Mumbai: Paras Defense & Space Technologies, a company that IPO subscribes to more than 300 times to make a new record for the Indian capital market, registered on Friday and the price is almost three times the price of IPO RS 175.
In BSE, Stock is registered at RS 475, Rally and closed at Rs 499, which is also a high day for that.
Stellar listings also made the Paras defense one of the most successful offers since the last moment.
In the Friday session, more than 29 shares of Lakh companies changed hands, data from NSE and BSE showed.
The company now has a market value of almost Rs 1,950 Crore, BSE data shows.
On September 23, RS 171-Crore IPO from Mumbai-based Paras-based defense is covered with excess speeds of 304 times.
Offers for suppliers for the defense and space sectors in India and abroad are in ribbons in Rs 165 to RS 175 per share.
Part of the IPO provided for non-institutional investors subscribing to almost 928 times, the parts provided for retail investors subscribing to almost 113 times while the category of institutional investors subscribed to around 170 times.
Immediately after the IPO was closed, Astha Daga, Senior VP, Anand Rathi’s advisor, the main manager for the offer, told TII that the prospect of a very strong sector, coupled with the company’s unique position as one of the leading private sector suppliers to the State Defense.
& the space sector produces strong interest among investors.
The relatively simple IPO size also helps produce good investor interest, Daga said.
Paras Defense is almost three times the wealth of investors in listings
