Finshots Daily DroneAcharya Aerial Innovations has landed itself in SEBI’s bad books
Dec 2, 2025
DroneAcharya Aerial Innovations skyrocketed onto the SME exchange with high hopes but soon crashed into controversy. After misusing IPO funds and misleading investors, red flags emerged from sloppy filings and suspicious bonus schemes. As retail investors were trapped, pre-IPO insiders exited with profit. The promised use of raised funds was a mirage—only 2.5% aligned with their declarations. With SEBI stepping in, penalties loom, leaving many bewildered and out of pocket.
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Misleading IPOs Can Mask Long Schemes
- Dronacharya used inflated disclosures and accounting tricks to mislead investors and regulators.
- SEBI uncovered a long-running scheme that turned glossy filings into a façade for misconduct.
Pre‑IPO OCPS Plus Bonus Shares Created Windfalls
- The company sold OCPS to pre-IPO investors, then issued massive bonus shares before conversion.
- That diluted cost per share and produced huge paper gains when the IPO listed higher.
Related‑Party Transfers Were Hidden
- Promoters routed 10.6 crore to Aviyam Synergies, a company they effectively controlled.
- They failed to disclose related‑party transactions required by law, hiding conflicts from investors.