SME IPO: Drone Destination issue to open on July 7. 10 things to know about the offer

economictimes.indiatimes.com:

1) Company OverviewDrone Destination is a DGCA-authorized Remote Pilot Training Organisation (RPTO) offering certified training programs. The company has three training bases of its own at Gurugram, Chandigarh, and Phulpur.2) Industry OverviewThe government is actively promoting the growth of this industry by introducing policies and initiatives to encourage innovation and entrepreneurship in this field.

The civil aviation ministry estimates that the Indian drone market will reach an estimated turnover of Rs 120-150 billion by 2026.3) Issue sizeThe IPO is entirely a fresh equity issue of up to 68 lakh equity shares of face value of Rs 10 each.4) Price bandThe company will offer its shares at a price band of Rs 62-65 apiece, and investors can bid for 2,000 shares in 1 lot.5) Financial performanceFor the year ending March 2023, the company has recorded revenues of Rs 12.07 crore and net profit of Rs 2.44 crore.6) Objects of the offerThe net proceeds from the public offer will be used for the purchase of new drones, capital expenditure, and other general corporate purposes.7) Booking running lead managersNarnolia Financial Services is acting as the lead manager for the issue, while Maashtila Securities is the registrar.8) Issue structureAbout 50% of the offer is reserved for qualified institutional buyers, 15% for non-institutional investors, and the rest 35% for retail investors.9) Important datesThe IPO opens on July 7 and closes on July 11. The final allotment will be made on July 14.