Drone Destinations fly high with 57% gain on listing day

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Drone destination shares on Friday made a stellar run, closing 57 percent higher on NSE-Emerge. For the IPO price of $65, the stock closed at Rs 102.10. It opened today at $107.45.

The SME IPO was oversubscribed 191.65 times, with the share for qualified institutional bidders receiving bids 50.46 times, while the allotment to non-institutional bidders was booked 243.85 times and the portion for individual investors was oversubscribed 250.09 times between July 7 and 13.

The ₹44.2 crore issue brought in bids of ₹5,500 crore.