PUBLIC ISSUE OF 62,90,000 EQUITY SHARES OF FACE VALUE OF Rs 10 EACH ("EQUITY SHARES") OF DRONEACHARYA AERIAL INNOVATIONS LIMITED (THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF Rs 54.00 PER EQUITY (THE "ISSUE PRICE") AGGREGATING TO Rs 3396.60 LAKH ("THE ISSUE") OF WHICH 3,16,000 EQUITY SHARES AGGREGATING TO Rs 170.64 LAKH WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. NET ISSUE OF 59,74,000 EQUITY SHARES AGGREGATING TO Rs 3225.96 LAKH (THE "NET ISSUE"). THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.22% AND 24.90% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.

ISSUE PRICE: RS. 54/- PER EQUITY SHARE OF FACE VALUE OF RS.10 EACH

THE ISSUE PRICE IS 5.4 TIMES OF THE FACE VALUE OF THE EQUITY SHARES.

RISKS TO INVESTORS:

• The Merchant Banker associated with the Issue has handled 5 (Five) public issue in the past three years out of which 1 of the Issues closed below the Issue Price on Listing date.

• Average cost of acquisition of Equity Shares for the Promoters ie. Mr. Prateek Srivastava is Rs. 0.016/-and Mrs. Nikita Srivastava is Rs. 0.009/- and the Issue Price is Rs. 54 per Equity Share.

The Offer was made in terms of Rule 19(2)(b) of the Securities Contracts (Regulations) Rules 1957, as amended ("SCRR"), read with Regulation 253 of the SEBI ICDR Regulations, The Offer was made through the Book Building Process in accordance with Regulation 229(2) of the SEBI ICDR Regulations wherein, not more than 50% of the Net offer was available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs') ("the QIB Portion'). Our Company in consultation with BRLMs allocate up to 60% of the QIB Portion to Anchor Investor on a discretionary basis ("Anchor Investor Portion"), out of which one third was reserved for domestic Mutual Funds, subject to valid Bids having been received from domestic Mutual Funds at or above the Anchor Investor Allocation Price, in accordance with SEBI ICDR Regulations. Further, 5% of the Net QIB Portion was made available for allocation on a proportionate basis of the Mutual Funds only, and the remainder of the Net QIB Portion was available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids having been received at or above the Offer Price. However, if the aggregate demand from Mutual Funds was less than 5% of the QIB Portion, the balance Equity shares available for allocation in the Mutual Funds Portion were added to the remaining Net QIB Portion for proportionate allocation to QIBs. Further, not less than 15% of the Net Offer was available for allocation to non-institutional Bidders ("Non - Institutional Portion"), subject to valid bids being received at or above the offer price and not less than 35% of the Net Offer was made available tor allocation to Retail Individual Investors ("Rlls') in accordance with SEBI ICDR Regulations, subject to valid bids has been received from them at or above the offer price. All Bidders, other than the Anchor Investors, were mandatorily required to participate in the offer through the application supported by blocked amount ("ASBA") process by providing details of their respective ASBA Accounts (as defined hereinafter) including UPI ID in case of UPI Bidders in which the BID Amount were blocked by the Self Certified Syndicate Banks ("SCSB") or the sponsor Banks, as the case may be. Anchor Investors were not permitted to participate in the Anchor Investor Portion through the ASBA process. For details, see "Issue Procedure" beginning on page 236 of the Prospectus.

The bidding for Anchor Investors Opened and Closed on Monday, 12 December, 2022. The Company received 4 applications from 4 anchor investors for 23,28,000 equity shares. The Anchor investor price was finalized at Rs.54/-per Equity Share. A total of 17,90,000 equity shares allocated under Anchor lnvestor Portion aggregating to Rs. 9,66,60 Lakh.

The Offer received 3,63,204 Applications for 1100482000 Equity Shares (before technical rejections) resulting in174.95 times subscription. The details of the Applications received in the Issue from various categories are as under (before technical rejections):

Final Demand:

The Basis of Allotment was finalised in consultation with the Designated Stock Exchange, being BSE Limited on December 20, 2022.

2) Allotment to Non-lnstitutional Bidders/ Investors (After Technical Rejections)

3) Allotment to Market Maker (After Technical Rejections)

The Basis of Allotment to the Market Maker, at the issue price of Rs. 54/- per Equity Share, was finalized in consultation with BSE Limited. The Category was subscribed by 1.00 times. The total number of shares allotted in this category is 3,16,000 Equity Shares in full out reserved portion of 3,16,000 Equity Shares.

4) Allotment to QIBs (After Technical Rejections)

5) Allotment to Anchor Investors (After Technical Rejections)

The Board of Director of our Company at its meeting held on December 20, 2022 has taken on record the basis of allotment of Equity Shares approved by the Designated Stock Exchange, being BSE and has allotted the Equity Shares to various successful applicants. The Allotment Advice Cum Refund Intimation has been emailed to the email id of the investors as registered with the depositories. Further, instructions to the SCSBs have been issued for unblocking of funds and transfer to the Public Issue Account by on December 21, 2022. The Equity Shares allotted to the successful allottees have been uploaded on December 21, 2022 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company is in the process of obtaining the listing and trading approval from BSE and the trading of the Equity Shares is expected to commence on December 23, 2022.

The details of the allotment made has been hosted on the website of the Registrar to the Issue, Bigshare Services Private Limited Bigshare Services Private Limited at website: www.bigshareonline.com