Paras Defence & Space Technologies IPO Lists at 168% Premium

5paisa Research Team 5paisa Research Team 10th December 2022 - 09:12 am

Paras Defence & Space Technologies had a bumper listing on 01st October as it listed at a premium of 168%; much better than what the GMP had indicated. Paras Defence & Space Technologies listed at a premium of 168% and traded through the day in a range of Rs.40. The stock closed the day, well above the listing price. With overall subscription of 304.26X, listing response was in line with the robust subscription and the GMP indications. Here is the Paras Defence & Space Technologies listing story on 01st October.

The IPO price was fixed at the upper end of the band at Rs.175 after the 304.26X subscription. The price band for the IPO was Rs.165 to Rs.175. On 01st Oct, the stock of Paras Defence & Space Technologies listed on the NSE at a price of Rs.469, a premium of 168% over the issue price. On the BSE, the stock listed at a price of Rs.475, a listing premium of 171.43%.

On the NSE, Paras Defence & Space Technologies closed on 24-Sep at a price of Rs.492.45, a first day closing premium of 181.4% over the issue price. On the BSE, the stock closed at Rs.498.75, a first day closing premium of 185% over the issue price. On both the exchanges, the stock of Paras Defence managed to hold and marginally build on its listing premium quite effectively.

Check:- Paras Defence and Space Technologies Ltd IPO

On Day-1 of listing, Paras Defence & Space Technologies touched a high of Rs.492.45 on the NSE and a low of Rs.460. It closed exactly at the high price. On Day-1 of listing, the Paras Defence & Space Technologies stock traded a total of 21.32 lakh shares on NSE amounting to value of Rs.102.06 crore. Being a small issue, the total trading volumes on the first day were not as substantial as the other recent IPO listings.

On the BSE, Paras Defence & Space Technologies touched a high of Rs.498.75 and a low of Rs.456. On BSE, the stock traded a total of 7.57 lakh shares amounting to value of Rs.37.31 crore. Like on the NSE, even the volumes on the BSE were much lower than normal due to the small size of the issue.

At the close of Day-1 of listing, Paras Defence & Space Technologies had a market capitalization of Rs.1,945 crore with free-float market cap of just Rs.350 crore.