Shares of Droneacharya Aerial Innovations tanked nearly 20% on Monday, hitting the lower circuit on the BSE SME platform, a day after SEBI barred the company and its promoters from accessing the securities market for two years.
The stock fell to Rs 45.38 as investors reacted sharply to the regulator’s findings. Droneacharya had made its market debut in December 2022, listing at around Rs 102, nearly 90% above its issue price of Rs 54.
The sell-off followed SEBI’s detailed order, which uncovered multiple violations by the Pune-based drone startup….
