SME IPO gives multibagger return in 4 months despite 45% dip from record high

However, profit-booking soon triggered in this drome maker stock and Droneacharya Aerial Innovations share price today is at around ₹135 apiece, near 45 per cent lower from its record highs. If we compare this BSE SME stocks offer price during the launch of its initial public offering (IPO) of ₹52 to ₹54 per share, it is still one of the multibagger IPOs that BSE SME exchange has delivered in 20223.

Droneacharya Aerial Innovations share price history

Droneacharya Aerial Innovations IPO was launched in December 2022 at price band of ₹52 to ₹54 per equity share. The public issue got subscribed to whopping 243.70 times whereas its retail portion got subscribed 330.82 times. Droneacharya Aerial Innovations share listed on BSE SME exchange on 23rd December 2022 at a listing premium of around 90 per cent as the stock listed at ₹102 against the issue price of ₹52-54 per share. The Shankar Sharma-owned drone maker stock went on to hit upper circuit within few minutes of its listing and continue to lock-in upper circuits on following sessions and climbed to life-time high of ₹243.35 per share on BSE, delivering around 3350 per cent return to the lucky allottees.

However, profit-booking soon triggered in this Shankar Sharma shareholding company’s shares and today it has retraced to the tune of 45 per cent from its life-time high of ₹243.35 apiece levels. Droneacharya Aerial Innovations share price today is around ₹135, which is still near ₹81 above Droneacharya Aerial Innovations IPO price of ₹52-54 per equity share, delivering 150 per cent return to its lucky allottees, who have a long term perspective on this drome making Shankar Sharma portfolio stock.

Shankar Sharma, other investors backed company

In pre-IPO funding, marque investors led by Shankar Sharma and other well-known market mavens and celebrities have picked a minority stake in the company.

Speaking on outlook of Droneacharya Aerial Innovations shares after the launch of Droneacharya Aerial Innovations, Shankar Sharma said, “Given Prime Minister Narendra Modi’s vision to make India a global drone hub, we have invested in drone services and pilot training start-up Droneacharya. Further, drones are being widely used in the country across industries for surveys, deliveries and surveillance, and this segment is expected to perform strongly in the coming years. We see a great value creation as the company has within a very short span been able to scale up its operations and has dynamic plans ahead.”

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