Droneacharya Aerial Innovations Limited has announced that it has filed a draft red herring prospectus (DRHP) with the Bombay Stock Exchange (BSE) for its initial public offering today.

The company plans to offer 62.90 lakh equity shares of ₹10 each through the book-building route. The equity shares offered through the DRHP are proposed to be listed on BSE’s SME platform (BSE SME).

Droneacharya is a full-fledged innovative data solution company that provides a complete ecosystem of drone solutions for multi-sensor drone surveys, data processing of drones, robust high-configuration hardware for drone delivery, drone in-a-box solution for automated survey and surveillance, drone pilot training, along with GIS data processing, python coding, and industry-specific courses.

The proceeds from the proposed offering will be used by the company to purchase drones and other accessories, and other general corporate expenses.

Other details of the company

Incorporated by Prateek Srivastava in 2017, Droneacharya is a DGCA (Directorate General of Civil Aviation) certified RPTO (Remote Pilot Training Organisation) company, having its main centre in Pune, Maharashtra. Within six months of operations, they have been able to train more than 150 drone pilots.

Recently, it signed an MOU with Rashtriya Raksha University and launched its second RPTO in Gujarat, aiming to upskill the next generation and the students to join the Indian Armed Forces.

For the year ended June 2022, the company has reported a total income of ₹308.96 lakh and a net profit of ₹72.06 lakh.