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)
