What you need to know regarding Droneacharya’s blockbuster IPO

  • DroneAcharya’s initial public offering (IPO) was oversubscribed 262 times, with bids worth Rs 6,016.78 crore for 109.61 crore shares.
  • The startup was founded by Prateek Shrivastava and is backed by Bollywood celebrities Aamir Khan, Ranbir Kapoor and market veteran Shankar Sharma.
  • DroneAcharya stands on a business tripod of training, services, and surveillance, and is the first private company to offer a 10-year certification to pilot drones of up to 25 kgs.
  • The company is also planning to enter the manufacture of customised 100% indigenous drones and offer land and underwater surveying services.
  • DroneAcharya has collaborated with several union ministries including Broadcast Engineering Consultants India Limited (BECIL) and the Rashtriya Raksha University.
  • It has also announced plans to acquire 100-plus new drones as a part of its expansion plans and aims to train 500 plus pilots and 25 instructors annually starting 2023.
  • India’s UAV market was valued at $830 million in FY2020 and is projected to grow at a compound annual growth rate (CAGR)

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