Drone Destination Limited

Company Profile
Company Name Drone Destination Limited
Open Date 07-07-2023
Close Date 11-07-2023
Exchange NSE SME
Lot Size 2000 shares
Issue Price ₹62 - ₹65 per share
Issue Size 68,00,000Equity Shares
Application Amount ₹ 1,30,000
Recommendation Risk_Averse - Should Wait Risk_Seekers - Should Apply
Drone Destination Limited was incorporated in the year 2019, headquartered in Delhi, and is a DGCA-authorized Remote Pilot Training Organisation (RPTO) offering certified training programs. Company currently has three training bases of its own at Gurugram, Chandigarh and Phulpur. They have also entered into an agreement with Indira Gandhi Rashtriya Uran Akademi (“IGRUA”) for providing DGCA-certified Drone Training and are currently present in Gurugram, Bangalore, Gwalior, Kangra, Coimbatore, Madurai and Bhopal. Company has become the first Drone Training Partner of National Skill Development Corporation ("NSDC”) and shall offer joint certification on various drone-related application courses through NSDC’s Skill India Portal.
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Summary of Financials (All financials in Lakh)

For the Period Ended Mar-21 Mar-22 Mar-23
Total Assets 96.34 278.30 2,359.33
Net Assets 2.42 23.15 1,757.34
Total Borrowings 54.71 151.09 159.17
Total Revenue 39.33 257.16 1,207.73
Profit After Tax -6.16 27.76 330.13

Tentative Timeline

Opening Date 07-07-2023
Closing Date 11-07-2023
Basis of Allotment 14-07-2023
Initiation of Refunds 17-07-2023
Credit of Shares to Demat 18-07-2023
Listing Date 19-07-2023

Objects of the Issue

To meet out the expenses for purchase of new drones.
To meet out the expenses for purchase of vehicle.
To meet out the Capital Expenditure Requirement.
To meet out the Working Capital requirements.
To meet out the General Corporate Purposes.
To meet out the Issue Expenses.

Contact Information

Registered Office Drone Destination Limited C-13, Ground Floor, Panchsheel Enclave, Delhi - 110017
Phone 011-41050607
Email cosec@thedronedestination.com
Website https://www.thedronedestination.com/

Registrar Details

Name Maashitla Securities Private Limited
Phone +91-11-45121795-96
Email ipo@maashitla.com
Website https://www.maashitla.com/

IPO Reservation

Anchor Investor Shares Offered 1,888,000 (27.76%)
Market Maker Shares Offered 500,000 (7.35%)
QIB Shares Offered 1,262,000 (18.56%)
NII (HNI) Shares Offered 945,000 (13.90%)
Retail Shares Offered 2,205,000 (32.43%)
Total Shares Offered 6,800,000 (100%)

Shareholding Pattern

Pre Issue Share Holding (Promoters) 85.14%
Post Issue Share Holding (Promoters) 62.31%

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