Indian drone firm DroneAcharya moved up and obtained listing on the BSE SME platform at a time when IT stocks around the world are roiling in the turbulent waters of volatility, and, unlike many other startup stocks listed on the Indian bourses, has seen a big rally since then.
On December 23, 2022, the drone startup was interestingly listed on the exchange at a price that was almost 90% above its offering price.
Currently, its shares are trading 63% higher than their listing price of INR 102. In FY23, the startup expects to see a 300% YoY jump in its top line to about INR 10 Cr and a profit after tax of approximately 20%. At the moment 65% of DroneAcharya’s revenue comes from training and edtech and 30% from services.
DroneAcharya sought to prove that IPOs do not have to be overvalued, in contrast to many firms that increase their valuation by approximately three to four times from one funding round to the next despite experiencing revenue delays.
DroneAcharya has had a successful IPO with the support of important investors like Shankar Sharma, Harshal Mode, Ashish Nanda, and Bollywood stars Aamir Khan and Ranbir Kapoor.
The sunrise sector which was valued at $830 Mn in FY20 and is anticipated to develop at a compound annual growth rate (CAGR) of 14.5% between 2021 and 2026, is where the firm is currently trying to strengthen its position.
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