Key Points
The initial public offering (IPO) of Drone Destination Ltd began accepting subscriptions on Friday, July 7, and it will stay up for bidding through Thursday, July 13, 2023..
The company has set the IPO's price band at 62 to 65 per equity share and the share will be listed on the NSE SME exchange Friday, July 21.With its public offering, the country's drone service provider hopes to generate 44.20 crore...
New drone purchases, capital investments, and other general company purposes will be funded with the public offering's net proceeds. . 15% of the offer is set aside for non-institutional investors, 50% is allocated to qualified institutional buyers, and the remaining 35% is allocated to retail investors.On.
The SME initial public offering (IPO) of Drone Destination Ltd was subscribed 31.72 times on day 2. The issue received overwhelming response from retail investors who's portion set was subscribed 52.32 times, followed by non-institutional bidders (NIIs) and qualified institutional buyer (QIBs) portion set was subscribed 18.55 times and 5.61 times, respectively, according to data on chittorgarh.com..
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Drone Destination share is 109 apiece, which is 67.69% higher than the IPO price. ..
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