Paras Defence and Space Technologies Limited’s IPO to open on September 21

Paras Defence and Space Technologies Limited’s initial public offering to open on September 21, 2021

Hyderabad:Paras Defence and Space Technologies Limited is proposing to open its initial public offering of Equity Shares (the “Offer”) on Tuesday, September 21, 2021 and closes on Thursday, September 23, 2021. The price band for the Offer has been determined at  ₹ 165 – ₹ 175 per Equity Share.

The Offer comprises of a fresh issuance of Equity Shares aggregating up to  ₹ 1,406 million (“Fresh Issue”) and an offer for sale of up to 17,24,490 Equity Shares by Sharad Virji Shah, Munjal Sharad Shahand Ami Munjal Shah, Shilpa Amit Mahajan and Amit Navin Mahajan.

Mr. Munjal Shah, MD, Paras Defence and Space Technologies Limited

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 and the Selling Shareholder have, in consultation with the book running lead manager to the Offer, considered participation by Anchor Investors in accordance with the SEBI ICDR Regulations, whose participation shall be one Working Day prior to the Bid/Offer Opening Date, i.e. Monday, September 20, 2021. The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended, read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made through the Book Building Process, in compliance with Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation to Non-Institutional Investors and not less than 35% of the Offer shall be available for allocation to Retail Individual Investors.

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