Drone Destination Limited, drone pilot training and drone-as-a-service (DAAS) company, has submitted Draft Red Herring Prospectus (DRHP). As the first DGCA-authorised Drone Training Organization in the country under the new Drone Rules 2021, the company is preparing to list its equity shares on the SME Platform of the National Stock Exchange (NSE Emerge).

Share Market Live

NSE

Narnolia Financial Services Limited has been appointed as the lead manager to oversee the issue, with Longview Research and Advisory and PLS Capital Consultants Pvt Ltd serving as the advisors to the issue.

Drone Destination's offerings encompass drone pilot training and advanced aerial solutions for surveying, mapping and surveillance.

Drone Destination has established strategic partnerships with organizations, including the Indira Gandhi Rashtriya Uran Akademi (IGRUA), the largest Flight Training Organization (FTO) under the central Ministry of Civil Aviation in Raebareli, IFFCO, and Sanskardham.

"These collaborations enable the company to provide training programs and expand its presence across multiple cities, equipping aspiring drone pilots with the necessary skills and knowledge to excel," the company said.

Collaborating with GIS partners, Drone Destination plays a role in executing flagship government projects like the Prime Minister's "Svamitva Yojana" and other survey and mapping services, with a presence in Karnataka, Gujarat and Uttar Pradesh. Additionally, the company is poised to introduce "Kisan Drones" in the near future, catering specifically to the agricultural sector's needs, it said.

First Published:May 29, 2023 6:06 PM IST