The Drone Destination Limited IPO started on July 07, 2023, and ended on July 13, 2023. Shares were allocated on July 18, 2023, and refund processes began on July 19, 2023. On July 20, 2023, the shares were credited to investors’ demat accounts. Drone Destination was officially listed on the stock exchange on July 21, 2023.
During the IPO, Drone Destination offered shares at a price range of ₹62 to ₹65 per share, and the lot size was 2000 shares. The total issue size was ₹44.20 crores, with ₹44.20 crores from fresh shares. The IPO was listed on the NSE SME.
Regarding share reservations, 50% of the shares were allocated to Qualified Institutional Buyers (QIB), 15% were reserved for Non-Institutional Investors (NII), and 35% were set aside for retail investors.
Drone Destination IPO Subscription Status Details
The Drone Destination IPO has been subscribed by different categories of investors. The retailers have subscribed to it 250.09 times, while the Non-Institutional Investors (NII) have subscribed 243.85 times. The Qualified Institutional Buyers (QIB) have subscribed 50.46 times.
| Category | Subscription |
| QIB | 50.46x |
| NII | 243.85x |
| Retail | 250.09x |
| Total | 191.65x |
Drone Destination Limited, established in 2019, is a leading company in India that offers Drone as a Service and Training. Authorized by the Directorate General of Civil Aviation (DGCA) as a Remote Pilot Training Organization (RPTO), they provide certified training programs across various locations in India.
In October 2022, Drone Destination Limited became the first Drone Training Partner of the National Skill Development Corporation (NSDC), solidifying their position as the largest training network in India for their industry. Their services encompass:
- Drone-As-A-Service (DAAS) Training
- Education & Recreation
- Rent a Drone Agriculture Services
Drone Destination has forged significant partnerships with IGRUA, IFFCO, IIT Patna, NSDC, Neo-Geo, and Matrix-Geo. With over 80 clients from both private and government sectors, the company holds a prominent role in the SVAMITVA program. They actively participate in surveying and mapping projects across India, particularly in Karnataka and Gujarat, where they are recognized as the leading player.
The company offers a diverse range of drone models, each with its own distinctive features and tailored to meet different customer requirements. Some of their drone names include Star Guru, Star Edge, Sky Star, Agristar, Agri Mapper, Star Eye, and Laser Star.
Drone Destination IPO More Details Click Here
When Drone Destination IPO Subscription will start and end?
The Drone Destination IPO started on July 07, 2023, and ended on July 13, 2023.
When Drone Destination IPO Subscription will start?
The Drone Destination IPO started on July 07, 2023.
When Drone Destination IPO Subscription will end?
The Drone Destination IPO ended on July 13, 2023.
When were the shares credited to investors’ demat accounts for the Drone Destination IPO?
The shares for the Drone Destination IPO were credited to investors’ demat accounts on July 20, 2023.
When was Drone Destination officially listed on the stock exchange?
Drone Destination was officially listed on the stock exchange on July 21, 2023.
What was the price range of the Drone Destination IPO shares?
The Drone Destination IPO shares were offered at a price range of ₹62 to ₹65 per share.
What was the lot size for the Drone Destination IPO shares?
The lot size for the Drone Destination IPO shares was 1600 shares.
What was the total issue size of the Drone Destination IPO?
The total issue size of the Drone Destination IPO was ₹44.20 crores.
How were the shares allocated among different types of investors for the Drone Destination IPO?
50% of the shares were allocated to Qualified Institutional Buyers (QIB), 15% were reserved for Non-Institutional Investors (NII), and 35% were set aside for retail investors.
On which stock exchanges was the Drone Destination IPO listed?
The Drone Destination IPO was listed on the NSE SME.
