Paras Defence and Space Technologies IPO on 21 September

- Advertisement -

The company intends to utilize the net proceeds from the Fresh Issue towards purchase of machinery and equipment, funding incremental working capital requirements, repayment or prepayment of all or certain borrowings and for general corporate purposes

The company intends to utilize the net proceeds from the Fresh Issue towards purchase of machinery and equipment, funding incremental working capital requirements, repayment or prepayment of all or certain borrowings and for general corporate purposes

Paras Defence and Space Technologies Limited is proposing to open its initial public offering of Equity Shares on Tuesday, September 21, 2021 and close it on Thursday, September 23, 2021. The price band for the offer has been determined at Rs 165 to Rs 175 per Equity Share.

- Advertisement -

The offer comprises of a fresh issuance of Equity Shares aggregating up to Rs 1,406 million (Fresh Issue) and an offer for sale of up to 17,24,490 Equity Shares by Sharad Virji Shah, Munjal Sharad Shah (the Promoter Selling Shareholders) and Ami Munjal Shah, Shilpa Amit Mahajan and Amit Navin Mahajan (the “Individual Selling Shareholders”, and together with the Promoter Selling Shareholders, “Selling Shareholders”).

The company intends to utilize the net proceeds from the Fresh Issue towards purchase of machinery and equipment, funding incremental working capital requirements, repayment or prepayment of all or certain borrowings and for general corporate purposes.

As per the “Defence and Space Industry Report” prepared by Frost & Sullivan (“F&S Report”), the Company, is amongst India’s leading private sector Company catering to four major segments of Indian defence sector namely, defence optics, defence electronics, electro-magnetic pulse (“EMP”) 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.

At the domestic front, 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.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Buzz

E-Motorcycle Maker Ultraviolette Plans to Tap Western Market Soon

0
With international ambitions in mind, Bangalore-based Ultraviolette aims to first tap the domestic market starting next year As per the latest reports, TVS-backed electric motorcycle...

Gurugram: TSSC Joins SBI Card to Launch Telecom CoE for Women

0
This CSR initiative aimed at women's empowerment will skill 763 candidates at the centre set up at a college in Gurugram Telecom Sector Skill...

Tech Mahindra Joins Axiata for 5G Enterprise Solutions

0
Will co-develop and market 5G-related emerging tech across five South and SE Asian countries Partnership in line with Tech Mahindra’s NXT.NOW framework, which...

Exclusive

E-Motorcycle Maker Ultraviolette Plans to Tap Western Market Soon

0
With international ambitions in mind, Bangalore-based Ultraviolette aims to first tap the domestic market starting next year As per the latest reports, TVS-backed electric motorcycle...

Gurugram: TSSC Joins SBI Card to Launch Telecom CoE for Women

0
This CSR initiative aimed at women's empowerment will skill 763 candidates at the centre set up at a college in Gurugram Telecom Sector Skill...

Tech Mahindra Joins Axiata for 5G Enterprise Solutions

0
Will co-develop and market 5G-related emerging tech across five South and SE Asian countries Partnership in line with Tech Mahindra’s NXT.NOW framework, which...

Important Sectors

E-Motorcycle Maker Ultraviolette Plans to Tap Western Market Soon

0
With international ambitions in mind, Bangalore-based Ultraviolette aims to first tap the domestic market starting next year As per the latest reports, TVS-backed electric motorcycle...

Gurugram: TSSC Joins SBI Card to Launch Telecom CoE for Women

0
This CSR initiative aimed at women's empowerment will skill 763 candidates at the centre set up at a college in Gurugram Telecom Sector Skill...

German Electronics Manufacturer Hama Enters India

0
The company has tied up with various distributors and retailers; initially plans to launch over 300 products in India Germany-based Hama, a leading global manufacturer...

Irani Srivastava Roy: Signify’s New Chief HR Officer for India

0
The lighting company appointed the 23-years-of-experience holder for aligning the organization's people strategy with business objectives I look forward to further strengthening the...

EVs Set to Drive Telematics Demand: Report

0
Telematics shipments in India to reach 50 mn units in 2030 The report expects that the rising Electric Vehicle (EV) demand, enhanced 4G...

Manufacturing

First Private Company in India Builds its Own Mission Control Centre

0
Agnikul Cosmos is set to operate from this new facility at Sriharikota which was inaugurated by Shri S. Somanath,  Chairman, ISRO. India’s first launchpad and...

New Product Distribution Center by TI in Germany

0
The centre in Frankfurt enables same-day delivery to central Germany next-day delivery capabilities to most European-based customers.  Texas Instruments, a global semiconductor company whose presence...

Redwood to Supply High-Nickel Cathode to Panasonic

0
Despite the increasing demand, there is no cathode production at scale in North America today: Battery material maker Redwood As per the latest reports, Panasonic...
Infineon, CoolSiC

Infineon Planning New Factory in Dresden

0
The semiconductor major has enhanced its long-term financial targets after witnessing a remarkable FY22 Germany-based Infineon Technologies recently released its results for the fourth quarter...

Uno Minda To Invest Rs 400 Cr In New Light Plant

0
The plant is intended to be commissioned by Q4 FY24 The group registered its highest-ever quarterly performance recently As per the latest reports, the...