Paras Defence and Space Technologies Ltd Divests Entire Stake in Subsidiary Ayatti Innovative Private Limited

Paras Defence and Space Technologies Ltd (PARAS) has divested its entire 58.02% equity stake held in its subsidiary, Ayatti Innovative Private Limited. The divestment comprises 15,20,000 (Fifteen Lakh Twenty Thousand) equity shares of face value of Rs. 10/- each. Consequently, Ayatti has ceased to be a subsidiary of PARAS. The transaction does not fall within Related Party Transaction. The total consideration of Rs. 6,99,20,000/- (Rupees Six Crores Ninety Nine Lakhs Twenty Thousand Only) has been received by PARAS. The buyer, Unifab Ultra Technologies LLP, does not belong to the Promoter/ Promoter group/Group companies.