Paras Defence IPO Opens For Bidding Today. Here's What To Expect
NDTV
Paras Defence and Space Technologies' IPO, consisting of a fresh issue amounting to Rs 140.60 crore and an offer for sale of up to 1.72 million shares, will remain open until September 16
Paras Defence and Space Technologies' Rs 170.7 crore initial public offering (IPO) opens for bidding today i.e. September 21, 2021. The Mumbai-based defence company's IPO, consisting of a fresh issue amounting to Rs 140.60 crore and an offer for sale (OFS) of up to 1.72 million shares, will remain open for three days until September 16. Paras Defence's shares are likely to list on the bourses on October 1.
Promoters, Sharad Virji Shah and Munjal Sharad Shah, and individual shareholders viz. Munjal Shah, Shilpa Amit Mahajan and Amit Navin Mahajan will sell shares in the OFS. Investors in the public issue can bid for a minimum of 85 shares and in multiples thereof, extending upto 13 lots.
A total of 50 per cent of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.
The company will utilise the IPO proceeds to purchase machinery and equipment, fund incremental working capital requirements and for general corporate purposes.
