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- Paras Defense IPO Subscription Status Today Udpat; Total Issue Filled 304 Times
MumbaiOne hour agoAuthor: Ajit Singh
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Paras Defense’s IPO has broken all records. Paras Defense’s IPO total has closed by filling 304 times. Retail investors’ share is full 112 times. The share of Non Institutional Investor (NII) is filled 927 times. While the share of Qualified Institutional Buyers (QIBs) is filled 169 times. The allotment of shares will take place on September 28. The company’s shares will be listed on the exchange on October 1.
This happened for the first time in the history of IPO
This is the first time in the history of Indian IPO. Earlier, the record of highest subscription was in the name of Salasar Tech. In 2017, the IPO of this company was filled 273 times. However, till now there have been 4 companies that got more than 200 times response. In 2018, Apollo Micro got a response of 248 times, Astron Paper 241 times in 2017 and MTAR’s IPO got a response of 200 times in the same year. Last year Mrs. Bacter’s IPO was subscribed 198 times.
A company has given a loss
Looking at the performance of the IPO with such a huge subscription, everyone has benefited except Apollo Micro. Apollo Micro has given a loss of 57% to the investors. Its issue price was Rs 275 and today the stock is trading at Rs 116. Salasar Tech gave the maximum benefit. Its issue price was Rs 108 which is now at Rs 277. That is, investors have got a profit of 156%. MTAR has given a profit of 146%. Its issue price was Rs 575. Now this stock is trading at Rs 1,082. Astron Paper’s IPO has given a gain of 14%. The IPO of Capacit Infra has given a loss of 33%.
rocked from day one
Paras Defense is also the company that got the highest subscription on the first day in the history of IPO. Paras Defense got a response of 16.57 times on the first day. Earlier in 2008, the issue of Reliance Power got a response of 10.68 times. The issue of Paras Defense, which entered the market to raise Rs 170 crore, was filled 7 times in the very first hour. However, the issue was completely filled in the first 5 minutes of its opening.
Issue came at a price of Rs 165 to 175
The company had brought IPO at a price of Rs 165 to 175. The company’s IPO is quite expensive. It is coming in at a PE (Price to Earnings) of 42. That is, investors are paying Rs 42 for one rupee share. Also, its revenue and profit have decreased continuously in the last three years. Many brokerage houses have advised to stay away from this issue.
71.40 lakh shares issued
Paras Defense had issued a total of 71.40 lakh shares in the IPO. In return, it has received bids for 217.02 crore shares. That is, in lieu of Rs 170 crore, the company has got a bid for more than Rs 38 thousand crore. Before the opening of the IPO, fund houses of the country and other institutional investors had bid fiercely among the anchor investors. For anchor investors, the company had issued 29.27 lakh shares at a price of Rs 175.