AITMC Ventures Ltd (AVPL), a Gurugram-based agri-drone company, announced its plans for an Initial Public Offering (IPO) according to the Draft Red Herring Prospectus (DRHP). The firm intends to issue up to 2,07,32,000 equity shares, each with a face value of Rs 2 on the NSE Emerge, a platform for small and medium enterprises (SMEs).
The proceeds from the IPO will be used to fund new initiatives, investments in SPH Aviation Pvt Ltd and Farmers City International Pvt Ltd subsidiaries, and provide working capital. AVPL operates in various sectors including skill development, drone skilling and assembly, and agri-retail. It also offers Drone-as-a-Service (DaaS) offerings.
Recognized by the National Skill Development Corporation (NSDC), AVPL serves government departments & agencies and other training providers. The firm is led by Founder & Managing Director Deep Sihag Sisai and Chairman Preet Sandhuu. SKI Capital Services Ltd and Bigshare Services Pvt Ltd are managing the IPO.
In the fiscal year 2023, AVPL recorded revenue of Rs 21.44 crore ($2.85 million) and a profit of Rs 4.81 crore ($640,000).
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