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Paras Defence IPO To Open For Subscription On 21 Sept, Price Band Fixed At Rs 165-175

The offer comprises a fresh issue of Rs 140.6 crore by the company and an offer for sale of up to 17,24,490 equity shares by existing shareholders including Paras Defence promoters.

Paras Defence IPO To Open For Subscription On 21 Sept, Price Band Fixed At Rs 165-175
Paras Defence IPO To Open For Subscription On 21 Sept, Price Band Fixed At Rs 165-175
outlookindia.com
2021-09-17T09:00:37+05:30

Defence and space engineering products and solutions company Paras Defence and Space Technologies will open its IPO for subscription on September 21, 2021.

It has fixed a price band for its IPO at Rs 165-175 per equity share, according to a report in media.

The offer comprises a fresh issue of Rs 140.6 crore by the company and an offer for sale of up to 17,24,490 equity shares by existing shareholders including Paras Defence promoters.

The company plans to garner Rs 170.77 crore through its public issue that will close on September 23. Anchor book, if any, will open for one day on September 20, a day before issue opening.

Promoters Sharad Virji Shah and Munjal Sharad Shah will sell 1.25 million shares and 50,000 equity shares via offer for sale. Among others, Ami Munjal Shah will offload 300,000 equity shares, and Shilpa Amit Mahajan and Amit Navin Mahajan will offer 62,245 shares each in the offer for sale.

Before filing the red herring prospectus, Paras Defence had raised Rs 34.402 crore through a pre-IPO placement of 25,52,598 equity shares.

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