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Paras Defence and Space Technologies Limited has announced a board meeting focusing on the divestment of its entire 100% equity stake in Paras Green UAV Private Limited to M/s Euro Asia Exports Limited for a total consideration of Rs. 10 lakh. This decision means Paras Green will no longer be a wholly owned subsidiary after the transaction’s expected completion by March 31, 2025. While Paras Green contributed nil to the consolidated turnover in FY 23-24 and had a negative net worth, this divestment could streamline operations. Investors might view this as a neutral impact, anticipating a sharper focus on core business activities.
All announcements from Paras Defence and Space Technologies Limited