AITMC Ventures Files Updated DRHP With SEBI to Raise Funds via 3.5 Crore Fresh Share Issue

Gurugram-headquartered drone manufacturing and skilling enterprise AITMC Ventures Limited (AVPL) has filed its Updated Draft Red Herring Prospectus (UDRHP-I) with the capital markets regulator, the Securities and Exchange Board of India (SEBI), to float an initial public offering (IPO).

The proposed issue consists entirely of a fresh issue of up to 3,50,00,000 equity shares having a face value of ₹2 each, with no offer-for-sale (OFS) component from existing promoters or selling shareholders. The equity shares are proposed to be listed on both the BSE and the National Stock Exchange of India (NSE) under SEBI's book-building route pursuant to Regulation 6(1) of SEBI ICDR Regulations.

Key Objectives and Capital Expenditure Plans

According to the draft offer document, AITMC Ventures has earmarked ₹155.03 crore from the net fresh issue proceeds to execute key operational and infrastructure projects.

The company plans to deploy the proceeds towards:

• Upgrading technical skill training hubs across Indian colleges and Industrial Training Institutes (ITIs).
• Setting up advanced research and development (R&D) facilities in collaboration with premier academic institutions, including IIT Ropar and IIT Kanpur.
• Developing a proposed manufacturing and technology infrastructure facility, named the "Future Tech Park," located at Sisai, Hansi, in Haryana.
• Funding debt repayments, meeting ongoing working capital cycles, and supporting general corporate purposes.

Bigshare Services Private Limited has been appointed as the registrar to the issue.

Business Operations and Portfolio Overview

Founded in 2016 by Deep Sihag Sisai and Preet Sandhuu, AITMC Ventures operates at the intersection of drone manufacturing, Directorate General of Civil Aviation (DGCA)-certified remote pilot training, precision agriculture, and vocational skill training. The company manufactures commercial unmanned aerial vehicles (UAVs), including its flagship agricultural spraying and monitoring drone "VIRAJ", alongside First-Person View (FPV) units, Hawk drones, and customized multirotor drones.

Beyond equipment assembly, the group delivers enterprise and governmental programmes such as the Global Incubation and Skill Hubs (GISH) with the All India Council for Technical Education (AICTE), and the World Incubation and Skill Hubs (WISH) in Uttar Pradesh. It also provides Drone-as-a-Service (DaaS) solutions targeted at farmer producer organisations, agribusinesses, and public-sector infrastructure monitoring agencies.

Financial Performance and Sectoral Tailwinds

For Fiscal 2026, AITMC Ventures reported revenue from operations of ₹106.8 crore alongside a profit after tax (PAT) of ₹13.4 crore. Regional concentration remains focused on north India, with operations in Delhi and Haryana accounting for 83.42% (₹89.06 crore) of total revenue from operations during FY26, followed by Uttar Pradesh at 9.23% (₹9.86 crore).

The public listing move comes as India actively promotes domestic drone manufacturing through the Production-Linked Incentive (PLI) scheme, import restrictions on foreign drones, and widespread government adoption across agriculture, surveying, and defence applications. If approved and completed, the public offer will position AITMC Ventures among a growing cohort of pure-play drone and aerospace technology businesses accessing India's mainline equity markets.

Tags: AITMC Ventures SEBI Drone Technology Capital Markets NSE BSE