DroneAcharya, AVPL International to enter into a strategic merger

DroneAcharyaAerial Innovations Limited and AVPL International have signed a term sheet for a proposed strategic company merger, according to a BSE filing.

“This proposed merger represents a transformative step for both the companies, and we believe it will enable India to set new industry benchmarks on the world map,” DroneAcharya said in a LinkedIn post.

“Jointly, we will work towards providing industrial, enterprise, defence and space-tech solutions comprising of best in industry hardware, software, automation, capacity building and skill development to our worldwide clients,” it added.

Gurugram-based AVPL International specialises in drone and skill training, drone-as-a-service, and drone manufacturing. It also runs a network of agri-input retail outlets across India.

In addition to the proposed merger, Pune-based DroneAcharya is exploring the implementation of an employee stock pption plan (ESOP) policy.

Founded by Prateek Shrivastava and supported by Bollywood celebrities Aamir Khan and Ranbir Kapoor, along with market veteran Shankar Sharma, DroneAcharya specialises in drone training, services, and surveillance. It is among the first private companies to obtain a 'remote pilot training organisation' licence from the Directorate General of Civil Aviation.

DroneAcharya made its debut on the BSE’s SME bourse in December 2022. The company’s shares were trading 1.91% higher on Friday at 112.50 a piece.