Drone manufacturer AITMC just filed for its second IPO attempt, proposing to issue 3.5 crore fresh shares. Founders Deep Sihag Sisai and Preet Sandhuu, along with early investors, are keeping their entire stake, opting for zero offer-for-sale. This puts immediate pressure on their diversified bet—from agricultural drones to defence contracts—to prove public market value.
How We Got Here
AITMC began in 2016 by offering vocational training before pivoting and expanding into drone pilot training and services. The company previously signed a term sheet for a strategic merger with listed peer DroneAcharya in January 2025, which ultimately fell through.
The Numbers
- Their flagship agricultural drone, "VIRAJ", holds DGCA certification.
- By March 31, 2026, AITMC had deployed 162 VIRAJ drones and sold 28 other units.
- The company recently entered defence, securing orders from government-backed Telecommunications Consultants India Limited (TCIL).
- AITMC plans to move commercial drone manufacturing to an upcoming Hisar, Haryana facility, keeping Gurugram for defence.
- They operate "Drone Planet," an online marketplace for drone components, training, and services.
What Happens Next
🇮🇳 Why This Matters for India
For agri-tech founders and farmers in states like Haryana and Punjab, AITMC's drone services could drive significant input efficiency.
The Take
Founders Deep Sihag Sisai and Preet Sandhuu score a major optics win by not diluting; retail investors, however, now shoulder the entire execution risk of a highly diversified drone play. Expect sharp questions on their order book and unit economics during roadshows.
Source:
MediaNama ↗