Drone Destination IPO: Issue opens on 7 July, here are 10 things to know

livemint.com:

₹44, according to Chittorgarh.com.  At the price band of 65, the estimated listing price for the Drone Destination SME IPO is ₹109 (cap price + today's GMP). Issue availability: The IPO will open on 7 July, 2023 and closes on 11 July, 2023.

Issue size: The IPO is entirely a fresh equity issue of up to 68 lakh equity shares of face value of ₹10 each. The issue is to the tune of ₹44.20 crore. Price band: Drone Destination has set a price band of of ₹62-65 apiece, and investors can bid for 2,000 shares in one lot.

Objective of the issue: The net proceeds from the public offer will be used for the purchase of new drones, capital expenditure, and other general corporate purposes. Issue structure:  About 50 per cent of the offer is reserved for qualified institutional buyers, 15 per cent for non-institutional investors, and the remaining 35 per cent for retail investors. Financial performance: For the year ending March 2023, the company has recorded revenues of ₹12.07 crore and net profit of ₹2.44 crore.

Allotment and listing date: The final allotment will be made on 14 July. The company's shares will likely get listed on 19 July. Listing: The company's shares will get listed on the NSE SME platform.