DroneAcharya Shares Crash 20% After SEBI Crackdown

SUMMARY

Shares of DroneAcharya Aerial Innovations slumped 20% to hit the lower circuit at INR 45.38 on the BSE after the Securities and Exchange Board of India (SEBI) barred the company, its promoters, and several associated advisers from the securities market for up to two years

The action followed an investigation that revealed alleged misuse of IPO proceeds, inflated financials and misleading corporate disclosures aimed at propping up the company’s share price

Following today’s decline, Droneacharya’s market capitalisation stood at INR 108.86 Cr. On a year-to-date basis, the shares are down 62.03%

Shares of DroneAcharya Aerial Innovations slumped 20% to hit the lower circuit at INR 45.38 on the BSE today after the Securities and Exchange Board of India (SEBI) barred the company, its promoters, and several associated advisers from the securities market for up to two years.

The action followed an investigation that revealed alleged misuse of IPO proceeds, inflated financials and misleading corporate disclosures aimed at propping up the company’s share price.

Founders Prateek and Nikita Srivastava, along with several associated advisors, were fined INR 75 Lakh and directed to submit complete bank statements, financial records and all agreements linked to the transactions flagged by SEBI.

Following today’s decline, DroneAcharya’s market capitalisation stood at INR 108.86 Cr. On a year-to-date basis, the shares are down 62.03%.

The drone tech company reported a net profit of INR 1.9 Cr in the first half of FY26, up 26% from INR 1.5 Cr in the year-ago period. Operating revenue plunged 64% YoY to INR 9.6 Cr in H1 FY26.

Founded by Prateek Srivastava in 2017, DroneAcharya manufactures drones and offers training as well as services such as drone deliveries and mapping across sectors. The company went public in December 2022, listing at INR 102 per shares – 90% above the issue price.

In its H1 disclosures, DroneAcharya revealed that it had received a show cause notice from markets regulator SEBI in May. During the same period, the company was also pursuing a merger with AITMC Ventures (AVPL).

Although the two companies signed an agreement in January, they decided to put the merger on hold in May. Later, AITMC pre-filed its DRHP for INR 200 Cr IPO in October.

DroneAcharya’s stock saw a sharp rally in May this year during Operation Sindoor, climbing nearly 39% between May 7 and May 23.