Updated: September 28, 2021 5:16:07 pm
Paras Defence IPO share allotment status: The initial public offering (IPO) of Paras Defence and Space Technologies was subscribed a whopping 304.26 times over the 71.40 lakh shares that were on offer during the subscription period from September 21-23, 2021. The price band was fixed at Rs 165-175 per share.
Paras Defence IPO received bids of over 217.26 crore (2,17,26,31,875) shares against the total issue size of over 71.40 lakh (71,40,793) shares, data available with the National Stock Exchange (NSE) showed.
The shares which are to be allocated for the qualified institutional buyers (QIBs) was subscribed 169.65 times, while those of non institutional investors was subscribed a whopping 927.70 times and that of retail individual investors (RIIs) was subscribed 112.81 times, the data showed.
The Rs 171 crore IPO of Paras Defence and Space Technologies 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.
Proceeds from the fresh issue would be used to fund capital expenditure requirements, to support incremental working capital needs and repayment or prepayment of loans availed by the company.
Paras Defence and Space Technologies is engaged in designing, developing, manufacturing and testing a wide range of defence and space engineering products and solutions. Its 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.
Investors are now looking forward to the share allotment date of the Paras Defence IPO. The company is supposed to finalise the allotment by Tuesday, September 28, 2021, as per the timeline provided in the red herring prospectus (RHP). In case you have applied for the Paras Defence IPO, then here is how you can check the status of your allotment when it gets declared:
- The allotment status will get updated on the website of the registrar of the IPO, which in this case is Link Intime India (Click here: https://linkintime.co.in/MIPO/Ipoallotment.html). Applicants will need to select Paras Defence and Space Technologies Limited – IPO in the drop-down menu and enter either their PAN, application number or DP Client ID. and click on search to view their allotment status.
- Apart from the registrar’s website, applicants can also check the status of their allotment on the website of the BSE (Click here: https://www.bseindia.com/investors/appli_check.aspx). Here, they will need to select Equity in Issue Type, then select PARAS DEFENCE AND SPACE TECHNOLOGIES LIMITED from the drop-down list in the Issue Name section, enter their Application Number and PAN Number in the respective boxes. Then they have to check on the ‘I am not a robot’ box and then click on search to view their status.
The listing of shares of Paras Defence and Space Technologies is likely to take place on Friday, October 1, 2021, on both the NSE and BSE.
Anand Rathi Advisors is the book-running lead manager to the IPO.
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