paras defence ipo date
The proceeds of the new offer, according to Paras Defense, will be utilised to meet capital expenditure requirements, support incremental working capital needs, and repayment or prepayment of loans taken out by the company.
It was announced that Paras Defense’s IPO would begin on September 21 and run for three days, ending on September 23. For its 171-crore initial share sale, Paras Defence and Space Technologies has set a price range of 165-175 per share.
Ten things you should know about the Paras Defense Initial Public Offering (IPO).paras defence ipo date
1.One of Paras Defense’s initial public offerings (IPO) includes new shares worth Rs 140.6 crore in addition to an offer for sale (OFS) of up to 17,24,490 equity shares by the promoters and existing shareholders.
2.Munjal Shah, Shilpa Amit Mahajan, and Amit Navin Mahajan are selling shares on the OFS on behalf of promoter Sharad Virji Shah and Munjal Sharad Shah.
3.At the upper end of the pricing range, the IPO is estimated to fetch 170.7 crore.
4.The proceeds of the new offer will be used to meet capital expenditure requirements, support incremental working capital needs, and repayment or prepayment of loans taken out by the company, according to Paras Defense.
5.Qualified institutional buyers (QIBs) will receive 50% of the issue size, retail investors will receive 35%, and non-institutional investors will receive the remaining 15% of the issue size.
6.The minimum number of equity shares an investor can bid on is 85, and multiples of 85 equity shares can be purchased thereafter.
7.A wide range of defence and space engineering products and solutions are designed, developed, manufactured, and tested at Paras Defense.
8.This company’s business is heavily reliant on government initiatives and programmes, such as defence public sector companies and space research organisations.
9.Anand Rathi Advisors is in charge of the book’s day-to-day operation.
10.Securities of Paras Defense will be placed on the Bombay Stock Exchange and National Stock Exchange (NSE).
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