Droneacharya Aerial marks stellar debut at 89% premium to issue price

23 Dec 2022 , 03:07 AM

Droneacharya Aerial Innovations’ shares debuted at Rs102 per share, a whopping 89% premium over its issue price of Rs54 per share on the BSE on Friday.

Following its listing, the stock froze a 5% upper circuit at Rs107.10 and nearly doubled or zoomed 98% from its issue price. Later, in intra-day trading on Friday, the stock fell to Rs96.90.

According to exchange data, approximately 2.35 million equity shares changed hands, with pending buy orders for 278,000 shares on the BSE. In comparison, the S&P BSE Sensex fell 1% to 60,231.

Droneacharya Aerial’s equity shares were listed and admitted to trading on the exchange in the MT group. The BSE SME scrips classified as ‘M’ are traded and settled on a net basis, whereas those classified as ‘MT’ are traded and settled on a gross basis.

Droneacharya Aerial Innovations offers a high-end ecosystem of drone solutions for multi-sensor drone surveys, data processing of drone data, drone pilot training, and specialised GIS training.

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