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Shares of Droneacharya Aerial Innovations Limited, a leading drone manufacturer, have recently experienced a significant increase. On Friday, the stock jumped 20% on the Bombay Stock Exchange (BSE), reaching ₹142, up from ₹118.35 the previous day. The shares have fluctuated between a high of ₹221 and a low of ₹116.50 over the past year, and the company’s market cap has now hit around ₹341 crore.
IPO Background and Share Performance
The company’s IPO was initially priced at ₹54 per share and was open for subscription from December 13 to December 15, 2022. The shares debuted on the stock exchange at ₹102 on December 23, 2022, and are listed on the BSE’s SME platform. The total size of the public issue was ₹33.97 crore.
Recent Trends and Year-to-Date Decline
Although the shares have recently surged, they have still declined over 25% this year. At the beginning of 2024, shares were priced at ₹191.10, but by September 13, 2024, they had fallen to ₹142. Over the past year, the stock has decreased by about 21% from ₹178.80 on September 13, 2023.
IPO Subscription Details
The IPO was hugely popular, with an overall subscription rate of 243.70 times. Retail investor applications were subscribed 330.82 times, non-institutional investors (NII) 287.80 times, and qualified institutional buyers (QIB) 46.21 times.
In summary, despite some recent fluctuations, the recent surge in Droneacharya’s share price highlights growing investor interest and confidence
