Paras Defence and Space Technologies updates on pre-closure of long-term borrowings

Paras Defence and Space Technologies Limited, with a vision of becoming Debt free and to further strengthen the balance sheet, have taken a step towards the same, by pre-paying all our lenders' long-term borrowings (secured Term Loans) availed from various financial institutions.

Post obtaining listing & trading status on October 1, 2021, the Company had long-term secured financial debts (incl. current maturities) amounting to a sum of Rs. 30.19 crores. Since then, the Company has utilized the net proceeds raised from the Initial Public Offer (IPO) to the tune of Rs. 12.00 crores and internal accruals amounting to Rs. 18.19 crores, towards pre-closure of the above mentioned loans.

With this step the company aims to become net debt free through accelerated de-leveraging and taking forward the government's vision of being self-reliant.

Shares of Paras Defence and Space Technologies Ltd was last trading in BSE at Rs. 687.65 as compared to the previous close of Rs. 643.35. The total number of shares traded during the day was 61261 in over 3373 trades.

The stock hit an intraday high of Rs. 708.00 and intraday low of 644.45. The net turnover during the day was Rs. 41495344.00.

Source : Equity Bulls

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ParasDefenceandSpaceTechnologies INE045601015 LoanPrepayment LongTermBorrowings