Paras Defence nearly triples investors’ wealth on listing

Paras Defence & Space Technologies, the company whose IPO was subscribed over 300 times to create a new record for India’s capital market, was listed on Friday and the price went up nearly three times its IPO price of Rs 175. On the BSE, the stock was listed at Rs 475, rallied and closed at Rs 499, which was also the day’s high for it. The stellar listing also made Paras Defence as one of the most successful offers in recent times.

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