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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Purchase of machinery and equipment
Proceeds will be used to fund capital expenditure on machinery and equipment.
Funding incremental working capital requirements
A portion of proceeds will be used to support the company's growing working capital needs.
Repayment of borrowings
Proceeds will be used to repay or prepay a portion of the company's outstanding borrowings.
General corporate purposes
The remaining proceeds are earmarked for general corporate purposes.
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(₹ in Crore)
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Paras Defence and Space Technologies Limited is an Indian private-sector company engaged in designing, developing, manufacturing and testing a range of defence and space engineering products and solutions. Its business spans five areas: defence and space optics, defence electronics, heavy engineering, electromagnetic pulse protection solutions and other niche technologies, and it has been positioned as one of the few Indian companies with design capability for space optics and opto-mechanical assemblies. The company operates two manufacturing facilities in Maharashtra, at Nerul in Navi Mumbai and Ambernath in Thane, with the Nerul facility housing an advanced precision machining centre for producing high-quality optics and ultra-precision components. It counts Indian defence and space programs among its key end customers. The company is promoted by Sharad Virji Shah and Munjal Sharad Shah, and used part of its fresh issue proceeds to fund capital expenditure, working capital and debt repayment, positioning itself for continued growth in India's expanding defence indigenisation and space sector programs.
Ahead of the IPO, the company raised approximately Rs 51.23 crore from anchor investors at the issue price, with participation from institutional investors including Ashoka India Equity Investment Trust, Abakkus Emerging Opportunities Fund, Saint Capital Fund, Nippon India Mutual Fund and HDFC Mutual Fund.
Source: RHP • Analysis provided for informational purposes
Last Updated: 21 July 2026, 5:30 AM
Niche capability in space optics
The company is one of a very small number of Indian companies with design capability for space optics and opto-mechanical assemblies, giving it a differentiated position in defence and space supply chains.
Established defence program relationships
The company is a long-standing supplier of optics and related systems to Indian defence and space programs, benefiting from deep customer relationships built over time.
Diversified defence-technology portfolio
Operations span optics, electronics, heavy engineering and electromagnetic pulse protection, reducing reliance on any single product line.
Inconsistent financial performance
Revenue and profit showed a declining and uneven trend across the years leading up to the IPO, reflecting the lumpy, order-driven nature of the defence engineering business.
Customer concentration in government programs
A significant share of revenue depends on Indian government and defence-related contracts, exposing the business to procurement cycles and budget allocation risk.
Execution and technology risk
Precision optics and defence electronics manufacturing require continued technical capability and quality control, and any execution shortfall could affect customer relationships.
Paras Defence and Space Technologies Limited
Company contact details are not available.
MUFG Intime India Private Limited
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