Drone Destination Ltd - IPO

Drone Destination Ltd IPO Details

Initial public offering of up to 68,00,000 equity shares of Rs. 10/- each (Equity Shares) of Drone Destination Limited (DD or the Company) for cash at a price of Rs. 65/- per equity share (the Issue Price), aggregating to Rs. 44.20 crores (The Issue). Out of the issue, 5,00,000 equity shares aggregating to Rs. 3.25 crores will be reserved for subscription by market maker (Market Maker Reservation Portion). The issue less the market maker reservation portion i.e. issue of 63,00,000 equity shares of face value of Rs. 10/- each at an issue price of Rs. 65/- per equity share aggregating to Rs. 40.95 crores is hereinafter referred to as the Net Issue. The issue and the net issue will constitute 27.98 % and 25.93 %, respectively of the post issue paid up equity share capital of the company.The face value of the equity shares is Rs. 10/- each and and the floor 6.5 times of the face value of the equity shares.

Objective of issue

Purchase of New Drones. Purchase of Vehicle. Capital Expenditure. Working Capital Requirements. General Corporate Purposes.

Drone Destination Ltd Contact Details

Drone Destination Ltd, 451 Krishna Apra Bus, Netaji Subhash Place, Pitampura, New Delhi-110034

Phone - 011-45121795

Fax - 01145121795

Email - cosec@thedronedestination.com

Website - www.thedronedestination.com