Paras Defence IPO receives strong response, subscribed 300 times so far
2 min read 21 Sep 2021, 09:30 AM ISTParas 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
PremiumParas 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.
