Paras Defence's Rs 171 cr IPO opens Sept 21, price band Rs 165-175

Paras Defence and Space Technologies’ Rs 171-crore IPO will remain open from subscription from September 21 and 23. 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 products and solutions. For the year ended March 2021, Paras Defence had clocked net profit of Rs 16 crore on revenues of Rs 143 crore.