Paras Defence and Space Technologies Listing: Shares of Paras Space and Space Technologies made a great entry in the domestic market today. Its shares were listed at a price of Rs 475, which is at a premium of 171.43 percent over the IPO price. The issue price of the IPO was Rs 175 per share i.e. investors got a profit of about Rs 300 per share. The company’s market capitalization at the time of listing stood at Rs 1852 crore.
The IPO received an overwhelming response from investors and became 100% subscribed shortly after the issue opened. This IPO was open for three days and in these three days it was subscribed 304 times. Under this IPO of Rs 170.77 crore, 17.24 lakh equity shares with a face value of Rs 10 were issued under Offer for Sale (OFS) and new shares worth Rs 140.6 crore were issued. The price band for the issue was fixed at Rs 165-175 per share.
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The money raised will be used for
The company’s revenue declined due to Corona, but the EBITD margin increased. Paras Defense and Space Technologies has very little debt and now it has come down to 0.2x after the IPO. The company will use the money raised through the IPO to buy machinery and other equipment, pay off debt partially or fully and meet working capital requirements.
Details about the company
Paras Defense and Space Technologies’ R&D facilities located at Nerul, Navi Mumbai are accredited and registered with DSIR (Department of Scientific and Industrial Research). It is a subsidiary of Parag Aerospace. Paras Defense also sells products like Mistral Solutions, Coral Technologies, Ofir Optometrics Solutions etc. Paras Defense and Space Technologies sells its products in many countries. In the sector in which Paras Defense and Space Technologies is, no Indian company in that sector is listed in the market, that is, it does not have any listed industry piers in the country.
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