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Paras Defence and Space Technologies Ltd IPO Detail

Paras Defence and Space Technologies Ltd IPO Detail

Paras Defence and Space Technologies are primarily engaged in the designing, developing, manufacturing, and testing of a variety of defence and space engineering products and solutions. The company has five major product category offerings - Defence & Space Optics, Defence Electronics, Heavy Engineering, Electromagnetic Pulse Protection Solutions, and Niche Technologies. Paras Defence and Space Technologies is the only Indian company with the design capability for space-optics and opto-mechanical assemblies and is one of the leading providers of optics for various Indian defence and space programs. The company also delivers customized turnkey projects in the defence segment. The company has partnered with some of the leading technology companies around the world to indigenize advanced technologies in the defence and space sectors for the Indian market.

The company has 2 manufacturing plants in Maharashtra and is in the process of expanding its current manufacturing facility at Nerul in Navi Mumbai.

Competitive Strengths

  • Wide range of products and solutions offerings for defence and space applications.
  • One of the few manufacturers of optics for space and defence application in India.
  • Companies offerings are aligned with the “Atmanirbhar Bharat” and “Make in India” initiatives by the government.
  • Strong R&D capabilities with a focus on innovation.
  • Strong customer relationship with government arms and government organizations.
  • Strong experienced management.

Company Promoters

Sharad Virji Shah and Munjal Sharad Shah

IPO Details

IPO Opening DateSep 21, 2021
IPO Closing DateSep 23, 2021
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO Price ₹165 - 170 per equity share
Market Lot85 Shares
Min Order Quantity85 Shares
Listing AtBSE, NSE
Issue Size₹170.78 Cr
Fresh Issue₹140.60 Cr
Offer for Sale₹30.18 Cr
Retail Portion 35%

IPO Subscription (Bidding Detail)

AS On QIB NII RII EMP OTHER TOTAL
Day 1 0.01x 3.77x 31.36x - 16.57x
Day 2 1.67x 26.32x 68.57x - 40.57x
Day 3 169.65x 927.70x 112.81x - 304.26x

IPO Tentative Timetable

The Paras Defence and Space Technologies Ltd IPO open date is Sep 21, 2021, and the close date is Sep 23, 2021. The issue may list on Oct 01, 2021.

IPO Open DateSep 21, 2021
IPO Close DateSep 23, 2021
Basis of Allotment DateSep 28, 2021
Initiation of RefundsSep 29, 2021
Credit of Shares to Demat AccountSep 30, 2021
IPO Listing DateOct 01, 2021

IPO Lot Size

The Paras Defence and Space Technologies Ltd IPO market lot size is 85 shares. A retail-individual investor can apply for up to 13 lots (1105 shares or ₹187850).

ApplicationLotsSharesAmount (Cut-off)
Minimum185₹14450
Maximum131105₹187850

IPO Promoter Holding

Pre Issue Share Holding88.16%
Post Issue Share Holding

Company Financials:

For the year/period ended (₹ in Crs)

Financial Year Total Assets Total Revenue Profit After Tax
31-Mar-21 362.75 144.60 15.79
31-Mar-20 342.39 149.05 19.65
31-Mar-19 329.75 157.17 18.97

Objects of the Issue:

  • Fund capital expenditure requirements.
  • Funding incremental working capital requirements.
  • Repayment or prepayment of all or a portion of certain borrowings/outstanding loan facilities availed by the company.
  • General Corporate purposes.