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Big News! This IPO broke all the records, subscribed 304 times, know the share allotment date

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Big News! This IPO broke all the records, subscribed 304 times, know the share allotment date

Paras Defense IPO – This is the first time in the history of Indian IPO that an IPO has received such a bumper response. Investors have invested heavily in this issue.



New Delhi. The IPO of Paras Defense and Space Technologies (Paras Defense IPO) has received a bumper response. Investors have invested heavily in this issue. The issue of the company has been subscribed 304.26 times on the third day. With this Paras Defense IPO became the most subscribed domestic IPO ever. Let us tell you that the issue of this company in the defense sector was opened on September 21 and closed on September 23. The IPO of Paras Defense is worth Rs 171 crore. Let us tell you that the allotment of shares will be done on September 28. The company’s shares will be listed on the exchange on October 1.

The bidding is for 217.26 crore equity shares in lieu of 71.40 lakh shares of the company. According to the company’s upper price band of Rs 175, a bid of Rs 38,000 crore has been made. The reserve share for retail investors has got 112.81 times the bidding. Whereas Non-Institutional Investors (NIIs or HNIs) have bid 927.70 times their share. The reserve portion for Qualified Institutional Buyers (QIBs) has subscribed 169.65 times.





There is tremendous growth in GMP, the
price band of the issue of Paras Defense is Rs 165-175. Accordingly, the unlisted shares of the company are trading at Rs 415 (175 + 240) in the gray market. That is, it is trading 135% above its upper price band.

Know about the company..
Paras Defense is one of the few companies that provide customized projects to the Defense and Space Risers Sector. The company has two state-of-the-art manufacturing plants in Navi Mumbai and Thane. The company was started in 2009 and in the last 12 years it has successfully made a mark in India’s space and defense sector.

What is the reason for the bumper boom?





According to market experts, it is being liked due to the small issue size, reasonable valuation and the government’s focus on the defense sector. Experts say that it is clear from the strong GMP that the listing of Paras Defense shares is going to be tremendous.
Long term investors can expect good returns from this investment. As of June 2021, the company has orders worth about Rs 305 crore. Due to which good growth is expected in its income. Paras Defense has a wide range of products and has a good list of good customers. This will give good benefit to the company going forward.

 

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