Paras Defence IPO opens today. Latest GMP, other details in 10 points

Market


Paras Defence IPO (initial public offering) is opening for subscription today and the book build issue will remain open for bidding till 23rd September 2021. The defence company aims to raise 170.78 crore from this public issue out of which 140.60 crore is targeted through fresh issue while 30.18 crore is aimed through OFS (Offer for Sale). Paras Defence IPO price band has been fixed at 165 to 175 per equity share and grey market seems highly bullish on the upcoming IPO. Paras Defence shares are available at a premium of 210 in the grey market today.

Here we list out 10 important details in regard to Paras Defence IPO:

1] Paras Defence IPO GMP: As per the market observers, Paras Defence IPO grey market premium (GMP) today is 210, which is 10 higher from its yesterday’s GMP of 200. Market observers are of the opinion that shares of Paras Defence have been trading above 150 ever since it became available for trade in the grey market. This reflects ‘highly bullish’ mood of the grey market, which may reflect in the subscription of the public issue when it becomes open for bidding.

2] Paras Defence IPO subscription date: The public issue is opening today i.e. 21st September 2021 and it will remain open for subscription till 23rd September 2021.

3] Paras Defence IPO price: The company promoters have fixed Paras Defence IPO price at 165 to 175.

4] Paras Defence IPO size: The defence company aims to raise 170.78 crore from its initial offer allocating 140.60 crore for fresh issues and 30.18 crore for OFS.

5] Paras Defence IPO lot size: Bidders will have to apply for the public issue in lots and one lot comprises 85 shares.

6] Paras Defence IPO investment limit: A bidder can apply for minimum 1 lot of the IPO and a single bidder is allowed to bid for maximum 13 lots. That means minimum investment limit in this defence issue is 14,875 ( 175 x 85) and maximum investment limit allowed for a single bidder in this IPO is 1,93,375 ( 175 x 85 x 13).

7] Paras Defence IPO allotment date: The tentative date for allotment of Paras Defence shares is 28th September 2021.

8] Paras Defence IPO listing: Shares of Paras Defence will be listed at both NSE (National Stock Exchange) and BSE (Bombay Stock Exchange).

9] Paras Defence IPO listing date: The tentative date for listing of Paras Defence shares is 1st October 2021.

10] Promoters’ holding post-listing: After successful listing of Paras Defence shares, promoters’ shareholding in the company will come down from existing 79.40 per cent to 59.71 per cent.

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