Paras Defence & Space Technologies IPO Subscription Day 3

Paras Defence & Space Technologies IPO Subscription Day - 3

IPO
by 5paisa Research Team Last Updated: Oct 30, 2021, 12:15 PM IST

The Rs.170.78 crore IPO of Paras Defence & Space Technologies consists of a fresh issue of Rs.140.60 crore and an offer for sale or OFS of Rs.30.18 crore. The issue was fully subscribed on Day-1 itself and by the end of Day-3 it was heavily oversubscribed. As per the combined bid details put out by the BSE, Paras Defence & Space Technologies IPO was subscribed 304.26X overall at the close of Day-3 of the IPO. The bulk of the demand came from the HNI segment followed by QIBs and retail. The issue closed on Thursday, 23rd September.

Check: Paras Defence & Space Technologies IPO Subscription Day-2

As of close of 23rd September, out of the 71.41 lakh shares on offer in the IPO, Paras Defence & Space Technologies saw bids for 21,726.32 lakh shares. This implies an overall subscription of 304.26X. The granular break-up of subscriptions saw all the 3 segments robust at the close of Day-3. QIB bids surged on the last day of the IPO.

Paras Defence & Space Technologies IPO Subscription Day - 3
 

Category

Subscription Status

Qualified Institutional Buyers (QIB)

169.65 Times

Non Institutional Investors (NII)

927.70 Times

Retail Individuals

112.81 Times

Employees

N.A.

Overall

304.26 times

 

QIB Portion

The QIB subscription was subscribed 169.65 times at the close of Day-3. On 20 September, Paras Defence & Space Technologies did an anchor placement of 29.275 lakh shares at the upper end of the price band of Rs.175, raising Rs.51.23 crore. The list of QIB investors including a number of marquee names like Ashoka India Equity, Abakkus Emerging Opportunities Fund, Saint Capital, Nippon India Fund and HDFC Mutual Fund.

The QIB portion (net of anchor allocation) has a quota of 20.18 lakh shares of which it has got bids for 3,423.38 lakh shares, implying a subscription ratio of 169.65X for QIBs at the close of Day - 3. QIB bids, as usual, got bunched on the last day but the net impact was still positive.

HNI Portion

The HNI portion got subscribed 927.70X (getting applications for 14,257.44 lakh shares against the quota of 15.37 lakh shares). This issue saw robust response from Day-1 and this phenomenal response could be due to the small size of the IPO. Bulk of the funded applications and corporate applications came in on the last day.

Retail Individuals

The retail portion was subscribed a whopping 112.81X at the close of Day-3, showing strong retail appetite. For retail investors; out of the 35.86 lakh shares on offer, valid bids were received for 4,045.49 lakh shares, including bids for 3,066.90 lakh shares at the cut-off price. The IPO is priced in the band of (Rs.165-Rs175) and has closed on 23rd September.

Also Read:-

Paras Defence IPO - 7 things to know

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