Smallcap stocks hit upper circuit in Monday and Tuesday’s session as well.
Shares of Dronacharya Aerial Innovations are currently available at ₹118.05.
Which is about 120 percent more than its issue price of ₹ 52 to ₹ 54 level.
new Delhi. Dronacharya Aerial Innovations IPO is one of the multibagger IPOs. BSE SME IPO has doubled the money of its allottees in just three days of listing. In this IPO, there was an upper circuit in all the three sessions. The SE SME IPO was launched this month at a price band of ₹52 to ₹54 per equity share.
The SME stock got listed on Dalal Street on Friday last week at a premium of 90 per cent and despite heavy selling on Friday, the company’s stock moved to the upper circuit and closed at ₹107.10. Smallcap stocks hit upper circuit in Monday and Tuesday’s session as well.
Shares of Dronacharya Aerial Innovations are currently available at ₹118.05, which is almost 120 per cent higher than its issue price of ₹52 to ₹54.
Know what experts say
Advising allottees to book partial profits, Avinash Gorakshkar, head of research, Profitmart Securities, said, “Allottees are advised to book 50 per cent profit and withdraw their investment amount. Since this is an SME stock and one cannot book partial profit in it.
Avinash Gorakshkar said that Dronacharya Aerial Innovations stock is related to defense sector and it is a drone solutions company which is expected to get the benefit of contactless selling which Indian government is considering to implement in online retail platforms.
Dronacharya Aerial Innovation Share Price History
Dronacharya Aerial Innovation IPO has received tremendous response from investors. The IPO was open for applications from December 13 to 15, 2022. The company had fixed the price band of the IPO at Rs 52 to 54 per share and a lot of 2000 shares was kept for Rs 1.08 lakh for retail investors.
The public issue was subscribed 243.70 times while its retail portion was subscribed 330.82 times. The SME IPO was subscribed 46.21 times in the QIB category and 287.80 times in the NII category. The issue got listed on the BSE SME Exchange on Friday, 23 December 2022 at ₹102 per share, fetching a 90 per cent premium to the allottees.
FIRST PUBLISHED : December 27, 2022, 19:41 IST