Paras Defence and Space Technologies was incorporated on June 16, 2009. The company is an Indian private sector company engaged in designing, developing, manufacturing and testing of a wide range of defence and space engineering products and solutions. The company has five principal categoriesof product offerings: defence and space optics, defence electronics, EMP protection, heavy engineering for defence and niche technologies.
| Bidding Dates |
|---|
| 21 Sep 2021 - 23 Sep 2021 |
| Subscription |
|---|
| 304.26x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,875 | 1 | 13 | 85 | 9.8 M | ₹165 - ₹175 | 74.98 % | ₹1610.2 M - ₹1707.8 M | RHP DOC |
Paras Defence IPO SUBSCRIPTION STATUS
23 Sep '21Paras Defence IPO overall subscription rate was 304.26 times the total available shares
Paras Defence IPO retail subscription rate was 112.81 times in the retail segment
Paras Defence IPO non-institutional investor subscription rate was 927.7 times in the non-institutional investor category
Paras Defence IPO Qualified Institutional Bidder subscription rate was 169.65 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
23 Sep 2021 (Day 3) | 112.81x | 927.7x | 169.65x |
22 Sep 2021 (Day 2) | 68.57x | 26.32x | 1.67x |
21 Sep 2021 (Day 1) | 31.36x | 3.77x | 0.01x |
Paras Defence FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) |
| FY21 | 157.9 | 1,433.3 | 42.9 | -9.8 |
| FY20 | 196.6 | 1,470.4 | -26.0 | -66.3 |
| FY19 | 189.7 | 1,544.0 | -120.5 | -217.1 |
Paras Defence IPO SUBSCRIPTION STATUS DETAILS
Paras Defence had 9.8 M shares on offer
Paras Defence IPO offer price was in the range ₹165 - ₹175
Paras Defence IPO minimum Investment was ₹14875
Paras Defence IPO issue size was ₹ 1610.2 M - ₹ 1707.8 M
Paras Defence had a minimum lot size of 85 Shares per application
Paras Defence NUMBER OF SHARES ON OFFER
Paras Defence IPO IMPORTANT DATES
| Issue Open Date | 21 Sep 2021 |
| Issue close Date | 23 Sep 2021 |
| Allotment Date | 28 Sep 2021 |
| Refund Date | 29 Sep 2021 |
| Demat Account Credit Date | 30 Sep 2021 |
| Listing Date | 01 Oct 2021 |
| Listing on Exchange(s) | NSE and BSE |
| Paras Defence Allotment Status | Exchange |
Paras Defence IPO subscription opened on 21 Sep 2021, and closed on 23 Sep 2021
IPO allotment for Paras Defence was finalized on Tuesday, 28 Sep 2021
IPO listing for Paras Defence was on NSE and BSE on Friday, 01 Oct 2021
Paras Defence IPO LISTING GAINS
| Issue Price (adjusted) | 87.5 |
| Listing Open Price | 475.0 |
| Listing Close Price | 498.8 |
| Listing Gain% | 171.4% |
| Current Gain% | 1359.5% |
Paras Defence Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Paras Defence and Space Technologies Ltd. | 1277.1 | 4980.7 | 109 | 2.2 | 20.1 | 12.1 | 9.1 | 492.6 | 32.2 | 88.1 | 38.8 | 11.7 | 48.8 |
| Hindustan Aeronautics Ltd. | 4910 | 328368.5 | 36 | 4 | 9.9 | 22.2 | 6.9 | 36788 | 9.7 | 9115.6 | 9 | 136.3 | 9 |
| Bharat Electronics Ltd. | 401 | 293122.1 | 47.7 | 4.1 | 10.2 | 25.3 | 13.6 | 28176.1 | 15 | 6062 | 13.9 | 8.4 | 11.7 |
| Mazagon Dock Shipbuilders Ltd. | 2514.9 | 101446 | 35.5 | 1.1 | 7.6 | 26.5 | 9.4 | 14145.7 | 12.7 | 2583.3 | 7 | 70.8 | 31.7 |
| Bharat Dynamics Ltd. | 1294 | 47433.2 | 112.8 | -4.8 | 19.4 | 9.9 | 2.9 | 2865.6 | -22.5 | 420.3 | -23.5 | 11.5 | -23.5 |
| Garden Reach Shipbuilders & Engineers Ltd. | 2599 | 29772.1 | 37.2 | 0.9 | 4 | 28.5 | 7 | 7276.5 | 34.5 | 747.9 | 41.8 | 69.9 | 42.9 |
Paras Defence INFORMATION ON IPO ISSUE
About Paras Defence
Paras Defence and Space Technologies was incorporated on June 16, 2009. The company is an Indian private sector company engaged in designing, developing, manufacturing and testing of a wide range of defence and space engineering products and solutions. The company has five principal categoriesof product offerings: defence and space optics, defence electronics, EMP protection, heavy engineering for defence and niche technologies.
Object of the Issue
1. Fund capital expenditure requirements.
2. Funding incremental working capital requirements.
3. Repayment or prepayment of all or a portion of certain borrowings/outstanding loan facilities availed by the company.
4. General Corporate purposes.
Paras Defence - PROMOTERS
| Name |
|---|
| Sharad Virji Shah |
| Munjal Sharad Shah |
Paras Defence Book Running Lead Managers
Anand Rathi Advisors Limited
paras.ipo@rathi.com
Paras Defence Registrar to the Offer
Link Intime India Private Limited
Parasdefence.ipo@linkintime.co.in
Paras Defence Strengths
Product portfolio
Wide range of products and solutions offerings for defence and space applications
Less competition
One of the few manufacturers of optics for space and defence applications in India
Aligned with government
Company's offerings are aligned with the “Atmanirbhar Bharat” and “Make in India” initiatives by the government
Innovation capabilities
Strong research and development capabilities with a focus on innovation
Customer relations
Strong customer relationship with government arms and government organizations.
Experienced team
Strong experienced management
Paras Defence Risks
Dependent on government
The business is largely dependent on contracts from the Government of India and associated entities including defence public sector undertakings and government organizations involved in space research
Negative cash flow
The company has sustained negative cash flow in the past and may continue to do so in the future
Fixed price contracts
The company could incur losses under our fixed price contracts as a result of cost overruns, delays in delivery or failures to meet contract specifications
IPO FAQs
Paras Defence and Space Technologies Ltd. IPO listing opened at Rs 475.00 while the issue price was Rs 175.00 giving 171.43% returns. After adjusting for subsequent bonus and splits, the stock trades at Rs 87.50 giving 1359.54% gains since its IPO listing.
This IPO consists of an offer for sale of up to Rs 30.2 crore, of 1,724,490 shares. It also consists of a fresh issue of Rs 140.6 crore.
The promoters of the company are Sharad Virji Shah and Munjal Sharad Shah.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 165.0 - 175.0.
The IPO application opens on Sep 21, 2021 and closes on Sep 23, 2021.
The minimum lot size for the IPO is 85. The maximum lot size for the IPO is 1105.
For all category investors, the minimum application amount for this IPO is Rs. 14,875.0, the maximum value for this IPO is Rs 193,375.0.
This IPO will be allotted on Sep 28, 2021.
The refund will be credited to your account on Sep 29, 2021.
The allotted shares will be credited to your demat on Sep 30, 2021.
Paras Defence and Space Technologies Ltd.’s shares listed on the stock exchanges on Oct 01, 2021.