Public-listed drone startup DroneAcharya Aerial Innovations Ltd has signed a term sheet with AVPL International, operated by AITMC Ventures Ltd, for a strategic company merger.
The merged entity will be called AVPL DroneAcharya.
DroneAcharya didn’t share the financial details of the transaction.
The joint venture is primarily aimed at improving drone manufacturing capabilities. The companies will work towards providing industrial, enterprise, defence and space-tech solutions. They will work on hardware, software, automation, capacity building and skill development for their global clients.
“This proposed merger represents a transformative step for both the companies, and we believe it will enable India to set new industry benchmarks on World Map,” DroneAcharya said in a post on LinkedIn.
AVPL International operates in the drone segment across 12 states. It runs 50 global incubation and skill hubs and 20 centres dedicated to drones and agriculture. The company provides drone training, manufacturing, and services, alongside agri-input retail outlets. It also focuses on training rural youth for global employment opportunities. It also provides drone-based solutions for precision farming, surveying, and crop health monitoring.
DroneAcharya’s share was trading at 2.13% higher at Rs 112.50 apiece on Friday as of 11:50 AM IST.
DroneAcharya went public market in December 2022 on BSE SME. The company was listed at a 90% premium. The company’s share, however, pared some of the gains, with one one-year return standing at -41.54%.
DroneAcharya’s net profit dropped 62.1% to Rs 1.50 crore in the first half of FY25. The company’s revenue from operations, however, grew 28.8% to Rs 26.90 crore in H1 FY24.
