The Indian IPO market continues to attract investors seeking innovative companies, and BharatRohan Airborne Innovations Limited is one such opportunity. The company, specialising in drone-based agricultural solutions and Hyperspectral Imaging (HSI) technology, is opening its IPO on September 23, 2025, enabling investors to participate in the growing agritech sector.
About BharatRohan Airborne Innovations Ltd.
Incorporated in June 2016, BharatRohan Airborne Innovations Ltd. is an agritech solutions provider focusing on drone/UAV platforms and hyperspectral imaging technology. Its offerings aim to support farmers with crop production advice, Integrated Crop Management practices, and decision support systems, enabling profitable farming.
The company provides a one-stop solution for agriculture businesses, combining services and products such as crop monitoring and the sale of branded agri-inputs. As of June 30, 2025, the company employed 39 permanent staff and 20 fixed-term employees.
Competitive Strengths:
- Comprehensive, integrated offerings for agriculture businesses
- Use of technology, including drones, for crop monitoring and data analysis
- Focus on sustainable farming practices
- Experienced promoters and management team
BharatRohan Airborne Innovations IPO Details
The BharatRohan Airborne Innovations IPO is a book-building issue of ₹45.04 crore, entirely a fresh issue of 0.53 crore shares. The IPO will list on the BSE SME.
IPO Timeline:
| Event | Date (Tentative) |
| IPO Open Date | Sep 23, 2025 |
| IPO Close Date | Sep 25, 2025 |
| Tentative Allotment | Sep 26, 2025 |
| Initiation of Refunds | Sep 29, 2025 |
| Credit of Shares to Demat | Sep 29, 2025 |
| Tentative Listing Date | Sep 30, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Sep 25, 2025 |
Key IPO Details:
| Parameter | Details |
| Face Value | ₹10 per share |
| Issue Price Band | ₹80 – ₹85 per share |
| Lot Size | 1,600 shares |
| Total Issue Size | 52,99,200 shares (₹45.04 Cr) |
| Reserved for Market Maker | 2,68,800 shares (₹2.28 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Shareholding Pre-Issue | 1,46,23,820 shares |
| Shareholding Post-Issue | 1,99,23,020 shares |
Investor Category Reservation:
| Category | Shares Offered | Percentage |
| Market Maker | 2,68,800 | 5.07% |
| QIB | 24,64,000 | 46.50% |
| NII (HNI) | 7,68,000 | 14.49% |
| Retail (RII) | 17,98,400 | 33.94% |
| Total | 52,99,200 | 100% |
Anchor Investor Details:
| Bid Date | Shares Offered | Anchor Portion Size (₹ Cr) | 50% Lock-in End Date | Remaining 50% Lock-in End Date |
| September 22, 2025 | 14,75,200 | 12.54 | October 26, 2025 | December 25, 2025 |
Lot Size & Investment:
| Application | Lots | Shares | Amount |
| Retail (Min) | 2 | 3,200 | ₹2,72,000 |
| Retail (Max) | 2 | 3,200 | ₹2,72,000 |
| S-HNI (Min) | 3 | 4,800 | ₹4,08,000 |
| S-HNI (Max) | 7 | 11,200 | ₹9,52,000 |
| B-HNI (Min) | 8 | 12,800 | ₹10,88,000 |
Promoter Holding:
The promoters of the company are Mr. Amandeep Panwar and Mr. Rishabh Choudhary.
- Pre-IPO: 54.86%
- Post-IPO: 40.27%
Book Running Lead Manager: Smart Horizon Capital Advisors Pvt. Ltd.
Registrar: Kfin Technologies Ltd.
Market Maker: Rikhav Securities Ltd.
BharatRohan Airborne Innovations Ltd.: Financials
Financial Highlights (₹ Crore):
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 42.02 | 22.33 | 5.27 |
| Total Income | 28.23 | 18.98 | 6.53 |
| Profit After Tax | 7.59 | 6.90 | 1.81 |
| EBITDA | 7.92 | 7.37 | 1.91 |
| Net Worth | 37.22 | 16.00 | 3.18 |
| Reserves & Surplus | 22.83 | 13.11 | 3.30 |
| Total Borrowing | 1.34 | 4.13 | 1.52 |
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Key Performance Indicators (FY2025):
- Market Cap: ₹169.35 Cr
- ROE: 28.21%
- ROCE: 19.69%
- Debt/Equity: 0.04
- RoNW: 20.38%
- PAT Margin: 26.93%
- EBITDA Margin: 28.12%
- Price to Book Value: 3.32
- EPS Pre-IPO: ₹5.19 | Post-IPO: ₹3.81
- P/E Pre-IPO: 16.38x | Post-IPO: 22.32x
BharatRohan Airborne Innovations IPO Objectives
| Object | Amount (₹ Cr) |
| Funding of Capital Expenditure (new equipment) | 14.21 |
| Purchase of Commercial Vehicle | 2.29 |
| Funding Working Capital Requirement | 16.68 |
| General Corporate Purpose | Balance |
Industry Outlook
The agritech sector in India is growing rapidly, driven by:
- Increasing adoption of drone and imaging technology for precision agriculture
- Government initiatives promoting sustainable and technology-enabled farming
- Rising demand for decision support systems (DSS) and modern crop monitoring
- Growth in commercial agriculture and tech-enabled farm advisory services
BharatRohan Airborne Innovations’ integrated offerings, combined with experienced management and technological focus, position it to benefit from this growth.
Conclusion
BharatRohan Airborne Innovations Ltd. offers a unique investment opportunity in the agritech sector with proven technology and strong growth prospects. While its top and bottom lines have grown steadily, potential investors should consider risks such as dependence on technology adoption rates, regulatory changes, and operational scalability.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO listings to stay updated on the latest market offerings.
