BharatRohan Airborne Innovations, an agritech firm leveraging drones and hyperspectral imaging technology, is set to make its market debut on the BSE SME platform on September 30. The Rs 45.04 crore issue, which closed on September 25, witnessed healthy investor participation with an overall subscription of 10.07 times. However, despite the robust demand, the grey market premium (GMP) stands at just 6%, suggesting a moderate listing upside.

Strong response across investor categories

Priced in the range of Rs 80–85 per share, the IPO saw significant interest from non-institutional investors (NIIs), who subscribed their portion 16 times. Retail investors also showed strong appetite, bidding 8.5 times their quota, while qualified institutional buyers (QIBs) subscribed 8.33 times.
A drone-powered agri solutions firm


BharatRohan provides crop monitoring services and sells branded agri-inputs using cutting-edge drone and hyperspectral imaging solutions. Its technology-driven approach allows farmers to adopt integrated crop management practices, improving yields and profitability.

The IPO proceeds will be used to purchase new equipment (Rs 14.21 crore), fund working capital (Rs 16.68 crore), acquire commercial vehicles, and meet general corporate requirements.

Financial snapshot

The company’s revenue rose 49% in FY25 to Rs 28.23 crore, while profit after tax (PAT) grew 10% to Rs 7.59 crore. While BharatRohan’s differentiated business model could attract long-term investors, immediate listing-day fireworks look unlikely.

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