Paras Defence and Space Technologies Limited IPO – Sept 21 to 23

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Paras Defence and Space Technologies Limited IPO – Sept 21 to 23

September 17, 2021
Paras Defence and Space Technologies Limited IPO – Sept 21 to 23

Paras Defence and Space Technologies Ltd. is coming out with a fresh public issue to raise Rs 170.78 crores from the market.

Key details of the issue:

  • Issue opens – Sept 21 (Tuesday)
  • Issue closes – Sept 23 (Thursday)
  • Issue size – Rs 170.78 crores
  • Price band – Rs 165 to 175 per equity share
  • Bid lot – 85 shares and in multiples thereof

And here are some details of the company and further details on the Paras Defence and Space Technologies Ltd. issue.

Company details:

Paras Defence and Space Technologies Limited is an Indian private sector company engaged in designing, developing, manufacturing and testing of a wide range of defence and space engineering products and solutions. They are one of the leading Indigenously Designed Developed and Manufactured (IDDM) category private sector companies in India, which caters to four major segments of Indian defence sector; that is, Defence and Space Optics, Defence Electronics, Electro-Magnetic Pulse (EMP) Protection Solutions and Heavy Engineering. (Source: F&S Report). They are also the sole Indian supplier of critical imaging components such as large size optics and diffractive gratings for space applications in India (Source: F&S Report).

They have five principal categories of product offerings:

  • Defence and Space Optics – These operations include manufacturing high-precision optics for defence and space applications, such as thermal imaging and space imaging systems. They are one of the leading providers of optics for various Indian defence and space programmes, and the only Indian company with the design capability for space-optics and opto-mechanical assemblies (Source: F&S Report).
  • Defence Electronics – These operations include providing a wide array of high-performance computing and electronic systems for defence applications, including sub-systems for border defence, missiles, tanks and naval applications.
  • EMP Protection Solutions – These include designing, developing, manufacturing and commissioning various solutions for EMP protection. They have the ability to undertake and deliver customized turnkey projects in the defence segment, especially in the Defence Electronics and EMP Protection segments (Source: F&S Report).
  • Heavy Engineering for Defence Operations – This involves providing Heavy Engineering products and solutions, such as components for rockets and missiles along with providing mechanical manufacturing support to other verticals of their business.

They have two manufacturing facilities in Maharashtra, located at Nerul in Navi Mumbai and Ambernath in Thane. Their manufacturing facilities at Nerul and Ambernath have been accredited with quality management system certificate for compliance with ISO 9001:2015 requirements, while their Nerul facility has been additionally accredited with AS9100D certification.

Their customer base includes Government arms and notable Indian public and private sector companies including Bharat Electronics Limited (BEL), Hindustan Aeronautics Limited (HAL), Bharat Dynamics Limited (BDL), Hindustan Shipyard Limited (HSL), Electronic Corporation of India Limited (ECIL), Tata Consultancy Services (TCS), Solar Industries India, Alpha Design Technologies and Astra-Rafael Comsys. Their foreign customers include Advanced Mechanical and Optical Systems (AMOS | Belgium), Tae Young Optics Company Limited (South Korea), Green Optics (South Korea), among others.

Issue size: Rs 170.78 crores

Issue break-up:

  • QIB – 50% of the net offer – Rs 85.39 crores
  • NIB – 15% of the net offer – Rs 25.62 crores
  • RET – 35% of the net offer – Rs 59.77 crores

Listing: NSE and BSE

Registrar: Link Intime India Private Limited

UPI: All retail applications through brokers are compulsorily in UPI mode

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