Paras Defence IPO: All you need to know

Share Market
Share Market

The Paras Defence initial public offering (IPO), which began on Tuesday and will conclude on September 23, was fully subscribed minutes after bidding opened on day one. The defence company intends to raise a total of 171 crore through this public offering, of which 140.6 crore would be raised through a fresh issuance and 30 crore will be raised through an OFS (offer for sale).

According to BSE data, the issue was approximately 21 times booked on day 2 as of 10:45 a.m., owing to robust demand from retail investors. Retail Individual Investors (RIIs) received approximately 40 times the subscriptions as non-institutional investors (5.51 times), while Qualified Institutional Buyers (QIBs) received less than 0.01x the subscriptions.

The price band for the inaugural share offering has been set at 165 to 175 cents per equity share. According to market experts, Paras Defence shares are currently trading at a significant premium of 225-230 in the grey market.

Watch latest movies on Netflix !

Today, the grey market premium (GMP) on the Paras Defence initial public offering (IPO) is between 225 and 230, approximately 15 to 20 points higher than yesterday. Since it became accessible for sale in the grey market, Paras Defence shares have been trading above 150, showing a ‘very positive’ sentiment ahead of the subscription launch.

The public offering begins today, September 21, 2021, and will be open for subscription until September 23, 2021.

The promoters of the firm have set the initial public offering price of Paras Defence between 165 and 175 dollars.

The defence company intends to raise a total of 170.78 crore from its initial public offering, with 140.60 crore allocated to fresh issues and 30.18 crore to OFS.

The defence company intends to raise a total of 170.78 crore from its initial public offering, with 140.60 crore allocated to fresh issues and 30.18 crore to OFS.

Paras Defence’s shares will be listed on both the NSE (National Stock Exchange) and the BSE (Bombay Stock Exchange) (Bombay Stock Exchange).

.

Visit www.mixpoint.in for more interesting stories.

2 COMMENTS

Leave a Reply