Indian dronetech and vocational training company AITMC Ventures has filed its Updated Draft Red Herring Prospectus (UDRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering. The proposed issue consists entirely of up to 3.5 crore fresh shares, with no offer-for-sale component from existing shareholders.
Targeted Capital Allocation for FY27
The company has set aside ₹155.03 crore of the IPO proceeds for specific deployment across five main areas during FY27. The largest portion, amounting to ₹69.67 crore, will fund the establishment of a Future Tech Park at Sisai in Haryana's Hisar district, which is designed to host a non-defence drone manufacturing facility along with 23 vendor component units.
AITMC plans to allocate ₹40.5 crore toward upgrading infrastructure at 17 ITIs and three polytechnic colleges in Uttar Pradesh under its World Incubation and Skill Hubs initiative. Additionally, ₹20 crore will be directed toward repaying or prepaying existing debt, ₹14.50 crore will upgrade Global Incubation and Skill Hubs across 50 AICTE-approved colleges, and ₹10.40 crore will support R&D laboratory setups and upgrades at IIT Ropar, IIT Kanpur, and its Gurugram facility.
Shift to Drone Assembly and Skilling
Founded in 2016 by Deep Sihag Sisai as a vocational training firm, AITMC expanded into drone training in 2023. It runs Directorate General of Civil Aviation (DGCA) recognised Remote Pilot Training Organisations in Haryana and claims to have trained over 100,000 candidates across its skilling programs.
In FY25, the company launched in-house drone manufacturing and assembly in Gurugram. Its core product, the DGCA type-certified VIRAJ agricultural drone featuring a 10-litre payload capacity, reached 162 manufactured and deployed units by FY26, alongside 28 other drone sales.
Financial Results and Structural Changes
According to the filing, AITMC reported standalone revenue from operations of ₹106.8 crore in FY26, up from consolidated revenue of ₹87.5 crore in FY25. Standalone net profit for FY26 stood at ₹13.4 crore, compared to a consolidated profit of ₹16.1 crore in the previous financial year.
The shift to standalone financial reporting in FY26 follows the company losing control of its subsidiary, SPH Aviation, in June 2025. AITMC's equity stake dropped from 76% to 19% after it renounced its rights issue entitlement in favour of promoter Preet Sandhuu.
AI-generated editorial illustration; not a documentary photograph.
Source: Dronetech Startup AITMC Files UDRHP For A Fresh Issue IPO
SIGNAL TITANS
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