Corporate News     20-Aug-22
Board of Paras Defence approves acquisition of majority stake in Ayatti Innovative
At meeting held on 20 August 2022
The Board of Paras Defence and Space Technologies has approved investment by way of subscription to the equity shares in one or more tranches up to a sum of Rs. 7 crore to be offered by M/s. Ayatti Innovative(hereinafter referred as ‘AIPL') at a price to be determined in accordance with the relevant provision of Companies Act, 2013 and Income Tax Act, 1961. Pursuant to this acquisition, the Company shall be holding approximately 58% stake in the total equity share capital of AIPL, thus resulting AIPL to be the subsidiary company of the Company.

AIPL is currently engaged in the business of manufacturing of structural metal products mainly for Railway Coaches and has application in other sectors also. This facility shall addon value to the Heavy Engineering Division of PARAS for its defence and space products.

Previous News
  Paras Defence to execute order of Rs 293 cr for Larsen & Toubro
 ( Corporate News - 30-Sep-24   11:30 )
  Paras Defence receives affirmation in credit ratings from CRISIL
 ( Corporate News - 11-Sep-24   11:33 )
  Paras Defence & Space Techs. schedules AGM
 ( Corporate News - 30-Aug-24   16:27 )
  Paras Defence rises as board OKs raising Rs 200 cr via QIP issue
 ( Hot Pursuit - 27-Aug-24   15:47 )
  Board of Paras Defence and Space Technologies to consider fund raising
 ( Corporate News - 22-Aug-24   14:12 )
  Paras Defence & Space Techs. to hold board meeting
 ( Corporate News - 22-Aug-24   12:27 )
  Paras Defence arm gets Rs 305-cr order from L&T
 ( Hot Pursuit - 16-Aug-24   08:58 )
  Paras Defence and Space Technologies consolidated net profit rises 147.09% in the June 2024 quarter
 ( Results - Announcements 05-Aug-24   15:42 )
  Paras Defence spurts as Q1 PAT zooms to Rs 15 cr
 ( Hot Pursuit - 05-Aug-24   15:06 )
  Paras Defence & Space Techs. to declare Quarterly Result
 ( Corporate News - 29-Jul-24   14:08 )
  Paras Defence and Space Technologies Ltd leads gainers in 'A' group
 ( Hot Pursuit - 18-Jun-24   12:00 )
Other Stories
  GAIL (India) signs MoU with AM Green
  04-Oct-24   19:27
  EaseMyTrip.com resumes bookings to the Maldives
  04-Oct-24   19:25
  BLS completes acquisition of Dubai-based Citizenship Invest
  04-Oct-24   19:23
  Insecticides India launches new maize herbicide 'Torry Super'
  04-Oct-24   19:21
  Landmark Cars receives LoI from Mercedes-Benz India
  04-Oct-24   19:19
  Astra Microwave Products receives affirmation in credit ratings from CRISIL
  04-Oct-24   19:16
  Supreme Petrochem receives affirmation in credit ratings
  04-Oct-24   19:10
  Astec LifeSciences director resigns
  04-Oct-24   19:08
  Board of Gravita India approves change in directorate
  04-Oct-24   19:05
  Board of Gravita India approves fund raising up to Rs 1,000 cr
  04-Oct-24   19:03
Back Top