Paras Defence focuses on defence and area optics, defence electronic devices and heavy engineeringParas Defence and Space Technologies' going public (IPO) will open for subscription on September 21.
The Mumbai-based defence company's IPO will comprise a fresh concern of shares worth Rs 140.60 crore and an offer for sale of up to 1.72 million shares by promoters and existing investors.
The general public concern will close on September 16 and the shares are most likely to be noted on the BSE and NSE on October 1.
Retail financiers can apply for a minimum one lot size of 20 shares and in multiples thereof, as much as 13 lots.
The business will make use of the IPO proceeds to buy machinery and equipment, fund incremental working capital requirements and for general corporate purposes.Paras Defence focuses on defence and space optics, defence electronic devices and heavy engineering.
It deals with defence public sector undertakings such as Bharat Electronic Devices, Bharat Characteristics and Hindustan Aeronautics, and customers in Belgium, Israel and South Korea.
The company's making systems are located in Navi Mumbai and Thane.