Paras Defence IPO opens tomorrow: Top 10 things to know, including key dates and how to check allotment status

It's raining IPOs this year! Exactly a week after Ami Organics and Vijaya Diagnostic made their stock market debut, another company is ready to come out with its issue on Tuesday. The new company that will be coming up with the Initial Public Offering (IPO) is Paras Defence and Space Technologies. The IPO will open for subscription  on September 21 and conclude on September 23, the company said in a statement.  

Here are Top 10 things to Know about Paras Defence and Space Technologies IPO: 

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1. Paras Defence and Space Technologies IPO Price Band 

Paras Defence and Space Technologies on Thursday said it has fixed a price band of Rs 165-175 a share for its Rs 171-crore initial share sale. 

2. Paras Defence and Space Technologies IPO Issue Size 

The offering comprises fresh issuance of shares worth Rs 140.6 crore and an offer of sale (OFS) of up to 17,24,490 equity stocks by promoters and existing shareholders. At the upper end of the price band, the IPO is expected to fetch Rs 170.7 crore. 

3. Promoters selling shares on OFS 

Those selling shares on the OFS are promoters -- Sharad Virji Shah, Munjal Sharad Shah and individual selling shareholders are -- Munjal Shah, Shilpa Amit Mahajan and Amit Navin Mahajan. 

4. Paras Defence and Space Technologies IPO Objective 

Proceeds of the fresh issue would be used to fund capital expenditure requirements, support incremental working capital needs and repayment or prepayment of loans availed by the company. 

5.  Paras Defence and Space Technologies IPO Share Allocation 

Half of the issue size has been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. 

6. Paras Defence and Space Technologies IPO Bidding Details 

Investors can bid for a minimum of 85 equity shares and in multiples of 85 equity shares thereafter. 

7. Paras Defence and Space Technologies Company Details  

The company is engaged in designing, developing, manufacturing and testing a wide range of defence and space engineering products and solutions. Paras Defence and Space Technologies business is highly dependent on projects and programmes undertaken by the central government and associated entities, such as defence public sector undertakings and government organisations involved in space research. 

8. Paras Defence and Space Technologies IPO Book Running Lead Manager 

Anand Rathi Advisors is the book running lead manager to the issue. The equity shares of the company would be listed on BSE and NSE. 

9. Paras Defence and Space Technologies IPO Key Dates 

-Applicaton start: September 21 

-Application end: September 23 

-Allotment begins: September 28 

-Refund initiation: September 29 

-Allotment date: September 30 

-Listing on exchange :  October 1 

10. Paras Defence and Space Technologies IPO Allotment Status Check 

The allotment status of the IPO will be availbel around September 28, 2021. The allotment shares will be credited to demat account by September 30. You will be able to check status of Paras Defence and Space Technologies IPO Allotment via registrar of the IPO—Link Intime India Private Ltd — Once it makes it live or through BSE direct link, which we will provide soon.

The above details our as per inputs from discount broker Uptox and news agency PTI