About Paras Defence and Space Technologies IPO

Paras Defence is one of the leading names in India’s private space and defence sector. The company with over four decades of experience is now operating in 5 verticals –

  • Defence Electronics
  • Defence and Space Optics
  • Electromagnetic Pulse Protection Solutions
  • Heavy Engineering
  • Niche Technologies

  • The company has also performed steadily in developing technologies associated with space research, naval systems, electronic surveillance, electromagnetic shielding, to name a few. Paras Defence and Space Technologies Limited has two modern manufacturing facilities in Navi Mumbai and Thane, with a workforce of 400. It enables the company to offer readymade solutions to design and commission different types of systems.

    Paras Defence and Space Technologies IPO Objectives :

    - Buying new equipment and machinery

    - Meeting working capital requirements

    - Funding general corporate purposes

    - Repaying existing debts

    Paras Defence and Space Technologies IPO - Details

    The Paras Defence public issue will comprise both fresh-issue equity shares and offer for sale. The fresh issue will aggregate up to Rs. 140.6 crores and the offer for sale will include the sale of up to 17,24,490 shares from current stakeholders and company promoters. The total issue size will be between Rs. 169 crores to Rs. 171 crores.

    Opening Date

    Sep 21, 2021

    Closing Date

    Sep 23, 2021

    Price Band

    ₹165 to ₹175

    per equity share

    Issue Size

    ₹169 - ₹171 Cr

    Face Value

    ₹ 10

    per equity share

    Market Lot

    85 Shares

    Opening Date

    Sep 21, 2021

    Closing Date

    Sep 23, 2021

    Price Band

    ₹165 to ₹175

    per equity share

    Issue Size

    ₹169 - ₹171 Cr

    Face Value

    ₹ 10

    per equity share

    Market Lot

    85 Shares

    Listing at NSE, BSE

    Paras Defence and Space Technologies IPO Important Dates

    IPO Open Date 21 September 2021
    IPO Close Date 23 September 2021
    Basis Of Allotment Date 28 September 2021
    Initiation Of Refunds 29 September 2021
    Credit Of Shares To
    Demat ACcount
    30 September 2021
    IPO Listing Date 1 October 2021

    Paras Defence and Space Technologies IPO Latest News and Subscription Status Today [Live]

    Day 3 : 23 Sep 2021
    Day 2 : 22 Sep 2021
    Day 1 : 21 Sep 2021

    At 05:05 p.m.

    - This IPO has been subscribed 304.26x by 5:05 PM. on Day 3
    - It is a public issue of 71,40,793 equity shares.

    Status of Subscription

    - (QIB) Qualified institutional buyers: 169.65x
    - (NII) Non-institutional buyers: 927.70x
    - (RII) Retail Individual buyers: 112.81x

     

    At 04:05 p.m.

    - This IPO has been subscribed 303.18x by 4:05 PM. on Day 3
    - It is a public issue of 71,40,793 equity shares.

    Status of Subscription

    - (QIB) Qualified institutional buyers: 169.65x
    - (NII) Non-institutional buyers: 926.20x
    - (RII) Retail Individual buyers: 111.30x

     

    At 02:55 p.m.

    - This IPO has been subscribed 252.79x by 2:55 PM. on Day 3
    - It is a public issue of 71,40,793 equity shares.

    Status of Subscription

    - (QIB) Qualified institutional buyers: 100.99x
    - (NII) Non-institutional buyers: 798.65x
    - (RII) Retail Individual buyers: 104.27x

     

    At 01:40 p.m.

    - This IPO has been subscribed 162.81x by 1:40 PM. on Day 3
    - It is a public issue of 71,40,793 equity shares.

    Status of Subscription

    - (QIB) Qualified institutional buyers: 25.884x
    - (NII) Non-institutional buyers: 500.25x
    - (RII) Retail Individual buyers: 95.24x

     

    At 12:40 p.m.

    - This IPO has been subscribed 67.32x by 12:40 PM. on Day 3
    - It is a public issue of 71,40,793 equity shares.

    Status of Subscription

    - (QIB) Qualified institutional buyers: 8.94x
    - (NII) Non-institutional buyers: 92.18x
    - (RII) Retail Individual buyers: 89.52x

     

    At 11:40 a.m.

    - This IPO has been subscribed 54.81x by 11:40 AM. on Day 3
    - It is a public issue of 71,40,793 equity shares.

    Status of Subscription

    - (QIB) Qualified institutional buyers: 4.86x
    - (NII) Non-institutional buyers: 54.71x
    - (RII) Retail Individual buyers: 82.95x

     

    At 10:40 a.m.

    - This IPO has been subscribed 46.50x by 10:40 AM. on Day 3
    - It is a public issue of 71,40,793 equity shares.

    Status of Subscription

    - (QIB) Qualified institutional buyers: 1.88x
    - (NII) Non-institutional buyers: 34.47x
    - (RII) Retail Individual buyers: 76.77x

     

    At 05:00 p.m.

    - This IPO has been subscribed 40.57x by 5:05 PM. on Day 2
    - It is a public issue of 71,40,793 equity shares.

    Status of Subscription

    - (QIB) Qualified institutional buyers: 1.67x
    - (NII) Non-institutional buyers: 26.32x
    - (RII) Retail Individual buyers: 68.57x

     

    At 04:05 p.m.

    - This IPO has been subscribed 36.40x by 4:05 PM. on Day 2
    - It is a public issue of 71,40,793 equity shares.

    Status of Subscription

    - (QIB) Qualified institutional buyers: 1.66x
    - (NII) Non-institutional buyers: 19.30x
    - (RII) Retail Individual buyers: 63.29x

     

    At 03:10 p.m.

    - This IPO has been subscribed 34.08x by 3:10 PM. on Day 2
    - It is a public issue of 71,40,793 equity shares.

    Status of Subscription

    - (QIB) Qualified institutional buyers: 1.48x
    - (NII) Non-institutional buyers: 16.90x
    - (RII) Retail Individual buyers: 59.80x

     

    At 02:30 p.m.

    - This IPO has been subscribed 30.27x by 2:30 PM. on Day 2
    - It is a public issue of 71,40,793 equity shares.

    Status of Subscription

    - (QIB) Qualified institutional buyers: 1.48x
    - (NII) Non-institutional buyers: 11.63x
    - (RII) Retail Individual buyers: 54.46x

     

    At 01:10 p.m.

    - This IPO has been subscribed 27.39x by 1:10 PM. on Day 2
    - It is a public issue of 71,40,793 equity shares.

    Status of Subscription

    - (QIB) Qualified institutional buyers: 0.04x
    - (NII) Non-institutional buyers: 9.41x
    - (RII) Retail Individual buyers: 50.49x

     

    At 11:40 a.m.

    - This IPO has been subscribed 23.27x by 11:40 AM. on Day 2
    - It is a public issue of 71,40,793 equity shares.

    Status of Subscription

    - (QIB) Qualified institutional buyers: 0.04x
    - (NII) Non-institutional buyers: 6.69x
    - (RII) Retail Individual buyers: 43.46x

     

    At 10:40 a.m.

    - This IPO has been subscribed 20.60x by 10:40 AM. on Day 2
    - It is a public issue of 71,40,793 equity shares.

    Status of Subscription

    - (QIB) Qualified institutional buyers: 0.01x
    - (NII) Non-institutional buyers: 5.23x
    - (RII) Retail Individual buyers: 38.78x

     

    At 05:00 p.m.

    - This IPO has been subscribed 16.55x by 4:00 PM. on Day 1
    - It is a public issue of 71,40,793 equity shares.

    Status of Subscription

    - (QIB) Qualified institutional buyers: 0.01x
    - (NII) Non-institutional buyers: 3.77x
    - (RII) Retail Individual buyers: 31.33x

     

    At 04:00 p.m.

    - This IPO has been subscribed 14.09x by 4:00 PM. on Day 1
    - It is a public issue of 71,40,793 equity shares.

    Status of Subscription

    - (QIB) Qualified institutional buyers: 0.00x
    - (NII) Non-institutional buyers: 2.40x
    - (RII) Retail Individual buyers: 27.03x

     

    At 03:00 p.m.

    - This IPO has been subscribed 11.43x by 3:00 PM. on Day 1
    - It is a public issue of 71,40,793 equity shares.

    Status of Subscription

    - (QIB) Qualified institutional buyers: 0.00x
    - (NII) Non-institutional buyers: 1.93x
    - (RII) Retail Individual buyers: 21.93x

     

    At 01:40 p.m.

    - This IPO has been subscribed 9.74x by 1:40 PM. on Day 1
    - It is a public issue of 71,40,793 equity shares.

    Status of Subscription

    - (QIB) Qualified institutional buyers: 0.00x
    - (NII) Non-institutional buyers: 1.49x
    - (RII) Retail Individual buyers: 18.75x

     

    At 12:40 p.m.

    - This IPO has been subscribed 7.33x by 12:40 PM. on Day 1
    - It is a public issue of 71,40,793 equity shares.

    Status of Subscription

    - (QIB) Qualified institutional buyers: 0.00x
    - (NII) Non-institutional buyers: 0.84x
    - (RII) Retail Individual buyers: 14.24x

     

    At 11:40 a.m.

    - This IPO has been subscribed 5.63x by 11:40 AM. on Day 1
    - It is a public issue of 71,40,793 equity shares.

    Status of Subscription

    - (QIB) Qualified institutional buyers: 0.00x
    - (NII) Non-institutional buyers: 0.60x
    - (RII) Retail Individual buyers: 10.96x

     

    At 10:40 a.m.

    - This IPO has been subscribed 3.11x by 10:40 AM. on Day 1
    - It is a public issue of 71,40,793 equity shares.

    Status of Subscription

    - (QIB) Qualified institutional buyers: 0.00x
    - (NII) Non-institutional buyers: 0.07x
    - (RII) Retail Individual buyers: 6.17x

     

    Why Should You Invest in Paras Defence and Space Technologies IPO?

    Paras Defence has been in the business as a speciality defence and space research components manufacturers for more than a decade. In this timeframe, the company has expanded its portfolio and now serves a long list of clients, including some big names such as ISRO, DRDO, Bharat Electronics, and many more. Here are some reasons why individuals should consider putting their money down for Paras Defence IPO:

    1. A look at the company’s book will reveal that it has been profitable in the past three fiscal years. Last year, its margins dropped, but not by much.
    2. Since the business is not confined to one product or segment, it diversifies the organisation's revenue streams. Hence, it can cater to a wider customer base.
    3. Paras Defence has also steadily strengthened its overall assets over the years.
    4. The clientele includes some of the industry leaders, and some of them are Government organisations.
    5. Paras Defence also houses a strong research and development division backed by modern infrastructure, which helps the company to keep innovating.

    Financial Highlights

    Financial Year Total Assets Total Revenue Total Expenses Profit After Tax
    March FY2020 – 2021 Rs. 3627.58 Rs. 1446.07 Rs. 1288.21 Rs. 157.86
    March FY2019 - 2020 Rs. 3423.86 Rs. 1490.51 Rs. 1272.59 Rs. 196.57
    March FY2018 - 2019 Rs. 3297.48 Rs. 1571.69 Rs. 1303.58 Rs. 189.70
    **Note: Amount is in millions

    How to apply for Paras Defence and Space Technologies IPO?

    You can apply for the Paras Defence and Space Technologies IPO in these ways:

    UPI
    Link your bank account to a reliable UPI ID and register it with your Angel One account. Proceed to book Paras Defence and Space Technologies IPO shares using the ID, confirm the payment on the UPI app, and block the amount for allotment.

    Demat Account

    1. If you are already a client of Angel One, apply directly for Paras Defence and Space Technologies IPO, click here.
    2. If you’re a new investor Open DEMAT Account for free with Angel One to begin your investment journey.

    Paras Defence and Space Technologies IPO – Noteworthy Highlights

    Paras Defence began its journey back in 2009, and after 12 years, it has successfully positioned itself as a name to recognise in India's space and defence sector. Here are some highlights of Paras Defence that you should know before investing –

    1. The company has two state-of-the-art manufacturing facilities in Navi Mumbai and Thane.

    2. Paras Defence is one of the few companies that can deliver customised projects associated with defence and space research.

    3. The client list of Paras Defence includes names like ISRO, DRDO, Bharat Electronics, Hindustan Aeronautics Limited, Godrej & Boyce, Tata Consultancy Services, Kirloskar Group, Electronics Corporation of India Limited, Bharat Dynamics Limited, and many more.

    Paras Defence and Space Technologies IPO - SWOT Analysis

    strengths

    Strengths

    • Diverse product portfolio and healthy client profiles: Paras Defence has a product portfolio spanning different segments, keeping the revenue ticking. Also, it has a client list that includes segment leaders and mainly exports to organisations in the USA, Israel, and Singapore.
    • Experience of the management and technical expertise: Paras Defence has the backing of an experienced management team and possesses the necessary technical know-how to curate the latest products.
    Weaknesses

    Weaknesses

    • Requirement of high working capital: Paras Defence operates in a segment that requires high working capital to survive and grow.
    Opportunities

    Opportunities

    • Part of a growing segment: India's space research and defence sector is picking up pace, which will serve Paras Defence well.
    Threats

    Threats

    • Lack of trained workforce: Space and defence research equipment manufacturing requires a highly skilled workforce, which is not always readily available in India.
    Strenghts Strengths
    Weaknesses Weaknesses
    Opportunities Opportunities
    Threats Threats

    Strengths

    • Diverse product portfolio and healthy client profiles: Paras Defence has a product portfolio spanning different segments, keeping the revenue ticking. Also, it has a client list that includes segment leaders and mainly exports to organisations in the USA, Israel, and Singapore.
    • Experience of the management and technical expertise: Paras Defence has the backing of an experienced management team and possesses the necessary technical know-how to curate the latest products.

    Weaknesses 

    • Requirement of high working capital: Paras Defence operates in a segment that requires high working capital to survive and grow.

    Opportunities 

    • Part of a growing segment: India's space research and defence sector is picking up pace, which will serve Paras Defence well.

    Threats 

    • Lack of trained workforce: Space and defence research equipment manufacturing requires a highly skilled workforce, which is not always readily available in India.

    Competitive Analysis: Market Peers

    Paras Defence does not have any notable competitor in the market currently.

    Paras Defence and Space Technologies IPO FAQs

    How to locate my UPI ID in an app?

    To find your UPI ID, visit the ‘profile’ section of a UPI app. To learn more about this process and how to access it in different apps, click here.

    I have accepted the IPO mandate request, but on the Angel One app, its status is still showing pending. What should I do now?

    UPI mandate request on the Angel One App does not provide real time updates. Nonetheless, in case your mandate is approved, it will be updated in the order book of an IPO after a while.

    How to generate a UPI ID?

    To create a UPI ID from using the BHIM app, you can follow the steps mentioned below –
    Step 1: Download the BHIM app on your smartphone
    Step 2: Verify your mobile number and register the password or PIN needed to open this app
    Step 3: Choose a bank from the approved list
    Step 4: This app will then get your bank account details automatically
    Step 5: In case you have more than one bank account, choose the one you want to register and link with BHIM
    Step 6: Set up a personal UPI ID for security reasons
    You can check your UPI ID afterwards in the ‘Profile’ section.

    Why can’t I find my UPI handle in the dropdown menu of Angel One app while applying for IPO?

    If you cannot find your UPI ID/handle in the dropdown menu of Angel One App, it means the NPCI does not approve the ID you are using currently. In that case, you can create a UPI ID with any financial institution present on the  NPCI list.

    Can I use a current account to apply for this Paras Defence IPO?

    No, banks do not process any application for a public offering made via current accounts. Therefore, it is better to apply using a savings account. You can contact your bank for further information.

    Is it possible to apply for Paras Defence IPO without using a UPI ID?

    Yes, it is possible to apply for this Paras Defence IPO using a UPI ID. In that case, you can use the ASBA process via your bank account or fill out a physical for this purpose. However, if you do not have a UPI ID, you can create one using the UPI handles mentioned in the NPCI list.

    What is the time duration inside which I need to approve a UPI mandate request?

    It is ideal to approve a UPI mandate request as soon as you receive it. However, this approval window stays open from the closing bell of an IPO to 12 pm on the following working day.

    What is the application process for the Paras Defence IPO using Angel One App?

    To apply for an IPO through Angel One App, you can follow the below-mentioned steps –
    Step 1: Go to the ‘investment opportunities’ section on Angel One App
    Step 2: Visit the ‘IPOs and FPOs’ option and enter the required information
    Step 3: Enter your NPCI approved UPI handle
    Step 4: Click on ‘invest’ and place your order for Paras Defence IPO

    Is it possible to submit more than one bid for Paras Defence IPO?

    No, you can only submit one against a single PAN as per the rules. The reason is, if you decide to apply via different platforms using the same PAN, you will not receive approval against your application, and you will fail to get an allotment for this IPO.

    Can I use a bank account that is not linked with the Angel One app to apply for IPO?

    Yes, you can apply for this Paras Defence IPO by using a bank account that is not linked with the Angel One App. However, the account must be in your name.

    What are the charges required for the Paras Defence IPO?

    Applying for this Paras Defence IPO via the Angel One platform does not entail any additional charges.

    Why can’t I apply for this Paras Defence IPO via any UPI ID/handle? 

    You can only use UPI handles approved by NPCI to apply for Paras Defence IPO. However, if you cannot apply for this public offering using your existing UPI ID, you can assess the list of banks or apps that have NPCI’s approval to provide UPI service to apply for Paras Defence IPO.

    Can I place a bid for the Paras Defence IPO without having a UPI ID?

    In case you don’t have a UPI ID, you can create one without any hassle by using any of the UPI handles mentioned in the NPCI list. Otherwise, you can use the ASBA process via your bank account or using a physical form to bid for this Paras Defence IPO.

    What is a cut-off price? Should I bid at this price?

    The cut-off price represents a price point at which shares of Paras Defence IPO will be listed. Cut-off price is determined during the allotment stage, and if you apply at this price, it means you are ready to bid at this particular price. Ideally, you can bid at this price to improve your chances of receiving an allotment.

    Can I use my minor daughter’s account to apply for the Paras Defence IPO?

    No, you cannot apply for the Paras Defence IPO via your minor daughter’s account. The Angel One App does not have such provisions where you can use your minor daughter’s account to place a bid for any public offering. On the other hand, a minor can apply using the ASBA process through a bank.

    Can NRIs apply for the Paras Defence IPO?

    No, NRIs cannot apply for this Paras Defence IPO via the Angel One App. But, they can use the ASBA (Application Supported By Blocked Amount) process through their respective banks.

    What is the expected time required to block or unblock the funds needed for an IPO subscription?

    As soon as you approve the UPI mandate request, your funds for Paras Defence IPO will get blocked. Nonetheless, these funds will be released in case you do not secure shares in an IPO allotment or if the UPI mandate expires. In case your funds are not unblocked even after these scenarios mentioned previously, contact your bank for clarification.

    I have placed a bid for the Paras Defence IPO, but the funds are not debited yet. What is the reason?

    A bank will not deduct any funds when you file an application for the Paras Defence IPO or any other public offering. They will only hold or freeze the due amount. After you receive the allotment, these funds will be released. However, if you do not receive the allotment or your UPI mandate request expires, these funds will be released.

    How to secure Paras Defence IPO allotment without fail?

    There is no way to guarantee an IPO allotment, irrespective of the public offering you are going ahead with. In the event of an oversubscription, which is most likely to happen, shares are allotted via a lottery system. A point to note here is that Angel One platform only allows you to apply for an IPO and does now guarantee any allotment. Nevertheless, you can increase your chances of approval by following some tips –
    ● Apply at the cut-off price
    ● Use a Demat account linked with your PAN
    ● Ensure that your bank account and UPI ID are linked through the same PAN, and failing to maintain that can lead to rejection. For instance, person X has applied for the Paras Defence IPO via his Demat Account but person Y’s UPI ID. In such cases, the application can get rejected due to –
    ● Person X’s Demat account is not linked with Y’s bank account Person Y’s UPI ID is not linked with X’s PAN

    Can I apply for Paras Defence IPO via my Hindu Undivided Family account?

    No, you cannot apply for any IPO using your Hindu Undivided Family account via Angel One platform. However, you can use this HUF account through the ASBA process via your bank for this purpose.

    What are the possible reasons for the rejection of my Paras Defence IPO application?

    Your Paras Defence IPO application can be rejected due to the following reasons –
    ● Entering a wrong UPI PIN or ID while approving the mandate
    ● Failing to ensure that your UPI ID, bank account and Demat account are linked with the same PAN
    For instance, you use your Demat account to apply for this public issue and use your friend’s UPI ID for payment. In that case, your application can get rejected due to –
    ● If your friend’s UPI ID and your PAN are not linked
    ● If your friend’s bank account is not linked with your Demat account

    How quickly can I receive the UPI mandate request after placing an order for Paras Defence IPO?

    Generally, it takes 15 to 20 minutes to receive a mandate request against your UPI after placing a bid for any public offering. Nonetheless, in some cases, there can be delays owing to different reasons.

    Can I change my bid for the Paras Defence IPO after applying for it?

    Yes, you can change the UPI ID and the lot size of your Paras Defence IPO even after placing your bid. However, bear in mind that it will count as a new bid once you approve the UPI mandate request and then modify your application. Hence, banks will block the required amount besides the actual bid. Moreover, you will also receive a fresh UPI mandate request for this new bid.

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