PARAS DEFENCE & SPACE TECHNOLOGIES LIMITED

Corporate & Registered Office:

D-112, TTC Indl. Area, Nerul, Navi Mumbai - 400706, India | Tel: +91-22-6919 9999 | Fax: +91-22-6919 9990 CIN # U29253MH2009PLC193352 | E-mail : [email protected] | Web : www.parasdefence.com

October 18, 2021

BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street. Fort, Mumbai - 400 001

National Stock Exchange of India Limited Exchange Plaza, Plot C/1, G Block, Bandra - Kurla Complex. Bandra - (East), Mumbai - 400 051

Scrip Code: 543367

Dear Sir's.

Sub: Intimation under Reg. 30 of SEBI (LODR) Regulations, 2015 on proposed formation of an Associate Company

Trading Symbol: PARAS

Pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, we would like to inform that the Board of Directors at their meeting held today (i.e. October 18, 2021). have approved incorporation of an Associate Company in association with Krasny Defence Technologies Limited, who is a prominent player in the field of defence equipment maintenance and wholesome refits of Indian Naval and Indian Coast Guard Ships (ICGS). The proposed associate company shall be engaged in the field of maintenance, servicing and repairs of defence equipments and naval vessels.

The details required under regulation 30 of SEBI (LODR) Regulations, 2015 read with SEBI circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015, is enclosed herewith as Annexure -1.

The meeting concluded at 10:20 a.m.

Kindly take the note of the same on your record. You are requested to kindly disseminate the above information on your respective websites.

Kindly take the above information on record and acknowledge the receipt.

Thanking You.

For Paras Defence and Space Technologies Limited

Company Secretary and Compliance Officer

Encl: as stated

PARAS DEFENCE & SPACE TECHNOLOGIES LIMITED

Corporate & Registered Office:

D-112, TTC Indl. Area, Nerul, Navi Mumbai - 400706, India | Tel: +91-22-6919 9999 | Fax: +91-22-6919 9990 CIN # U29253MH2009PLC193352 | E-mail: [email protected] | Web: www.parasdefence.com

Annexure - I

SI.	Particulars
No.		Details
1.	Name of the target entity, details in brief as size, turnover etc.	Proposed Name is Paras Krasny Defence Technologies Limited / Krasny Paras Defence Technologies Limited / or such other name which will be approved by the Central Registration Centre (CRC) of the Ministry of Corporate Affairs. The Proposed Authorized Share
		capital is Rs. 10,00,000/- (Rupees Ten Lakhs)
2.	Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at "arm's length"	The Company is proposing to form an Associate Company and the entity after incorporation, shall be a related party of the Company. Promoters of the Company are interested in the formation of Associate Company to the extent of their shareholding in the Company.
3.	Industry to which the entity being acquired belongs	Defence
4.	Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity)	The proposed associate company shall be engaged in the field of maintenance, servicing and repairs of defence equipments and naval vessels.
5.	details Brief of governmental any or regulatory the approval for required acquisition	Incorporation of the entity is subject to the approval of the MCA and such other statutory authorities
6.	Indicative time period for completion of the acquisition	Entity shall be incorporated on receipt of requisite approvals from various statutory authorities
7.	consideration Nature of whether cash consideration or share swap and details of the same	Securities shall be subscribed for cash
8.	Cost of acquisition or the price at which the shares are acquired	Securities shall be subscribed at face acquired value
9.	Percentage of shareholding / contracapuired and/ or number of shares acquired E Bharmel	47.50% shall be subscribed by the Company and 47.50% shall be subscribed Krasny Defence by Technologies Limited
	Para + 031