AITMC Ventures files for IPO to expand drone and skilling operations

AITMC Ventures, a Gurugram-based startup specializing in drone technology and vocational education, has filed an updated draft red herring prospectus (UDRHP) for an initial public offering (IPO). The offering consists of a fresh issue of up to 3.5 crore equity shares with no offer-for-sale component. Market estimates suggest the fundraise could range between ₹155 crore and ₹200 crore.

The company plans to allocate approximately ₹155.03 crore of the net proceeds toward several strategic initiatives. The largest portion, ₹69.67 crore, is designated for the establishment of a Future Tech Park in Sisai, located in the Hisar district of Haryana, to support non-defence drone manufacturing and component production.

Additional allocations include ₹40.44 crore to upgrade infrastructure at 17 Industrial Training Institutes and three polytechnic colleges in Uttar Pradesh, and ₹14.5 crore to upgrade Global Incubation and Skill Hubs across 50 AICTE-approved colleges. The company also intends to invest ₹10.4 crore in R&D laboratories at IIT Ropar and IIT Kanpur, alongside ₹20 crore to repay or prepay existing borrowings.