Home / Companies / News /  Paras Defence bags DRDO contract for border surveillance tech

Paras Defence has been selected by Defence Research Development Organization (DRDO) as one of the companies for handing over technology of border surveillance systems, the company informed the exchanges today.

The technology is as developed by instruments research and development establishment (IRDE) and DRDO. This technology has been transferred by a licensing agreement for transfer of technology for border surveillance Systems entered between the Company, IRDE and DRDO.

The system will provide all weather surveillance for day and night monitoring of the border areas, it will consist of Radar, EO sensors etc., mounted on Pan Tilt platforms.

With this ToT Paras shall be serving the requirement of the armed forces of the nation, the company said.

On Monday, Paras Defence shares rose 10% to close at 754.6 apiece on NSE.

Paras Defence IPO has given multibagger returns to investors with the company rallying over 330% to 754 from its issue price of 175 per share. The 170 crore IPO was open for subscription between September 21 and 23 and was subscribed 304 times in that period.

It was listed at 475 per share on the BSE on October 1 at a premium of 171% as against its issue price. Paras Defence is engaged in designing, developing, manufacturing, and testing a wide range of defense and space engineering products.

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