BharatRohan Airborne Innovations IPO

BharatRohan Airborne Innovations Ltd., incorporated in June 2016, is an agritech solutions provider. The company focuses on drone/UAV platforms and Hyperspectral Imaging (HSI) technology to enhance agricultural productivity. Its services include crop monitoring, guidance on Integrated Crop Management, and agri-input sales, helping farmers make profitable decisions using advanced imaging and decision support systems.

BharatRohan Airborne Innovations IPO Overview

BharatRohan Airborne Innovations IPO is a book-built issue of ₹45.04 crores, comprising entirely a fresh issue of 0.53 crore shares. The IPO opens for subscription on 23 September 2025 and closes on 25 September 2025, with the allotment expected to be finalized on 26 September 2025. The shares are set to list on BSE SME, with a tentative listing date of 30 September 2025. The IPO price band is fixed between ₹80 and ₹85 per share, and the lot size for an application is 1,600 shares. Retail investors are required to invest a minimum of ₹2,72,000 for 3,200 shares (based on the upper price), while the minimum lot size investment for HNI investors is three lots (4,800 shares), amounting to ₹4,08,000. Smart Horizon Capital Advisors Pvt. Ltd. is the book running lead manager, Kfin Technologies Ltd. is the registrar, and Rikhav Securities Ltd. is the market maker for the issue.

BharatRohan Airborne Innovations IPO Details

Particulars	Details
IPO Date	23 September 2025 to 25 September 2025
Listing Date	30 September 2025
Face Value	₹10 per share
Issue Price Band	₹80 to ₹85 per share
Lot Size	1,600 Shares
Total Issue Size	52,99,200 shares (aggregating up to ₹45.04 Cr)
Fresh Issue	52,99,200 shares (aggregating up to ₹45.04 Cr)
Offer for Sale	NA
Issue Type	Bookbuilding IPO
Listing At	BSE SME
Share Holding Pre Issue	1,46,23,820 shares
Share Holding Post Issue	1,99,23,020 shares
Market Maker Portion	2,68,800 shares

BharatRohan Airborne Innovations IPO Reservation

Investor Category	Shares Offered
Market Maker	2,68,800 (5.07%)
QIB	24,64,000 (46.50%)
NII (HNI)	7,68,000 (14.49%)
Retail	17,98,400 (33.94%)
Total	52,99,200 (100%)

BharatRohan Airborne Innovations IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	2	3,200	₹2,72,000
Retail (Max)	2	3,200	₹2,72,000
HNI (Min)	3	4,800	₹4,08,000
HNI (Max)	7	11,200	₹9,52,000
B-HNI (Min)	8	12,800	₹10,88,000

BharatRohan Airborne Innovations IPO Promoter Holding

Shareholding Status	Percentage
Pre-Issue	54.86%
Post-Issue	40.27%

BharatRohan Airborne Innovations IPO Valuation Overview

KPI	Value
EPS (Post IPO)	3.81
P/E Ratio	22.32
ROE	28.21%
ROCE	19.69%
Debt/Equity	0.04
RoNW	20.38%
PAT Margin	26.93%
EBITDA Margin	28.12%
Price to Book Value	3.32

Objectives of the Proceeds

• Fund capital expenditure for new equipment: ₹14.21 Cr

• Purchase commercial vehicles for operational use: ₹2.29 Cr

• Meet working capital requirements: ₹16.68 Cr

• General corporate purposes

Key Financials (₹ Crore)

Particulars	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	42.02	22.33	5.27
Revenue	28.23	18.98	6.53
Profit After Tax	7.59	6.90	1.81
Reserves and Surplus	22.83	13.11	3.30
Total Borrowings	1.34	4.13	1.52