our content focuses on clarity, accuracy, and empowering you to achieve your financial goals. Please note: I am not a SEBI-registered advisor. The information and analyses provided on IPOsharma are for educational purposes only and should not be construed as investment advice.

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