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Paras Defence announces launch of initial public offering


16 Sep 2021
Paras Defence and Space Technologies Ltd. has announced public offering of 9758776 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 165.00 per share. The gross proceeds of the issue are expected to be Rs 17,077.86 lakhs.

The company's initial public offer (IPO) will open on 21 September 2021 and is expected to close on 23 September 2021, subject to customary closing conditions. The price band of the issue has been fixed at Rs 165.00-175.00 per share.

The IPO includes a fresh Issue of 9758776 Equity Shares of the Company at an price of Rs 175.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 85 shares with bids in multiples of 85.

Paras Defence and Space Technologies Ltd. anticipates using the proceeds of the issue for Purchase of machinery and equipment Funding incremental working capital requirements of the Company Repayment or prepayment of all or a portion of certain borrowings/outstanding loan facilities availed by the Company General corporate purposes.

ANAND RATHI ADVISORS LTD as lead manager & Link Intime India Private Limited is the registrar, to the issue.
Source: Dion Global   Type: IPO Related