Shares of Droneacharya Aerial Innovations Ltd were trading 3% higher on 20 February after the company announced its plan to acquire Aerophile Academy Private Limited.

In its regulatory filing, the company said that they have signed a term sheet to purchase a 76% stake in Aerophile Academy Private Limited, a well-known drone pilot training facility in South India that is certified by the DGCA.

This calculated action also represents DroneAcharya’s entry into the drone pilot instruction market in South India. Through this partnership, the corporation hopes to create a significant impact in the thriving South Indian market and expand its influence beyond its current stronghold in Central, North, and West India.

To advance aviation and aerospace education, the drone firm and JAIN (Deemed-to-be University), Bangalore, formally signed an MOU earlier this week. By strengthening their skills and knowledge, this strategic partnership between these organisations promises to greatly benefit the aviation and aerospace sectors.

Additionally, both sides have agreed to participate in cooperative research projects, with a specific emphasis on drone management and geographic industries.

At 3:0 pm, the shares of Droneacharya Aerial were trading 2.53% higher at Rs 182.20 on NSE.