Dronetech and skill development startup AITMC Ventures has filed its updated draft red herring prospectus (UDRHP) with SEBI for an initial public offering (IPO) comprising a fresh issue of up to 3.5 crore shares, targeting ₹200 crore. The filing follows SEBI’s observation letter dated January 30, 2026, and comes after the startup’s board approved the IPO in October 2025, according to inc42.com.
Founded in 2016 by Deep Sihag Sisai, AITMC operates in vocational education, drone training, manufacturing, research and development, and drone-as-a-service (DaaS). The company initially focused on government-backed vocational training programs and has trained over 100,000 candidates since inception. The IPO proceeds will fund multiple initiatives, including upgrading incubation and skill hubs at AICTE-approved colleges and ITIs, setting up R&D labs at IIT Ropar and IIT Kanpur, and establishing a Future Tech Park in Haryana’s Hisar district.
The ₹200 crore fresh issue is allocated with ₹155.03 crore earmarked for five specific purposes in FY27: ₹14.5 crore for Global Incubation and Skill Hubs at 50 AICTE colleges, ₹40.5 crore for infrastructure upgrades at 17 ITIs and three polytechnic colleges in Uttar Pradesh, ₹10.4 crore for R&D labs, ₹69.67 crore for the Future Tech Park, and ₹20 crore to repay borrowings. This move positions AITMC among emerging startups leveraging drone technology and vocational training to address skill gaps in India’s workforce.
A portion of the IPO proceeds will also be used for general corporate purposes, with the final allocation to be decided after the issue price is set. The company’s UDRHP filing marks a key step toward its public listing, reflecting its growth trajectory in the drone tech and skill development sectors, inc42.com reported.