Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
IPO News

| More

Defence and Space Tech Co, Paras becomes most oversubscribed IPO in Capital Markets History

Posted On: 2021-09-26 17:00:19 (Time Zone: IST)


Paras Defence and Space Technologies Limited's IPO saw overwhelming response from all the category of investors. It received bids of 2,17,26,31,875 shares against the offered 71,40,793 equity shares, as per the 5:00 pm data available on the bourses.

The portion reserved for the Non-Institutional Investor category was subscribed 927.70 times and the retail investors was subscribed 112.81 times and, While the Qualified Institutional Buyer category was subscribed 169.65 times.

The issue was subscribed 304.26 times making it the most subscribed IPO in the history, followed by Salasar Technologies with 273.05 times, Apollo Micro Systems was subscribed 248.5 times.

Other IPOs that made into the list of most subscribed include Astron Paper & Board Mill with 241.8 times, Mrs. Bectors(198 times), Capacite Infraprojects(183 times), Ujjivan Small Finance Bank (165.7 times), and Amber Enterprises (165.4 times).

The Offer was comprising of a fresh issuance of Equity Shares aggregating up to ₹ 140.6 crores ("Fresh Issue") and an offer for sale of up to 17,24,490 Equity Shares by Selling Shareholders.

Defence has remained a focus area for the government and Indian companies are seen as key beneficiaries of the Centre's schemes such as Atmanirbhar Bharat and Make in India. While the same will benefit Paras Defence, the company's strength lies in its R&D and relationship with diverse customers.

Global defence spending is estimated to have touched US$1.98 trillion (tn) in 2020 with 2.6% YoY growth. Five largest spenders account for ~62%, including US, China, India, Saudi Arabia and Russia. India defence expenditure has been on a constant growth trajectory, largely on account of rising conflicts & border tensions with neighbours viz. China and Pakistan in addition to cross-border terrorism threats. The contribution of defence expenditure to GDP has risen from 2.2-2.3% to ~3% over a decade. The Indian Air Force (IAF) comprises more than ~39%of the defence capital outlay followed by the Army and Navy at 27% and 25%, respectively.

Anand Rathi Advisors Limited is the book running lead manager to the Offer ("BRLM").

Company Information

As per the "Defence and Space Industry Report" prepared by Frost & Sullivan ("F&S Report"), the Company, is amongst India's leading private sector Company catering to four major segments of Indian defence sector namely, defence optics, defence electronics, electro-magnetic pulse ("EMP") protection solution, and heavy engineering for defence and niche technologies. The Company is the sole Indian supplier of critical imaging components such as large size optics and diffractive gratings for space applications in India. The Company manufactures high precision optics for the defence and space applications such as thermal imaging and space imaging systems. As per the F&S Report, it is the only Indian Company to have the design capability for space-optics and opto-mechanical assemblies.

The Company has contributed towards some of the most prestigious defence programmes; and under its defence electronics operations it has managed to provide a wide array of high performance computing and electronic systems for defence applications, including sub systems for border defence, missiles, tanks and naval applications. The Company has undertaken and delivered customized turnkey projects in the defence segment, especially in the defence electronics and EMP protection segments. Currently, the Company operates through two manufacturing facilities in Maharashtra, located at Nerul (Navi Mumbai) and Ambernath (in Thane).

At the domestic front, the Company's customer base ranges from government organizations involved in defence and space research to various defence public sector undertakings like Bharat Electronics Limited (BEL), Electronic Corporation of India Limited (ECIL) and Hindustan Aeronautics Limited (HAL); and supply products and solutions to private entities including Tata Consultancy Services Limited, Solar Industries India Limited and Alpha Design Technologies Limited. The Company has also catered to various foreign customers.


Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Anand Rathi Wealth Limited's initial public offering to open on December 2, 2021

10 things to know about Star Health and Allied Insurance Company Limited

Angel Broking recommends 'Subscribe' to Star Health and Allied Insurance IPO

Mumbai-based Jesons Industries files DRHP with Sebi for IPO

Delhi based Electronics Contract Manufacturer Elin Electronics files for Rs 760 crore IPO

Tracxn Technologies and Puranik Builders gets Sebi's nod to float IPO

Kolkata-based Tega Industries Limited's IPO to open on December 01, 2021

Star Health and Allied Insurance Company Ltd IPO to open on Nov 30, 2021

10 things to watch out for in Paytm's RHP as the company heads closer to its mega IPO

ESAF Small Finance Bank gets Sebi nod for Rs 998 cr IPO

Anand Rathi Wealth gets Sebi nod for IPO

Penna Cement gets Sebi nod for Rs 1,550 crore IPO

Kolkata based GPT Healthcare files IPO papers with Sebi

Everstone backed SJS Enterprises gets SEBI green signal for its IPO

Ascent Capital-backed Radiant Cash Management Services files draft papers with SEBI to raise funds via IPO

Fino Payments Bank, the first profitable fintech gets Sebi nod for its IPO

Omni Channel Retail Pharmacy Chain, Wellness Forever files for an IPO

Diversified Co., PKH Ventures files its IPO Papers

CX Partners-backed Veeda Clinical Research files for IPO to raise 831 cr

Waaree Energies files DRHP for its IPO

IPO of Shri Venkatesh Refineries Limited to open on BSE SME platform on Sept 29

Paras Defence raises Rs. 51 crores from Anchor Investors

Hyderabad based Consumer Durable Retail Chain, Electronics Mart India files for Rs 500 cr IPO

Hyderabad based Hariom Pipe files for Rs 120 crore IPO

Florintree backed Defence Electronics Co. Data Patterns files for IPO

Paras Defence and Space Technologies Limited's IPO to open on September 21, 2021

Kolkata based Metal and Mining Co., Tega Industries files for its IPO

Prudent Corporate Advisory Services Limited files DRHP with SEBI

Private Market Intelligence SaaS Platform, Tracxn files for an IPO

Inspira Enterprise India Limited files DRHP with SEBI

Aptus Value Housing Finance India Limited, Issue subscribed 0.37 times, Retail portion booked 0.54 times on day 2

Nuvoco's IPO final day: Issue subscribed 1.71 times on final day, Best interest from QIB subscribed 4.23 times

Keventer Agro Limited files DRHP with SEBI

Aptus Value Housing Finance India Limited raises Rs. 834 crs from 21 Anchor Investors

Retail Segment laps up 80 % of CarTrade's IPO on Day 1

Nuvoco sees Steady Retail Category Interest 31% Subscribed on Day 1

Hyderabad based Edible Oil Co., Gemini Edibles & Fats files for Rs. 2500 cr IPO

Nuvoco Vistas raises Rs. 1,500 crores from Anchor Investors, 30% of the IPO size of Rs. 5,000 crores

Exxaro Tiles Limited IPO final day: Issue subscribed 22.57 times, Best interest from Retail investors subscribed 39.88 times

Devyani International Limited IPO Final Day: Issue subscribed 116.71 times, Retail portion booked 39.51

Devyani International Limited Issue subscribed 6.61 times, Retail portion booked 22.94 on day 2

Exxaro Tiles Limited IPO subscribed 10. 30 times, Retail portion booked 21.11 times on day 2

Chemplast Sanmar Limited Initial Public Offer to open on Tuesday, August 10, 2021

Aptus Value Housing Finance India Limited's IPO to open on August 10, 2021

Devyani International Limited Issue subscribed 2.69 times, Retail portion booked 11.36 times on day 1

Exxaro Tiles Limited Issue subscribed 4.67 times, Retail portion booked 9.29 times on day 1

Nuvoco Vistas's Rs. 5,000 crores IPO to open on August 09, 2021

FSN E-Commerce Ventures Private Limited (Nykaa) Files DRHP with SEBI for IPO

Profitable Multi-Channel Auto Platform CarTrade Tech Limited's IPO to open on August 09, 2021

Krsnaa Diagnostics Limited IPO to open on August 4, 2021


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020