Paras Defence IPO subscribed 41x on day-2, Data Patterns files DRHP

Data Patterns (India) is looking to raise Rs 300 cr through its offer, which will also consist of secondary share sale between Rs 300-400 cr

Paras Defence IPO subscribed 41x on day 2

The IPO of Paras Defence and Space Technologies was subscribed nearly 41 times on Wednesday, a day before its close. Bulk of the bids in the IPO have come from retail investors. The price band for the IPO is Rs 165-175 per share. At the top-end, Paras Defence will have a market capitalisation of Rs 683 crore on a post-diluted basis. The company’s IPO comprises Rs 140.6 crore fresh fund raise and Rs 30.2 crore secondary share sale. The company is engaged in manufacturing and testing of defence and space engineering