Drone Destination Limited

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.

(Read more on the review)

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/

Offer Documents

Drone Destination Limited DRHP

Drone Destination Limited RHP

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%