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Paras Defence and Space Tech IPO oversubscribed by a record 304 times

Mint  

The initial public offering (IPO) of Paras Defence and Space Technologies Ltd garnered massive interest from investors on the last of the offer on Thursday, recording a total subscription of 304.26 times, the highest ever seen for any main board IPO in India. The portion of the Paras Defence share sale reserved for institutional investors was subscribed 169.65 times, while the portions reserved for high net worth individuals and retail investors were subscribed 927.7 times and 112.81 times, respectively. The INR 171 crore share sale comprised a fresh issuance of shares aggregating up to INR 140.6 crore and an offer for sale of up to 17,24,490 shares by existing shareholders. The company had priced its shares in a range of INR 165-175 apiece.