Shares of Paras Defense and Space Technologies made a great start in the stock market on Friday. Paras Defense stock opened at Rs 469 on NSE, at a premium of 168 per cent over the offer price of Rs 175. The listing price of Paras Defense and Space Technologies stock was up 171 per cent at Rs 475 on the BSE. .
The Initial Public Offering of Paras Defense and Space Technologies received an overwhelming response from the investors. Paras Defense and Space Technologies IPO got subscribed 304.26 times. The public issue of Rs 171 crore received bids of 217.26 crore shares against the total issue size of over 71.40 lakh shares. The price band of Paras Defense IPO was fixed at Rs 165-175 per share.
Paras Defense and Space Technologies Limited is a leading ‘Indigenously Developed and Manufactured’ (IDDM) category Indian private sector company engaged in the design, development, manufacturing and testing of a wide range of Defense and Space Engineering products and solutions. Is. The valuation of the IPO on FY21 PAT basis at a P/E multiple of Rs 165-175 per share at a price band of 34x. “Pars Defense and Space Technologies has a wide range of products and solutions for both defense and space applications. Paras Defense Limited is one of the few players in manufacturing high precision optics for space and defense applications in India, having strong R&D capabilities with a focus on innovation and benefiting from the government’s Atmanirbhar Bharat and “Make in India” initiatives Well positioned for lifting. Also the company’s strong order book gives good revenue visibility going forward,” Hem Securities had earlier said in a note.
Paras Defense & Space Technologies offers five major categories of product- Defense & Space Optics, Defense Electronics, EMP Security, Heavy Engineering for Defense and Specialized Technologies. Its defense and space optics operations include manufacturing of high precision optics for defense and space applications such as thermal imaging and space imaging systems. It is one of the leading providers of optics for various Indian defense and space programmes, and the only Indian company with design capability for space-optics and optomechanical assemblies.
The company’s current order book stood at ₹3,049.92 million as on June 30, 2021. The consolidated total income for the financial years ended March 31, 2021, March 31, 2020 and March 31, 2019 stood at ₹ 1,446.07 million, ₹ 1,490.51 million and ₹ 1,571.69 million. The consolidated profit after tax for the financial years ended March 31, 2021, March 31, 2020 and March 2019 stood at ₹157.86 million, ₹196.57 million and ₹189.70 million, respectively.
It has a diverse client base that ranges from government organizations involved in government arms and defense and space research to various defense public sector undertakings such as Bharat Dynamics Ltd., Bharat Electronics Ltd. and Hindustan Aeronautics Ltd. to various private entities such as Tata Consultancy Services. , Astra-Raphael Comsys Pvt. Ltd., Solar Industries India Ltd., Alpha Design Technologies Pvt. Ltd., etc. The company also serves international customers including Advanced Mechanical and Optical Systems (AMOS), Belgium, Chaban (Israel), Tae Young Optics Co. Ltd. (South Korea) and Green. Optics (South Korea).
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