The company has positioned Anand Rathi Advisors to look over the issue and the registrar of the same is Link Intime India.

Paras Defence and Space Technologies IPO worth Rs. 170.77 crore will be opening its subscription on September 21, 2021. The price band is fixed at RS. 165-175 per share. The offering will be reportedly shut down for subscription on September 23. 

Paras Defence and Space Technologies opens its IPO subscription from September 21

As reported by Financial Express, the IPO comprises issue of equity shares valued at Rs. 140.6 crore along with an offer-for-sale of up to  17.24 lakh of equity shares valuing Rs. 30.17 crore, at the apex, by the promoters of the company. Out of those 17.24 lakh OFS(offer-for-sale), 12.5 lakh is held by Sharad Virji Shah, around 50,000 shares are with Munjal Sharad Shah, about 3 lakh of them by Ami Munjal Shah, and Amit Navin Mahajan along with Shilpa Amit Mahajan hold up to 62,245 shares each.

In the IPO which is coming into effect on September 21, investors bid for at least 85 equity shares and then in multiples of 85, minimum amount of investment proposed to be held on Rs. 14,875 per slot.

Out of the entire Initial Public Offer, half portion is booked for eligible institutional buyers, and out of the remaining other half, 15% is for non-institutional stakeholders, and 35% is reserved for the retail investors. 

The company has positioned Anand Rathi Advisors to look over the issue and the registrar of the same is Link Intime India. 

From the latest issue, the net proceeds are expected to be invested in the acquisition of machinery and required equipment. It will additionally be utilized for the operating capital requirements, for setting off debts, borrowings and other loan services granted to the company.

Paras Defence and Space Technologies is an organization which offers a wide range of products and solutions for Defence and Space applications. Piloting its product range on the Defence and Space segment, they consist of over five business verticals including Defence and Space Optics, Defence Electronics, Heavy Engineering, Electromagnetic Pulse Protection Solutions and Niche Technologies. The company sells its products in a wide range of geographical markets inclusive of Ophir Optronics Solutions, Mistral Solutions, Data Patterns, CoreEL Technologies, etc.  The establishment employs more than 400 workforces and claims to be capable of handling turnkey projects of small, medium and large size. The company aims to become the most significant Indian Company in the Defence and Space segment.