Dronetech Startup AITMC Files Updated DRHP With SEBI for Fresh-Issue IPO

Gurugram-headquartered dronetech and skilling enterprise AITMC Ventures Limited has filed its updated draft red herring prospectus (UDRHP-I) with SEBI, moving a step closer to a mainboard listing. The proposed IPO comprises entirely a fresh issue of up to 3.5 crore equity shares of face value ₹2 each, with no offer-for-sale component — meaning promoters Deep Sihag Sisai and Preet Sandhuu will not sell or dilute their stakes in the issue. The shares are proposed to list on the BSE and NSE via the book-building route.

The company has earmarked ₹155.03 crore of the net proceeds for five specified deployments in FY27: ₹14.50 crore to upgrade Global Incubation and Skill Hubs at 50 AICTE-approved colleges; ₹40.5 crore for infrastructure at 17 ITIs and three polytechnic colleges in Uttar Pradesh under its World Incubation and Skill Hubs initiative; ₹10.40 crore for R&D laboratories at IIT Ropar, IIT Kanpur and its Gurugram facility; and ₹69.67 crore to establish a Future Tech Park at Sisai in Haryana's Hisar district.

Founded in 2016, AITMC straddles vocational education and drone hardware: it operates more than 70 drone training centres across 16 states, claims to have trained 1 lakh drone pilot candidates, and has sold 190 drones alongside drone-as-a-service offerings for agriculture. On the financials, FY26 operating revenue jumped 26.3 per cent to ₹106.8 crore, while net profit stayed nearly flat at ₹14.2 crore as expenditure grew faster than the top line.

The filing follows a long road: AITMC pre-filed confidential draft papers in October 2025 after its board approved a ₹200 crore fresh issue, and received SEBI's observation letter on 30 January 2026. This is the company's second shot at going public after an earlier NSE Emerge attempt did not materialise.