Archive · 29 Nov 2025
Sebi Bans DroneAcharya and Promoters for Fraud
The Securities and Exchange Board of India (Sebi) has banned DroneAcharya Aerial Innovations Ltd and its promoters for up to two years.
They were fined a total of ₹75 lakh for misusing the money raised from their initial public offer (IPO) and for making false statements about the company's finances.
Sebi found that the company and its promoters made false announcements to trick people into buying their shares and to keep the share price high.
They also lied about the company's profits and used the IPO money for things not mentioned in the IPO plan.
Other companies and people involved in helping with this fraud were also fined and banned from the stock market.
The investigation covered the financial years 2022-23 and 2023-24.
Sebi banned DroneAcharya Aerial Innovations Ltd and its promoters for up to two years for misusing IPO proceeds and making false financial disclosures.
The regulator imposed a total penalty of ₹75 lakh on the company, its promoters, and other entities involved in the fraud.
The company raised ₹33.96 crore through its IPO, which was listed on the BSE SME platform on December 23, 2022.
Sebi found that the company and its promoters made misleading announcements to boost share prices and enable pre-IPO investors to exit at better prices.
The investigation revealed that the IPO proceeds were misused, financial statements were misrepresented, and other entities aided in the fraud.
- Who
- DroneAcharya Aerial Innovations Ltd, its promoters Prateek Srivastava and Nikita Srivastava, Instafin Financial Advisors LLP, Sandeep Ghate, and Micro Infratech Pvt Ltd
- What
- Misutilisation of IPO proceeds, fraudulent corporate disclosures, and market manipulation
- When
- During the financial years 2022-23 and 2023-24
- Where
- India, with the company listed on the BSE SME platform
- Why
- To induce interest in buying shares, maintain share prices, and enable pre-IPO investors to exit at better prices
- Company
- DroneAcharya Aerial Innovations Ltd (DAIL)
- Promoters
- Prateek Srivastava, Nikita Srivastava
- Penalty Amount
- ₹75 lakh
- IPO Amount Raised
- ₹33.96 crore
- Listing Date
- December 23, 2022
- Investigation Period
- FY 2022-23 and 2023-24
- Ban Duration
- Up to two years
- Platform
- BSE SME
