Paras Defence Signed MoU with Israel’s Heven Drones to Launch Indian Drone Manufacturing Venture

Paras Defence and Space Technologies Ltd has entered into a strategic joint venture with Israeli firm Heven Drones Ltd to establish a new subsidiary in India, focused on designing and manufacturing logistics and cargo drones for both defence and commercial sectors.

Scope of New Entity

The new entity, provisionally named Paras Heven Advanced Drones Private Limited, will be set up with an initial authorised capital of ₹1 lakh. Under the terms of the agreement, Paras Defence will hold a majority stake of 51%, while Heven Drones will retain the remaining 49%.

This collaboration is in line with the Indian government's 'Make in India' initiative, aiming to bolster indigenous drone production capabilities and reduce reliance on foreign technology. The joint venture will feature balanced governance, with each partner appointing two directors to the board and securing pre-emptive rights in the event of future equity issuance.

Paras Defence emphasised that it currently has no equity interest in Heven Drones or its associated entities, and the joint venture does not qualify as a related party transaction under regulatory definitions.

Also Read: Best Drone Stocks in India in May 2025: Zen Tech, RattanIndia, HAL and More – 5Yr CAGR Basis

Paras Defence Share Price Movement

Following the announcement, Paras Defence shares showed a partial rebound and closed the trading session on May 23 with a gain of 1.23% to ₹1,637.10.

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