BharatRohan Airborne Innovations IPO Day 2: Subscribed 1.77 Times, Strong QIB Response

New Delhi, September 24, 2025 – BharatRohan Airborne Innovations Limited’s ₹45 crores IPO closed the second day with a strong response. The Agritech solutions provider company, which utilises drone/UAV-based precision agriculture systems, has seen decent demand from institutional investors.

Established in 2016, BharatRohan Airborne Innovations Limited provides agritech solutions, specializing in drone- and UAV-based crop monitoring and hyperspectral imaging. Its flagship products, CropAssure and SourceAssure, offer bundled crop stewardship, advisory service, trademarked agri-inputs under the trademark name of “Pravir”, and agri-output facilitation.

As a network of over 12,700 farmers with a presence across Rajasthan, Gujarat, and Uttar Pradesh, the firm empowers farmers through precision agriculture, high yield, and better market connections. Its equity shares are proposed to list on the BSE SME platform upon listing.

BharatRohan Airborne Innovations IPO Subscription Status (as of September 24, 2025, 4:52 PM)

The issue has been subscribed to a cumulative number of 1.77 times to date. It has been subscribed 1.31 times in the segment of Retail Individual Investors (RII). The Qualified Institutional Buyers (QIBs, Ex-Anchor) segment witnessed healthy demand, with a coverage of 2.62 times.

Non-Institutional Investors (NII) segment has subscribed 1.77 times. Here, subscriptions of bNII (bids above ₹10 lakh) were 1.87 times. sNII (bids less than ₹10 lakh) were subscribed 1.59.

The Anchor Investors were fully subscribed earlier with 14,75,200 shares issued. Market Makers also subscribed fully with 2,68,800 shares. Overall, out of the issues of 35,55,200 offered, the issue has received bids of 63,02,400 shares at ₹53.57 crores. The applications received to date total 864.

BharatRohan Airborne Innovations IPO Key IPO Details

BharatRohan Airborne Innovations has announced that it will offer its initial public issue (IPO) from September 23 through September 25, 2025. Shares of the company are expected to be available on stock exchanges as of September 30, 2025. The pricing of the issue is ₹80–₹85 per share.

BharatRohan Airborne Innovations IPO is entirely a fresh issue, aiming to raise ₹45 crore through the sale of 52.99 lakh equity shares. Investors can participate with a lot size of 1,600 shares, translating to an investment of ₹1,36,000 at the upper end of the price band.

BharatRohan Airborne Innovations IPO Anchor Allocation

Prior to its public subscription, BharatRohan Airborne Innovations issued 14,75,200 shares to anchor investors on September 22, 2025, at the high end of its price band of ₹85 per share, and collected ₹12.54 crore.

The anchor book witnessed major funds coming out, with Mavira Growth Opportunities Fund acquiring 5,29,600 shares (35.9% of the anchor segment), followed by Nova Global Opportunities Fund PCC – Touchstone with 3,53,800 shares (23.97%). Zeal Global Opportunities Fund and Arath AIF Growth Fund were allocated a total of 236,800 (16.05%) and 179,200 shares (12.15%), respectively. Eminence Global Fund PCC – Eublia Capital Partners rounded off the anchor list and took a total of 1,76,000 shares (11.93%).

Overall, anchor allocation demonstrated high institutional interest prior to the IPO opening, which set a good precedent for the public issue.

BharatRohan Airborne Innovations IPO Lead Manager & Registrar

Lead Manager of the issue: Smart Horizon Capital Advisors Pvt Ltd (formerly Shreni Capital Advisors Pvt Ltd).

Registrar to the Issue: KFin Technologies Limited.

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