Latest Updates on Back Drone Destination IPO Allotment

Drone Destination, a company providing drone services, recently conducted its initial public offering (IPO) share allotment on July 18. Investors who applied for the IPO can now check their allotment status on the website of the IPO registrar, Maashitla Securities Private Ltd.

To check the allotment status, follow these steps:

Step 1: Visit the website of Maashitla Securities Private Ltd using the link: https://maashitla.com/allotment-status/public-issues

Step 2: On the landing page, select "Drone Destination Ltd" from the drop-down menu.

Step 3: Allotment status will be available once it's finalized, usually on July 18 or July 19.

Step 4: You can check your allotment status using the following methods:

• Income Tax PAN (permanent account number) number: Enter your 10-digit alphanumeric PAN number and click "Submit."
• Application number or CAF number: Enter your application or CAF number and click "Search."
• Beneficiary ID: Input the depository participant (DP) id and client id together, then click "Submit."

The allotted shares will be credited to investors' Demat accounts on July 20. For those who didn't receive shares, the refund process will start on July 19.

Regarding the Drone Destination IPO GMP (grey market premium) details, the GMP was +40, indicating that the shares were trading at a premium of ₹40 in the grey market on a particular date. The estimated listing price of Drone Destination shares is ₹105 apiece, 61.54% higher than the IPO price of ₹65. The "grey market premium" reflects investors' willingness to pay more than the issue price.

The Drone Destination IPO accepted subscriptions from July 7 to July 13, 2023. The IPO's price band was set at ₹62 to ₹65 per equity share, and the shares are expected to be listed on the NSE SME exchange on July 21, with hopes of generating ₹44.20 crore through the public offering.