Paras Defence and Space Technologies Rs 170.77-crore IPO will open for subscription on 21 September, at a cost band of Rs 165-175 per share of face of Rs 10 every. The concern will close for subscription on 23 September. The public provide consists of a fresh concern of equity shares worth Rs 140.6 crore and an provide-for-sale (OFS) of up to 17.24 lakh equity shares worth Rs 30.17 crore, at the upper finish, by promoters of the enterprise. The OFS consists of up to 12.5 lakh by Sharad Virji Shah, up to 50,000 shares by Munjal Sharad Shah, up to 3 lakh shares by Ami Munjal Shah, and up to 62,245 shares every by Shilpa Amit Mahajan and Amit Navin Mahajan.
In the major market place, Paras Defence and Space Technologies have been quoting at a premium of Rs 105 more than the IPO cost. On Thursday, shares have been trading at Rs 280, a premium of 60 per cent in the grey market place, according to the people today who deal in unlisted shares of the enterprise. Investors can bid for a minimum of 85 equity shares and in multiples thereafter, implying a minimum investment quantity of Rs 14,875 per lot.
Up to 50 per cent of the total provide is reserved for certified institutional purchasers, and 15 per cent for non-institutional investors, and the remaining 35 per cent for retail investors. The enterprise does not have any listed sector peers in India. The net proceeds from the fresh concern are proposed to be utilised for acquire of machinery and gear funding incremental working capital specifications repayment or prepayment of all or a portion of specific borrowings/outstanding loan facilities availed by the enterprise and common corporate purposes.
The weighted typical return on net worth for last 3 fiscals is 11.94 per cent. The Price/earnings ratio based on diluted EPS for FY21 for the enterprise at the upper finish of the cost band is as higher as 31.53.
Paras Defence and Space Technologies’ R&D facilities at Nerul, Navi Mumbai are recognised by and registered with DSIR. It’s subsidiary, Paras Aerospace, is also in the course of action of relocating its operation and R&D centre to Nerul, Navi Mumbai. There are numerous organizations that manufacture specific of the goods that Paras Defence sells in different geographical markets which includes Data Patterns, Mistral Solutions, CoreEL Technologies, Ophir Optronicx Solutions, and so forth. The enterprise has appointed Anand Rathi Advisors to handle the concern. Link Intime India has been appointed as the registrar of the concern.