Becomes 410th company to go public on BSE SME Platform
India, 23rd December 2022: BSE SME platform is paving the way for new-age technology and ESG enterprises in India to get listed and raise funds. Droneacharya Aerial Innovations Limited became the 410th company to get listed on the BSE SME Platform. Droneacharya Aerial Innovations had received an overwhelming response from the bidders, clocking an oversubscription of 262 times.
Droneacharya Aerial Innovations Limited came out with an initial public offering of 62,90,000 Equity Shares of Rs.10 Each (“Equity Shares”) For Cash at a Price of Rs. 54 Per Equity Share (The “Offer Price”), Aggregating to Rs. 33.97 Crore. The company has successfully completed its public issue on December 15, 2022.
Drone acharya Aerial Innovations Limited is Karnataka based company whose registered office is at Bangalore. The company engaged in a full-fledged innovative high-end ecosystem of Drone solutions for multi-sensor Drone surveys, data processing of Drone data using robust high configuration workstations, Drone pilot training & specialized GIS training. Drone training & Geospatial Training courses of various type DGCA Certified Drone Pilot, Drone Building, Drones for Racing, Aerial Cinematography & Aerial Making, Implement python for GIS, Industrial applications of UAV, Drone data processing.
New Delhi based Corporate Capital Ventures Private Limited, was the lead manager to Droneacharya Aerial Innovations Limited.
So far, 158 companies have migrated to the main board. The 409 companies listed on BSE SME Platform have raised Rs.4,509.75 crore from the market and total market capitalization of 409 companies as on December 22, 2022 is Rs. 62,000.00 Crore. BSE is the market leader in this segment with a market share of 60 percent.
As SMEs generate the highest rates of employment growth, the government has recognized their role and importance in the economy and is collaborating with capital market participants to bring such entities onto the exchange platform for greater visibility, transparency, and awareness.