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The equity shares of the company would be listed on BSE and NSE.

Paras Defence and Space Technologies IPO will hit the primary market on September 21. The company is aiming to raise Rs 170.80 crore through its upcoming public issue at the upper price band. The issue will conclude on September 23. Here are all the details about the offer.

About the company: Paras Defence and Space Technologies is engaged in designing, developing, manufacturing and testing a wide range of defence and space engineering products and solutions. The company’s business is highly dependent on projects and programmes undertaken by the central government and associated entities, such as defence public sector undertakings and government organisations involved in space research.

About the issue: The offering comprises fresh issuance of shares worth Rs 120 crore and an offer of sale of up to 17,24,490 equity stocks by promoters and existing shareholders, according to the draft red herring prospectus (DRHP).

Price band: The company has fixed a price band of Rs 165-175 for the upcoming issue.

Objective of the issue: Proceeds of the fresh issue would be used to fund capital expenditure requirements, to support incremental working capital needs and repayment or prepayment of loans availed by the company.

Financials: The company’s total income was Rs 149.05 crore for the fiscal year ended March 31, 2020, and Rs 37.94 crore for the six-month period ended September 30, 2020. Its profit after tax was at Rs 19.65 crore for the fiscal year ended March 31, 2020, and it incurred a loss of Rs 13.9 lakh for the six-month period ended September 30, 2020.

BRLM: Anand Rathi Advisors is the book running lead manager (BRLM) to the issue.

Listing: The equity shares of the company would be listed on BSE and NSE.