Drone Destination Ltd IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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Drone Destinatio

CMP

358.25

+7.80 (2.23%)

₹65

Offer Price

₹ 44.20 Cr

Issue Size

₹ 1,30,000

Min Investment

2,000

Lot size

Time Line

  • 07
    Jul 2023
    Open
  • 13
    Jul 2023
    Close
  • 18
    Jul 2023
    Finalisation of Basis of Allotment
  • 19
    Jul 2023
    Initiation of Refunds
  • 21
    Jul 2023
    Transfer of Shares to Demat Account
  • 21
    Jul 2023
    Listing Date

Objects of the Offer

  • Build the largest network of Drone Hubs pan-India, offering multitude of drones, services, training and after-sales services.

  • Grow the existing Service Portfolio and introduce new, high-value Drone Services:

  • Create major awareness campaigns amongst youth and conduct demos and trials amongst users to educate them about the benefits of the new drone technology and explore employment and entrepreneurship opportunities within the growing UAV space.

  • Future Business Verticals

Products & Services

  • Drone Destination Ltd is a DGCA-authorized Remote Pilot Training Organisation (RPTO) offering certified training programs.

Strengths

  • Integrated Business Model

  • Cordial relations with its customers

  • Quality Deliverables

  • Favourable Government policies

  • B2G Business Relations

Risks

  • The company training business, (training through drones) is highly regulated and subject to change, its has DGCA license subject to certain conditions. If its fail to comply with the applicable regulations, rules prescribed by Government of India as well as condition on which DGCA license has issued, its business, financial condition may have a material adverse effect on its business & operations.

  • Presently the drone industry is in a nascent stage. If the industry does not experience significant growth, then the company will not be able to achieve its anticipated level of growth.

  • The company is highly dependent on its group company and other drone manufacturing companies for meeting it drone demands. The company may not be able to acquire desired drones if the group company delays in manufacturing and delivery of the drones or unable to manufacture drones whether because of scarcity or unavailability of raw material or otherwise.

  • Any unauthorized access or intrusion into its software or systems, as well as any form of cyber-attack, could significantly harm the company business and have a negative impact on its financial condition and operating results.

  • The Company has not complied with certain statutory provisions of the Stamp Act, 1899. Such noncompliances / lapses may attract penalties and prosecution against the Company and its directors which could impact the financial position of the Company to that extent.

Company Promoters

Promoters Holding

Issue For IPO
23.78%
Pre Holding

84.98%

Post Holding

61.20%

Top Promoters Holding

Financials

All values in Cr

Mar-2023 Mar-2023 Mar-2023 3-Yr trend
Revenue 12.07 (0.00%) 14.56 (-) 13.90 (-4.50%)
Gross Profit 12.07 (0.00%) 14.56 (-) 13.90 (-4.50%)
Net Income 12.07 (0.00%) 14.56 (-) 13.90 (-4.50%)
Assets 12.07 (0.00%) 14.56 (-) 13.90 (-4.50%)
Liabilities 12.07 (0.00%) 14.56 (-) 13.90 (-4.50%)

Peers

Company Name Revenue (Cr) Net Profit (Cr) Assets (Cr) Liabilities (Cr) ROE EPS BVPS Current Ratio Debt to Assets
Drone Destination Ltd 12.07 2.44 19.20 1.63 13.90 0.00 35.15 4.11 0.08
Droneacharya Aerial Innovations Ltd 18.57 3.43 69.72 69.72 5.18 1.77 27.63 4.92 0.00

Book Running Managers

  • Narnolia Financial Services Ltd

Registrar & Transfer Agent

Maashitla Securities Pvt Ltd

451 Krishna Apra Bus,
Netaji Subhash Place,
Pitampura - New Delhi-110034
Phone : 011-45121795 Fax: 01145121795

Company Contact Information

C-13, Ground Floor,
Panchsheel Enclave,
Delhi - 110017
Phone : +9141050607 Email : cosec@thedronedestination.com www.thedronedestination.com

Offer Related Information

Initial public offering of up to 68,00,000 equity shares of Rs. 10/- each ("Equity Shares") of Drone Destination Limited ("DD" or the "Company") for cash at a price of Rs. 65/- per equity share (the "Issue Price"), aggregating to Rs. 44.20 crores ("The Issue"). Out of the issue, 5,00,000 equity shares aggregating to Rs. 3.25 crores will be reserved for subscription by market maker ("Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e. issue of 63,00,000... More

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