Paras Defence Acquires 49% Stake in Himanshi Thermal

Paras Defence and Space Technologies Limited has completed the acquisition of a 49% equity stake in Himanshi Thermal Solutions Private Limited on February 19, 2026. 

The shares were acquired from DefSpace Technologies Private Limited through a cash transaction. Following this acquisition, Himanshi Thermal has become an associate company of Paras Defence under the provisions of the Companies Act, 2013.

Details of the Target Entity

Himanshi Thermal Solutions Private Limited has an authorised share capital of ₹5 lakh, divided into 50,000 equity shares of ₹10 each, and a paid-up share capital of ₹1 lakh comprising 10,000 equity shares. Paras Defence acquired 4,900 equity shares at a face value of ₹10 each, aggregating to ₹49,000, resulting in a 49% shareholding. 

The company reported nil turnover in FY 2024–25 and FY 2023–24, while it recorded a turnover of ₹2.16 lakh in FY 2022–23. The firm has reported losses over the past three financial years.

Strategic Rationale and Industry Focus

The acquisition falls under related party transactions, as the shares were acquired from DefSpace, a related party of Paras Defence. However, there is no promoter or promoter group interest in Himanshi Thermal beyond shareholding. 

Himanshi Thermal operates in the aerospace and defence engineering segment and is engaged in manufacturing fabricated metal products, liquid cold plates for space and airborne applications, and providing vacuum heat treatment services. 

Incorporated on March 7, 2022, the company caters to high-technology and aerospace sectors requiring precision-engineered thermal management solutions.

Paras Defence Share Price Performance

On February 20, 2026, Paras Defence share price (NSE: PARAS) opened at ₹632.60, up from its previous close of ₹630.25. At 10:56 AM, the share price of Paras Defence was trading at ₹646.15, up by 2.52% on the NSE.

Also Read: Paras Defence Q3 FY26 Earnings Results: Net Profit up by 21.7% YoY!

Conclusion

The acquisition of Himanshi Thermal aligns with Paras Defence’s long-term strategy to expand its capabilities in aerospace and defence engineering. While Himanshi Thermal is currently a small and loss-making entity, the partnership is expected to create new growth avenues and strengthen group-level technological expertise over time.

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