Issue close but not listed Archives - SME IPO & Main Board https://ipowhisky.com/ipo-resource-tag/issue-close-but-not-listed/ Cheers! to your next 21% Wed, 13 Sep 2023 09:53:00 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.4 https://ipowhisky.com/wp-content/uploads/2023/07/cropped-Site-Icon-512X512-IPO-whisky-32x32.png Issue close but not listed Archives - SME IPO & Main Board https://ipowhisky.com/ipo-resource-tag/issue-close-but-not-listed/ 32 32 Drone Destination Limited IPO https://ipowhisky.com/ipo-resource/drone-destination-limited/ https://ipowhisky.com/ipo-resource/drone-destination-limited/#respond Tue, 18 Jul 2023 13:07:43 +0000 https://ipowhisky.com/?post_type=docs&p=247 Drone Destination Limited, established in 2019, is a prominent Drone as a Service and Training Company in India. It offers certified training programs, remote pilot training, and various drone services. With prestigious partnerships and a wide range of offerings, the company is a leading player in the drone industry. The IPO, held from July 7 to July 13, 2023, at ₹62-65 per share, garnered significant interest with strong subscription.

The post Drone Destination Limited IPO appeared first on SME IPO & Main Board .

]]> Established in 2019, Drone Destination Limited stands at the forefront as India’s premier Drone as a Service and Training Company. Holding the distinction of being a DGCA-authorized Remote Pilot Training Organisation (RPTO), the company extends Certified training programs across multiple locations nationwide.

A significant milestone for Drone Destination Limited was becoming the inaugural Drone Training Partner of the esteemed National Skill Development Corporation (NSDC) in October 2022. With an expansive Training network, the company leads the industry in India.

The company’s diverse range of services includes Drone-As-A-Service (DAAS) Training, Education & Recreation, and Rent a Drone Agriculture Services.

Drone Destination Limited enjoys pivotal partnerships with renowned entities such as IGRUA, IFFCO, IIT Patna, NSDC, Neo-Geo, and Matrix-Geo. With over 80 clients hailing from Private and Government Sectors, the company is recognized as a Leading SVAMITVA Player, actively involved in survey and mapping operations throughout India. Notably, they hold the distinction of being the largest player in Karnataka and Gujarat.

Under the brand names – Star Guru, Star Edge, Sky Star, Agristar, Agri Mapper, Star Eye, and Laser Star – Drone Destination Limited offers an array of high-quality drones, each equipped with distinct features to cater to the diverse requirements of their customers.

As a trailblazer in the Drone industry, Drone Destination Limited continues to soar to new heights, leveraging cutting-edge technology and comprehensive training programs to make its mark in the Indian drone landscape. Their commitment to excellence and strong industry partnerships positions them as the go-to destination for all drone-related services and training needs.

Drone Destination Limited Stock Quote

  • Open: ₹127.80
  • High – Low: ₹131.95 – ₹125.10
  • Previous Close: ₹124.55
  • Total Traded Value: 3,68,000
  • Updated On: Aug 22, 2023 4:00 PM

IPO Details

IPO Date Jul 7, 2023 to Jul 13, 2023
Listing Date Jul 21, 2023
Face Value ₹10 per share
Price ₹62 to ₹65 per share
Lot Size 2000 Shares
Total Issue Size 6,800,000 shares
(aggregating up to ₹44.20 Cr)
Fresh Issue 6,800,000 shares
(aggregating up to ₹[.] Cr)
Issue Type Book Built Issue IPO
Listing At NSE SME
Share holding pre issue 17,499,998
Share holding post issue 24,299,998
Market Maker portion 500,000 shares
Nikunj Stock Brokers
Share India Securities

IPO Reservation

Anchor Investor Shares Offered 1,888,000 (27.76%)
Market Maker Shares Offered 500,000 (7.35%)
QIB Shares Offered 1,262,000 (18.56%)
NII (HNI) Shares Offered 945,000 (13.90%)
Retail Shares Offered 2,205,000 (32.43%)
Total Shares Offered 6,800,000 (100%)

Drone Destination IPO Timetable (Tentative)

Drone Destination IPO opens on Jul 7, 2023, and closes on Jul 13, 2023.

Event Tentative Date
Opening Date Friday, 7 July 2023
Closing Date Thursday, 13 July 2023
Basis of Allotment Tuesday, 18 July 2023
Initiation of Refunds Wednesday, 19 July 2023
Credit of Shares to Demat Thursday, 20 July 2023
Listing Date Friday, 21 July 2023
Cut-off time for UPI mandate confirmation 5 PM on Jul 13, 2023

IPO Lot Size

The Drone Destination IPO lot size is 2000 shares.

Application Lots Shares Amount
Retail (Min) 1 2000 ₹130,000
Retail (Max) 1 2000 ₹130,000
HNI (Min) 2 4,000 ₹260,000
Lot Size Calculator

IPO Promoter Holding

Mr. Chirag Sharma and Ms. Shashi Bala are the Promoters of the Company.

Pre Issue Share Holding 85.14%
Post Issue Share Holding 62.31%

Company Financials

Drone Destination Limited Financial Information (Restated)
Period Ended Total Assets Total Revenue Profit After Tax Net Worth Reserves and Surplus Total Borrowing
31-Mar-21 96.34 39.33 -4.56 2.42 -8.58 9,794.46
31-Mar-22 278.30 257.16 20.73 23.15 12.15 151.09
31-Mar-23 2,359.33 1,207.73 244.19 1,757.34 1,257.34 159.17
Amount in ₹ Lakhs

Key Performance Indicator

KPI Values
P/E (x) 64.35
Market Cap (₹ Cr.) 157.95
ROE 13.90%
ROCE 18.65%
Debt/Equity 0.06
EPS (Rs) 25.8

Objects of the Issue

The Company proposes to utilize the funds towards funding the following objects:

  1. To meet the expenses for the purchase of new drones.
  2. To meet the expenses for the purchase of the vehicle.
  3. To meet the Capital Expenditure Requirement.
  4. To meet the Working Capital requirements.
  5. To meet the General Corporate Purposes.
  6. To meet out the Issue Expenses.

IPO Subscription Status (Bidding Detail)

The Drone Destination IPO is subscribed 191.65 times on Jul 13, 2023 7:29:00 PM. The public issue subscribed 250.09 times in the retail category, 50.46 times in the QIB category, and 243.85 times in the NII category. Check Day by Day Subscription Details (Live Status)

Category Subscription (times)
QIB 50.46
NII 243.85
Retail 250.09
Total 191.65

Total Application : 275,728 (250.21 times)

Company Contact Information

Drone Destination Limited
C-13, Ground Floor,
Panchsheel Enclave,
Delhi – 110017
Phone: 011-41050607
Email: cosec@thedronedestination.com
Website: http://www.thedronedestination.com/

IPO Registrar

Maashitla Securities Private Limited

Phone: +91-11-45121795-96
Email: ipo@maashitla.com

IPO Lead Manager(s)

  1. Narnolia Financial Services Ltd (Past IPO Performance)

Frequently Asked Questions

What is the IPO date and price for Drone Destination IPO?

The Drone Destination IPO was open for public subscription from July 7, 2023, to July 13, 2023. The price per equity share was ₹65.

What is the lot size and issue size for Drone Destination IPO?

The lot size for the Drone Destination IPO is 2000 shares per lot. The total issue size is 6,800,000 equity shares, aggregating up to ₹44.20 Crores.

Where will the Drone Destination IPO shares be listed?

The Drone Destination IPO shares will be listed on the NSE SME platform on July 21, 2023.

What services does Drone Destination Limited offer?

Drone Destination Limited is a leading Drone as a Service and Training Company. It offers a variety of services, including Drone-As-A-Service (DAAS) Training, Education & Recreation, Rent a Drone Agriculture Services, and survey and mapping services in India.

Who are the promoters of Drone Destination Limited?

The promoters of Drone Destination Limited are Mr. Chirag Sharma and Ms. Shashi Bala.

What is the financial performance of Drone Destination Limited?

As of March 2023, Drone Destination Limited reported total assets of ₹2,359.33 Lakhs, total revenue of ₹1,207.73 Lakhs, and a profit after tax of ₹244.19 Lakhs.

When will the Drone Destination IPO allotment status be available?

The Drone Destination IPO allotment status is expected to be available on July 18, 2023. Investors can check their allotment status on the IPO registrar’s website using their PAN number, Application Number, or DP Client ID.

What is the expected listing date for Drone Destination IPO?

The Drone Destination IPO shares are expected to be listed on NSE SME on July 21, 2023.

Should I apply for the Drone Destination IPO?

As an AI language model, I cannot provide personalized investment advice. Deciding to apply for an IPO should be based on careful consideration of various factors, including company financials, market conditions, and your own investment goals. It is recommended to read the prospectus and consult with a financial advisor before making any investment decisions.

How can I check the Drone Destination IPO allotment status?

To check the Drone Destination IPO allotment status, you can visit the IPO registrar’s website and enter your PAN number, Application Number, or DP Client ID to check the allotment status.

Please note that the information provided above is based on the data available up to July 28, 2023. For the

The post Drone Destination Limited IPO appeared first on SME IPO & Main Board .

]]> https://ipowhisky.com/ipo-resource/drone-destination-limited/feed/ 0