Paras Defence and House Applied sciences’ preliminary public providing (IPO) will open for subscription on September 21. The Mumbai-based defence firm’s IPO will comprise a contemporary concern of shares value Rs 140.60 crore and a proposal on the market of as much as 1.72 million shares by promoters and present shareholders. The general public concern will shut on September 16 and the shares are prone to be listed on the BSE and NSE on October 1.
Retail traders can apply for a minimal one lot dimension of 20 shares and in multiples thereof, as much as 13 heaps. The corporate will utilise the IPO proceeds to buy equipment and tools, fund incremental working capital necessities and for common company functions.
Paras Defence focuses on defence and house optics, defence electronics and heavy engineering. It caters to defence public sector undertakings akin to Bharat Electronics, Bharat Dynamics and Hindustan Aeronautics, and purchasers in Belgium, Israel and South Korea. The corporate’s manufacturing models are situated in Navi Mumbai and Thane.