Mumbai-based defence company, Paras Defence is all set to open its IPO the coming week, from September 21 to September 23 with an aim to raise Rs 170 crore. The IPO includes Rs 140 crore of fresh issue and an offer for sale OF worth Rs 30 crore. The price band for the issue has been kept at Rs 165-175 per share.
Some of the company’s clients include the likes of Bharat Electronics, Bharat Dynamics, and Hindustan Aeronautics are some of the company’s clients on the domestic front along with some customers in Belgium, Israel, and South Korea. Currently, it operates through two manufacturing facilities in Maharashtra — Navi Mumbai and Thane.
Right ahead of the IPO launch, there seems to be increasing demand for the issue as the grey market premium as per sources, was around Rs 200 per share, which is about 200% over the issue price.
Watch the full video to catch all the details you must know about the company before subscribing to the IPO.
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