Drone Tech Startup AITMC Ventures Files IPO Draft Papers

AITMC Ventures, an Indian startup focused on drone technology and skill development, has submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO). The company intends to raise funds by issuing up to 3.5 crore new shares, with no offer for sale component.

The IPO proceeds are earmarked for several key development areas. Approximately ₹155.03 crore is allocated for FY27, including ₹14.50 crore to upgrade Global Incubation and Skill Hubs (GISH) at 50 AICTE-approved colleges. Another ₹40.5 crore will be used to enhance infrastructure at 17 ITIs and three polytechnic colleges in Uttar Pradesh under its World Incubation and Skill Hubs (WISH) initiative.

Further investment will target research and development, with ₹10.40 crore designated for upgrading laboratories at IIT Ropar and IIT Kanpur, as well as AITMC's Gurugram facility. A significant portion, ₹69.67 crore, is planned for establishing a Future Tech Park in Hisar, Haryana. Additionally, ₹20 crore is allocated for the repayment or prepayment of certain borrowings.

Founded in 2016 by Deep Sihag Sisai, AITMC Ventures operates in vocational education, drone training, manufacturing, assembly, R&D, and drone-as-a-service (DaaS). The company claims to have trained over 1 Lakh candidates since its inception and expanded into drone-focused skilling in 2023. It also manufactures the VIRAJ agricultural drone, which has DGCA type certification.

Financially, AITMC reported a net profit of ₹13.4 crore for FY26, down from ₹16.1 crore in FY25. Operating revenue increased to ₹106.8 crore from ₹87.5 crore. The company noted a loss of control over its subsidiary SPH Aviation in June 2025.