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Paras Defence and Space Technologies’ initial public offering (IPO) Opens For Bidding On September 21

Paras Defence IPO Opens For Bidding On September 21

Paras Defence focuses on defence and area optics, defence electronics and heavy engineering

Paras Defence and Space Technologies’ initial public offering (IPO) will open for subscription on September 21. The Mumbai-based defence firm’s IPO will comprise a contemporary problem of shares price Rs 140.60 crore and a proposal on the market of as much as 1.72 million shares by promoters and present shareholders. The public problem will shut on September 16 and the shares are more likely to be listed on the BSE and NSE on October 1.

Retail traders can apply for a minimal one lot dimension of 20 shares and in multiples thereof, as much as 13 heaps. The firm will utilise the IPO proceeds to buy equipment and tools, fund incremental working capital necessities and for common company functions.

Paras Defence focuses on defence and area optics, defence electronics and heavy engineering. It caters to defence public sector undertakings similar to Bharat Electronics, Bharat Dynamics and (*21*) Aeronautics, and purchasers in Belgium, Israel and South Korea. The firm’s manufacturing models are positioned in Navi Mumbai and Thane.

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