Paras Defense IPO: ₹The public issue of 170.78 crores is going to open next week on 21 September 2021. It will be open for bidding till 23 September 2021. The company management has fixed the price band. ₹from 165 ₹175 per equity share. However, the gray market has already intensified regarding the defense share listing in the Indian stock exchanges. Shares of Paras Defense are available at a premium ₹200 in the gray market.
Here we list down the important details regarding Paras Defense IPO:
– Paras Defense IPO GMP: As mentioned above, the IPO of Paras Defense today is GMP ₹200, which is more than double the IPO price of Paras Defense ₹from 165 ₹175 per equity share. As per market observers, this gray market premium indicates that the gray market is looking forward to listing of Paras Defense IPO ₹375 ( ₹175 + ₹200) – about 115 percent more than the issue price.
– Paras Defense IPO Price: The Defense Company Management has fixed the price band for the public issue: ₹from 165 ₹175 per equity share.
– Paras Defense IPO Size: The company aims to raise ₹170.78 crore from this public issue out of which ₹While there is a plan of 140.60 crores from the fresh issue ₹30.18 crores through OFS (Offer for Sale).
– expert opinion: Speaking on financials that may attract bidders; Abhay Doshi, Founder, UnlistedArena.com, said, “The company has a strong order book of around Rs 305 crore as on June 30, 2021, with a diversified product portfolio in defense and space optics, defense electronics, heavy engineering and niche technologies. However, on the operational front, the top and bottom line growth appears to be muted. At the upper band of Rs 175, the P/E comes around 43 times after the fresh issue. The government’s focus on ‘Make in India’ and Higher budgetary allocation for defense sector may prove beneficial for such companies. Also, liberal policies and PLI scheme for drones will further benefit such companies.” Doshi further said that small issue sizes, fair valuations and focus on the defense sector can lead to a huge jump in IPOs.
– Paras Defense IPO Lot Size: One bidder will be able to apply in lot and one lot will have 85 shares of the company.
– input range: A bidder is allowed to apply for a minimum of one lot and a maximum of 13 lots. That is, the minimum investment allowed in this IPO is ₹14,875 ( ₹175 x 85) while the maximum investment allowed is ₹1,93,375 ( ₹175 x 85 x 13).
Paras Defense IPO Allotment Date: The tentative date for allotment of shares is 28 September 2021.
Paras Defense IPO Listing Date: The tentative date of share listing is 1 October 2021. The shares of the defense company will be listed on both NSE and BSE.
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