Paras Defence and Space Technologies Limited which had tapped the capital markets with its fresh issue for Rs 140.6 crs and an offer for sale of 17,24,490 equity shares in a price band of Rs 165-175 received massive response and was subscribed a record 304.26 times. Earlier the company had completed allocation to anchor investors yesterday by allotting 29,27,485 equity shares at Rs 175 to five anchor investors.

The highest allocation was made to Ashoka India of 10,00,025 shares or 34.16% of the anchor allocation. This was followed by 6,65,805 shares or 22.74% of the anchor book to Abakkus Emerging Opportunities Fund. The remaining allocation was made to Nippon Life, HDFC Mutual Fund and Saint Capital Fund.

The issue saw QIB portion being subscribed 169.65 times, HNI portion was subscribed 927.70 and Retail portion was subscribed 112.81 time. Overall, the issue was subscribed 304.26 times. In terms of number of lots the retail portion of the issue was subscribed 89.98 times and average lot size per application was 1.31 lots or 111 shares against the lot size of 85 shares.

The issue at the top end of the band would have raised Rs 170.78 crs. It actually received subscription worth Rs 38,071 crs including anchor portion. This oversubscription has set a new record for issue subscription in the last 13-14 years. Clearly shows that retail investor frenzy is at its height. The issue had opened on Tuesday the 21st of September and closed on Thursday the 23rd of September.

Full details of the subscription category wise are given below: –