Another upcoming IPO in 2021 is that of Paras Defence and Space Technologies Ltd. has been garnering attention as of late. Continue reading this article to know more about the key Paras Defence and Space Technologies Ltd details and why this IPO is garnering attention.
About the company
Paras Defence and Space Technologies Ltd is a leading private sector company in India engaged in designing, manufacturing, developing and testing defence and space engineering products and solutions. It is involved in: defence and space optics, defence electronics, electro-magnetic pulse (“EMP”) protection solution and heavy engineering.
This company is the only supplier of critical imaging components like large size optics and diffractive gratings for space applications in India and utilizes opto-mechanical assemblies. Their defence electronics operations offer a wide range of high performance computing and electronic systems for defence applications, including sub systems for border defence, tanks, missiles, and naval applications.
Paras Defence’s business depends heavily on projects undertaken by the central government and government entities, through space research and defence programmes. The company’s goal is to become one of the top companies globally in the domains of defence optics and space research.
Paras Defence and Space Technologies Ltd IPO details
Now that you’re aware of the company, what they offer and their goals, let us take a look at some of the key details of this latest IPO, which has only recently filed their draft red herring prospectus (DRHP).
Paras Defence and Space Technologies Ltd date
On March 9th 2021, it was announced that Paras Defence and Space Technologies Ltd has filed the preliminary papers needed to float an IPO with SEBI. The official IPO opening date is yet to be announced.
Paras Defence and Space Technologies Ltd IPO issue size
According to the DHRP, the offer mentions a fresh issue of shares worth Rs 120 crore with up to 17,24,490 equity shares up for sale. The company is also considering a pre-IPO placement of shares worth Rs 35 crore.
Paras Defence and Space Technologies Ltd IPO share price
As of now, the 17,24,490 equity shares are being offered at a Rs. 10 face value.
Paras Defence and Space Technologies Ltd IPO listing
Currently listed as a book building issue, the equity shares of Paras Defence and Space Technologies Ltd. would be listed on Bombay Stock Exchange (BSE) National Stock Exchange of India Limited (NSE).
Paras Defence and Space Technologies Ltd IPO objectives
The company’s plan is to utilize the proceeds of the fresh issue for funding capital expenditure requirements, supporting incremental working capital needs and the repayment or prepayment of loans availed by the company.
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