AVPL International Files UDRHP for ₹155 Crore IPO to Propel Expansion in Drones, Skilling, and R&D Initiatives.

Gurugram-based AITMC Ventures (AVPL International) has recently filed its Updated Draft Red Herring Prospectus (UDRHP) to launch its Initial Public Offering (IPO) as part of India’s push toward digital empowerment and indigenous manufacturing. The company is offering a fresh issue of 3,50,00,000 shares, with Khandwala Securities serving as the sole book-running lead manager. This initiative aims to transform AVPL International into a comprehensive Unmanned Aerial Vehicle (UAV) powerhouse across India, capitalizing on its dual business model of vocational education and drone manufacturing.

The financial performance leading into the IPO shows impressive top-line growth, with revenues soaring from INR 41.87 crore in FY24 to INR 106.76 crore in FY26, propelled by institutional skilling. However, profitability faced challenges as EBITDA margins contracted, resulting in a reduced Profit After Tax of INR 13.38 crore in FY26. Investors are keenly observing these dynamics, as the company’s plans to allocate proceeds toward significant infrastructure developments, including a large “Future Tech Park,” will require successful execution amid potential regulatory risks.

In the grey market, initial sentiment appears to be cautiously optimistic, reflective of the company’s robust growth narrative aligned with national initiatives like “Skill India.” However, the heavy reliance on its education vertical and the nascent state of its drone manufacturing raise concerns. For Indian investors, this IPO represents a long-term opportunity given the future potential of the drone market, but they should remain vigilant regarding the execution risks and margin volatility.

Source: The Economic Times

(Expert Note: This report was prepared by the Wealthova IPO team.)