Paras Defense & Space Technologies Limited listed on BSE at Rs. 475 per share - 171% premium over issue price
MUMBAI, Oct 1 (The CONNECT) - Paras Defense & Space Technologies Limited listed on BSE at Rs. 475 per share at 171% premium over its issue price. The scrip got listed at NSE at Rs. 469 per share, a 168 % per cent premium over its issue price of Rs 175. The shares of the company at day end closed at Rs. 498.75 per share on BSE and Rs. 492.45 per share on NSE. The initial public offering was offered at a lower price band of Rs 165 per share and higher price band of Rs 175.
As per BSE, a total or 7.57 lakh shares were traded with a delivery quantity percentage of 100%. The Quantity of traded and delivered at NSE was approximately 21.32 lac shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 139.36 crore.
The Market Capitalization of the Company post today’s closing price stood at Rs. 1945.13 crore as per BSE records.
The Offer was comprising of a fresh issuance of Equity Shares aggregating up to ₹ 140.6 crores and an offer for sale of up to 17,24,490 Equity Shares by Selling Shareholders. The portion reserved for the Non-Institutional Investor category was subscribed 927.70 times and the retail investors was subscribed 112.81 times and, While the Qualified Institutional Buyer category was subscribed 169.65 times.
As per the Defence and Space Industry Report prepared by Frost & Sullivan the Paras Defence, is among India’s leading private sector Company catering to four major segments of Indian defence sector namely, defence optics, defence electronics, electro-magnetic pulse protection solution, and heavy engineering for defence and niche technologies. The Company is the sole Indian supplier of critical imaging components such as large size optics and diffractive gratings for space applications in India. The Company manufactures high precision optics for the defence and space applications such as thermal imaging and space imaging systems.
As per the F&S Report, it is the only Indian Company to have the design capability for space-optics and opto-mechanical assemblies.
The Company has contributed towards some of the most prestigious defence programmes; and under its defence electronics operations it has managed to provide a wide array of high-performance computing and electronic systems for defence applications, including sub systems for border defence, missiles, tanks and naval applications. The Company has undertaken and delivered customized turnkey projects in the defence segment, especially in the defence electronics and EMP protection segments. Currently, the Company operates through two manufacturing facilities in Maharashtra, located at Nerul (Navi Mumbai) and Ambarnath.
The Company’s customer base ranges from government organizations involved in defence and space research to various defence public sector undertakings like Bharat Electronics Limited (BEL), Electronic Corporation of India Limited (ECIL) and Hindustan Aeronautics Limited (HAL); and supply products and solutions to private entities including Tata Consultancy Services Limited, Solar Industries India Limited and Alpha Design Technologies Limited. The Company has also catered to various foreign customers.