Paras Defence IPO comprises fresh issuance of shares worth ₹140.6 crore and an offer of sale (OFS) of up to 17,24,490 equity stocks
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Paras Defence IPO (initial public offering) that opened for subscription on Tuesday has been oversubscribed 300 times on the final day of its bidding on Thursday. The three-day initial share sale's price band has been fixed at ₹165 to ₹175 per equity share.
As per BSE data, the issue has been booked 304 times on day 3 as of 4 pm. Retail Individual Investors (RIIs) category received over 111 times subscription and non-institutional investors 928 times, while Qualified Institutional Buyers (QIBs) 169 x.
The defence company aims to raise ₹171 crore from this public issue out of which ₹140.6 crore is targeted through fresh issue while ₹30 crore is aimed via OFS (offer for sale). As per market observers, Paras Defence shares are available at a strong premium of ₹225-230 in the grey market today.
Here we list out 10 important details in regard to Paras Defence IPO:
1] Paras Defence IPO GMP: Paras Defence IPO grey market premium (GMP) today is ₹225-230, around the same range as it was yesterday. Paras Defence shares have been trading above ₹150 ever since it became available for trade in the grey market, reflecting'highly bullish' mood ahead of the subscription opening.
2] Paras Defence IPO subscription date: The public issue opened on 21st September 2021 and will conclude for subscription on 23rd September 2021.
3] Paras Defence IPO price: The company promoters have fixed Paras Defence IPO price at ₹165 to ₹175.
4] Paras Defence IPO size: The defence company aims to raise ₹170.78 crore from its initial offer allocating ₹140.60 crore for fresh issues and ₹30.18 crore for OFS.
5] Paras Defence IPO lot size: Bidders will have to apply for the public issue in lots and one lot comprises 85 shares.
6] Paras Defence IPO investment limit: A bidder can apply for minimum 1 lot of the IPO and a single bidder is allowed to bid for maximum 13 lots. That means minimum investment limit in this defence issue is ₹14,875 ( ₹175 x 85) and maximum investment limit allowed for a single bidder in this IPO is ₹1,93,375 ( ₹175 x 85 x 13).
7] Paras Defence IPO allotment date: The tentative date for allotment of Paras Defence shares is 28th September 2021.
8] Paras Defence IPO listing: Shares of Paras Defence will be listed at both NSE (National Stock Exchange) and BSE (Bombay Stock Exchange).
9] Paras Defence IPO listing date: The tentative date for listing of Paras Defence shares is 1st October 2021.
10] Promoters' holding post-listing: After successful listing of Paras Defence shares, promoters' shareholding in the company will come down from existing 79.40 per cent to 59.71 per cent.
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