Paras Defence IPO shares allotment will be settled on September 28. The IPO was opened for subscription on September 21 and the window for subscription closed on September 23. The company is expected to be listed on NSE and BSE on October 1. The price band was fixed at Rs 165-175 per share. The IPO subscription witnessed a good response from investors. On September 25, that is the final day of the subscription, the IPO was subscribed 304.26 times .The offer received bids for more than 217.26 crore equity shares against the IPO size of 71.4 lakh shares, garnering bids worth Rs 38,021 crore, against the issue size of Rs 170.78 crore. The IPO carried an issue size of Rs 170.78 crore that consisted of a fresh issue as well as an offer for sale (OFS). The fresh issue aggregated up to Rs 140.60 crore, while the OFS came up to Rs 30.18 crore with a total of 1,724,490 equity shares. The public issue had a face value of Rs 10 per equity share and a price band of Rs 165 to Rs 175 per equity share.
The aim of the Paras Defence IPO is to use the proceeds from the issue to fundcapital expenditure requirements as well as incremental working capital requirements. A certain portion of the funds will also go towards the repayments and pre-payments of all or a portion of certain borrowings and outstanding loan facilities availed by the company. The remainder of the funds will be used for general corporate purposes.
Steps to check Paras Defence IPO Allotment Status through websites
Open the Paras Defence IPO Allotment status check i.e. Link Intime.
Check this link- linkintime.co.in/MIPO/Ipoallotment.html.
You will land on the status page.
Select any one of the option options- PAN, Application No, and DP Client ID as per the availability of search information.
Fill in the information as asked in the space provided.
Once done click on the search button to proceed.
IPO allotment status will be displayed.
Steps to check Paras Defence IPO Allotment Status via BSE
Visit the IPO allotment search page of BSE. The direct BSE link- bseindia.com/investors/appli_check.aspx
Select the issue type by clicking on the “Equity” option.
Select the Issue name i.e. Paras Defence IPO from the dropdown list. Fill in the correct Application number.
Enter PAN number.
Tick the “I am not Robot” option.
Recheck the information entered and click on Search Button.
Finally, the Allotment status for the selected IPO will open.
GMP of Paras Defence
The GMP price of Paras Defence on September 27 was Rs 245. The GMP of Paras Defence was Rs 230 on September 26. This means the shares of Paras Defence are being traded in the unlisted market at this price.
Company Outlook:
Paras Defence designs, develops, manufactures and tests the defence and space engineering products and solutions. The company caters to five major defence segments: space optics, defence electronics, electromagnetic pulse (EMP) protection solution, heavy engineering, and niche technologies. The Company has wide range of products and solutions offerings for defence and space applications. It is one of the few manufacturers of optics for space and defence application in India. The promoters for the issue are Sharad Virji Shah and Munjal Sharad Shah. As far as the revenue of Paras Defence is concerned, the Paras Defence clocked revenue growth at a CAGR of 1.3 per cent to Rs 143.3 crore during FY18-FY21 and profit grew at a CAGR of 14.4 percent to Rs 15.7 crore. Earnings before interest, tax, depreciation and amortisation increased at a CAGR of 1.8 percent to Rs 43.4 crore during FY18-FY21.
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