Paras Defence and Space Technologies Limited has announced that its Management Committee, in a meeting held on October 1, 2024, approved key details regarding the company’s Qualified Institutions Placement (QIP) of equity shares. The company has set the floor price for the QIP at ₹1096.35 per equity share, in line with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (SEBI ICDR Regulations). The board has also authorized the opening of the proposed issue of equity shares to eligible qualified institutional buyers (QIBs).
The board had received prior approval from shareholders via a special resolution passed on September 20, 2024. Additionally, the company may offer a discount of up to 5% on the floor price at its discretion.
The meeting commenced at 6:45 PM and concluded at 7:15 PM. The company also confirmed that the trading window for dealing in the company’s securities has been closed from October 1, 2024, until 48 hours after the declaration of the unaudited financial results for the quarter ending September 30, 2024.
