Paras Defence and Space Technologies Limited — Proxy Solicitation & Information Statement 2022

Mar 31, 2022

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: business@parasdefence.com |Web : www. parasdefence.com

March 31, 2022

Dalal Street, - Bandra — Kurla Complex,

BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot C/1, G Block, Fort, Mumbai — 400 001 Bandra — (East), Mumbai — 400 051

Scrip Code: 543367 Trading Symbol: PARAS

Dear Sirs,

Sub.: Postal Ballot Notice - Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations")

In terms of Regulation 30 of the SEBI Listing Regulations, we enclose a copy of postal ballot notice seeking the approval of members by way of a special resolution.

In compliance with Ministry of Corporate Affairs Circular No. 14/2020 dated April 8, 2020, No. 17/2020 dated April 13, 2020, No.22/2020 dated June 15, 2020, No. 33/2020 dated September 28, 2020, No. 39/2020 dated December 31, 2020, No. 10/2021 dated June 23, 2021 and No. 20/2021 dated December 8, 2021, this postal ballot notice is being sent only through electronic mode to those members whose e-mail addresses are registered with the Company/Depositories and whose names are recorded in the Register of Members of the Company or in the Register of Beneficial Owners: maintained by the Depositories as on the Cut-off date:i.e. Friday, March 25, 2022 ("Cut-off date").

The Company has engaged the services of Link Intime India Private Limited ("LIIPL") to provide remote e-voting facility to its Members. The remote e-voting period commences from 9:00 a.m. (IST) on Monday, April 4, 2022 and ends at 5:00 p.m. (IST) on Tuesday, May 3, 2022. The e-voting module shall be disabled by LIIPL thereafter. Voting rights of the Members shall be in proportion to the shares held by them in the paid-up equity share capital of the Company as on Cut-off date. Communication of assent or dissent of the Members would only take place through the remote evoting system. :

Members who have not registered their e-mail address are requested to register/update their email address, in respect of electronic holdings with the Depository through the concerned Depository Participants and in respect of physical holdings with Link Intime India Private Limited (LIIPL) by following due procedure as stated in the notice of Postal Ballot.

The Notice along with the explanatory statement is available on the website of the Company ie. www.parasdefence.com, on the website of 'Link Intime India Private Limited, the Company's Registrar and Transfer Agent i.e. https://instavote.linkintime.co.in and on the websites of National Stock Exchange of India Limited (www.nseindia.com) and BSE Limited (www.bseindia.com).

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: business@parasdefence.com | Web : www.parasdefence.com

We request you to take the above on record and disseminate the same on your website.

Thanking You.

Encl.: As stated above

PARAS DEFENCE & SPACE TECHNOLOGIES LIMITED

Corporate & Registred Address

D/112, TTC Indl. Area, Nerul, Navi Mumbai- 400706, India | Tel.: +91-22-2762 9900 / 2762 9999, Fax : +91-22-2762 9990 CIN # U29253MH2009PLC193352 | E-mail: business@parasdefence.com | Web: www.parasdefence.com

POSTAL BALLOT NOTICE

[Notice pursuant to Section 110 of the Companies Act, 2013, read with Rule 22(1) of the Companies (Management and Administration) Rules, 2014]

Dear Member(s),

Notice is hereby given to the Members of PARAS DEFENCE AND SPACE TECHNOLOGIES LIMITED (the 'Company'), pursuant to Section 108 and Section 110 of the Companies Act, 2013 ('the Act') read with Rule 20 and Rule 22 of Companies (Management and Administration) Rules, 2014, as amended ('Management Rules') read with the Circular No. 14/2020 dated April 8, 2020, Circular No. 17/2020 dated April 13, 2020, Circular No. 22/2020 dated June 15, 2020, Circular No. 33/2020 dated September 28, 2020, Circular No. 39/2020 dated December 31, 2020, Circular No. 10/2021 dated June 23, 2021 and Circular No. 20/2021 dated December 08, 2021 issued by the Ministry of Corporate Affairs ("MCA") (hereinafter collectively referred to as "MCA Circulars"), and Regulation 44 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and other applicable provisions of the Act, rules, circulars and notifications issued thereunder (including any statutory modifications or re-enactment thereof for the time being in force and as amended from time to time), that the Resolutions as set out in this Notice are proposed for consideration by the Members of the Company for passing by means of Postal Ballot by voting through electronic means ('remote e-voting'). Communication of assent or dissent of the Members would take place only through the remote e-voting system.

In compliance with the aforesaid MCA Circulars, this Postal Ballot Notice is being sent only through electronic mode to those Members whose e-mail addresses are registered with the Company/Depositories. If your e-mail address is not registered with the Company/Depositories, please follow the process provided in the Notes to receive this Postal Ballot Notice.

ITEM OF SPECIAL BUSINESS REQUIRING CONSENT OF SHAREHOLDERS THROUGH POSTAL BALLOT:

RESOLUTION NO. 1: VARIATION IN TERMS OF OBJECTS OF THE ISSUE:

To consider and, if thought fit, to give assent or dissent to the following resolution as a Special Resolution:

"RESOLVED THAT pursuant to the provisions of Sections 13 and 27 of the Companies Act, 2013, as amended ("Companies Act"), read with the Companies (Incorporation) Rules, 2014 and the Companies (Prospectus and Allotment of Securities) Rules, 2014 (including any statutory modifications or reenactments thereof), Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, and the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements), 2018, as amended, and other applicable rules, regulations, guidelines and other statutory provisions for the time being in force, if any, and such other approvals, permissions and sanctions, as may be necessary, the approval of members of the Company be and is hereby accorded to utilize the unutilized amount aggregating to Rs. 332.40 million ("Unutilized Proceeds"), comprising the balance remaining after utilization of the proceeds of the fresh issue portion ("Fresh Issue Proceeds") towards the object of purchasing of machinery and equipment as stated in the prospectus dated September 25, 2021 (the "Prospectus") of the Company registered with the Registrar of Companies, Mumbai, Maharashtra, in relation to the initial public offering ("Offer") of equity shares of Rs. 10 each of the Company, proposed to be completed by Fiscal 2022; and accordingly, the Company will complete the purchase during Fiscal 2023, instead of Fiscal 2022, as was stated in the Prospectus.

RESOLVED FURTHER THAT the Board of Directors or any committee of the Board thereof, be and are hereby authorized to utilize the said funds for the purchase of machinery and equipment which may be both new and upgraded (imported / indigenous) machineries as and when required by the Company from the registered vendors during the Fiscal Year 2023, at the discretion of the Board.

RESOLVED FURTHER THAT for the purpose of giving effect to this resolution, the Board of Directors be and is hereby authorized to do all such acts, deeds, matters and things, take necessary steps as the Board may in its absolute discretion deem necessary, desirable or expedient and to settle any question that may arise in this regard and incidental thereto, without being required to seek any further consent or approval of the members or otherwise to the end and intent that the members shall be deemed to have given their approval and ratification thereto expressly by the authority of this resolution."

By Order of the Board of Directors For Paras Defence and Space Technologies Limited

Sdi-

Ajit K. Sharma Company Secretary & Compliance Officer

Date : 31.03.2022 Place : Navi Mumbai

Registered Office: D- 112, TTC Industrial Area, MIDC, Nerul, Navi Mumbai — 400706

NOTES:

• On account of threat posed by COVID-19 pandemic situation and in compliance with the MCA circulars, the Notice is being sent in electronic form only. The hard copy of the Notice along with Postal Ballot Form and pre-paid business envelope will not be sent to the Members for this Postal Ballot, in accordance with the MCA Circulars and also the Company will not be under any obligation to provide physical copies upon specific request of any member(s). Accordingly, the communication of the assent or dissent of the Members would take place through the remote e-voting system only.
• The related Explanatory Statement pursuant to Section 102 of the Act, stating all material facts and the reasons for the proposal set out above is annexed hereto.
• The Postal Ballot Notice is being sent to all the Members, whose names appear in the Register of Members/ List of beneficial owners, received from National Securities Depository Limited ('NSDL') and Central Depository Services India Limited ('CDSL') as on close of the business hours on Friday, 25" March, 2022 ('cut-off date') and who have registered their email addresses with the Company or RTA or with the Depositories/ Depository Participants.

Members who have not registered their e-mail address are requested to register/update their email address, in respect of electronic holdings with the Depository through the concerned Depository Participants and in respect of physical holdings with Link Intime India Private Limited (LIIPL) by following due procedure.

Likewise, the Members whose names appear as on the cut-off date will be considered for the purpose of voting and those who are not the Members on the said date shall treat this Notice for information purpose only. It is however, clarified that all the persons who are members of the Company as on the cut-off date (including those members who may not have received this Notice due to non-registration of their email ID with the Company or the Depositories/Depository Participants) shall be entitled to vote in relation to the resolution specified in this Notice.

• In compliance with the provisions of Section 108 and 110 of the Act read with rules made thereunder and Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company is pleased to provide to its Members, a facility to exercise their right to vote by electronic means through e-voting. The Company has appointed LIIPL as agency in respect of e-voting for the Postal Ballot.
• The e-voting period begins on Monday, 04" April, 2022 at 9.00 a.m. (IST) and will end on Tuesday, 03% May, 2022 at 5.00 p.m. (IST). During this period Members of the Company, holding shares either in physical form or in dematerialised form, as on cut-off date i.e. Friday, 25" March, 2022, may cast their vote electronically in the manner and process as set out hereinbelow. The e-voting module shall be disabled by LIIPL for voting thereafter. Once the vote on a resolution is cast by the Member, the Member shall not be allowed to change it subsequently.
• The voting rights of Members shall be in proportion to their share of the paid-up equity share capital of the Company as on cut-off date.
• A Member cannot exercise his/her/its vote by proxy on Postal Ballot.
• A Member need not use all his/her/its votes nor does he/she/it need to cast all his/her/its votes in the same way.
• All the material documents referred to in the accompanying Notice are open for electronic inspection by the Members of the Company upto the closure of the remote e-voting period. Members seeking to inspect such documents can send an email to cs@parasdefence.com.
• 1. Resolution passed by the Members through Postal Ballot is deemed to have been passed as if the same has been passed at a general meeting of the Members.
• 1. The resolution, if approved, shall be deemed to have been passed on the last date of e-voting, i.e. Tuesday, 03% May, 2022.
• 1. The Scrutinizer's decision on the validity of e-voting shall be final and binding.
• 1. Please mention your 16-digit Demat Account no. or Folio No., as the case may be, in all your communication with the Company or the RTA.
• 1. The manner of voting remotely by members holding shares in dematerialized mode, physical mode and for members who have not registered their email address is provided in the instructions given below.

15. Remote e-Voting Instructions for shareholders:

As per the SEBI circular dated December 9, 2020, individual shareholders holding securities in demat mode can register directly with the depository or will have the option of accessing various ESP portals directly from their demat accounts.

Login method for Individual shareholders holding securities in demat mode is_ given below:

1. Individual Shareholders holding securities in demat mode with NSDL:

• 1. Existing IDeAS user can visit the e-Services website of NSDL viz... https://eservices.nsdl.com either on a personal computer or on a mobile. On the e-Services home page click on the "Beneficial Owner" icon under "Login" which is available under 'IDeAS' section, this will prompt you to enter your existing User ID and Password. After successful authentication, you will be able to see e-Voting services under Value added services. Click on "Access to e-Voting" under e-Voting services and you will be able to see e-Voting page. Click on company name or e-Voting service provider name i.e. LINKINTIME and you will be redirected to "InstaVote" website for casting your vote during the remote e-Voting period.
• If you are not' registered for IDeAS e-Services, option to register is available at https://eservices.nsdl.com Select "Register Online for IDeAS Portal" or click at https://eservices.nsdl.com/SecureWeb/IdeasDirectReg.jsp
• Visit the e-Voting website of NSDL. Open web browser by typing the following URL: https://eservices.nsdl.com either on a personal computer or on a mobile. Once the home page of e-Voting system is launched, click on the icon "Login" which is available under 'Shareholder/Member' section. A new screen will open. You will have to enter your User ID (i.e. your sixteen-digit demat account number hold with NSDL), Password/OTP and a Verification Code as shown on the screen. After successful authentication, you will be redirected to NSDL Depository site wherein you can see e-Voting page. Click on company name or e-Voting service provider name i.e. LINKINTIME and you will be redirected to "InstaVote" website for casting your vote during the remote e-Voting period.

2. Individual Shareholders holding securities in demat mode with CDSL:

• 1. Existing users who have opted for Easi / Easiest, can login through their user id and password. Option will be made available to reach e-Voting page without any further authentication. The URL for users to login to Easi / Easiest are https:/Aweb.cdslindia.com/myeasi/nome/login or www.cdslindia.ccom and click on New System Myeasi.
• After successful login of Easi/Easiest the user will be able to see the E Voting Menu. The Menu will have links of e-Voting service provider i.e. LINKINTIME. Click on LINKINTIME and you will be redirected to "InstaVote" website for casting your vote during the remote e-Voting period.
• lf the user is not registered for CEasi/Easiest, option to register is available at https://web.cdslindia.com/myeasi/Registration/EasiRegistration.
• Alternatively, the user can directly access e-Voting page by providing demat account number and PAN No. from a link in www.cdslindia.com home page. The system will authenticate the user by sending OTP on registered Mobile & Email as recorded in the demat Account. After successful authentication, user will be provided links for the respective ESP i.e. LINKINTIME. Click on LINKINTIME and you will be redirected to "InstaVote" website for casting your vote during the remote e-Voting period.

3. Individual Shareholders (holding securities in demat mode) login through their depository participants:

You can also login using the login credentials of your demat account through your Depository Participant registered with NSDL/CDSL for e-Voting facility. Upon logging in, you will be able to see e-Voting option. Click on e-Voting option, you will be redirected to NSDL/CDSL Depository site after successful authentication, wherein you can see e-Voting feature. Click on company name or e-Voting service provider name i.e. LINKINTIME and you will be redirected to "InstaVote" website for casting your vote during the remote e-Voting period.

Login method for Individual shareholders holding securities in physical form is given below:

Individual Shareholders of the company, holding shares in physical form as on the cut-off date for e-voting may register for e-Voting facility of Link Intime as under:

• 1. Open the internet browser and launch the URL: https://instavote.linkintime.co.in
• 1. Click on "Sign Up" under 'SHARE HOLDER' tab and register with your following details: -

A. User ID: Shareholders holding shares in physical form shall provide Event No + Folio Number registered with the Company.

B. PAN: Enter your 10-digit Permanent Account Number (PAN) (Shareholders who have not updated their PAN with the Depository Participant (DP)/ Company shall use the sequence number provided to you, if applicable.

C. DOB/DOI: Enter the Date of Birth (DOB) / Date of Incorporation (DOI) (As recorded with your DP / Company - in DD/MM/YYYY format)

D. Bank Account Number: Enter your Bank Account Number (last four digits), as recorded with your DP/Company.

*Shareholders/ members holding shares in physical form but have not recorded 'C' and 'D', shall provide their Folio number in 'D' above

Set the password of your choice (The password should contain minimum 8 characters, at least one special Character (@!#\$&"*), at least one numeral, at least one alphabet and at least one capital letter). > Click "confirm" (Your password is now generated).

• 1. Click on 'Login' under 'SHARE HOLDER' tab.
• 1. Enter your User ID, Password and Image Verification (CAPTCHA) Code and click on 'Submit'.

Cast your vote electronically:

• 1. After successful login, you will be able to see the notification for e-voting. Select 'View' icon.
• 1. E-voting page will appear.
• 1. Refer the Resolution description and cast your vote by selecting your desired option 'Favour / Against' (If you wish to view the entire Resolution details, click on the 'View Resolution' file link).
• 1. After selecting the desired option i.e. Favour / Against, click on 'Submit'. A confirmation box will be displayed. If you wish to confirm your vote, click on 'Yes', else to change your vote, click on 'No' and accordingly modify your vote.

Guidelines for Institutional shareholders:

Institutional shareholders (i.e. other than Individuals, HUF, NRI etc.) and Custodians are required to log on the evoting system of LIIPL at https://instavote.linkintime.co.in and register themselves as 'Custodian / Mutual Fund / Corporate Body'. They are also required to upload a scanned certified true copy of the board resolution /authority letter/oower of attorney etc. together with attested specimen signature of the duly authorised representative(s) in PDF format in the 'Custodian / Mutual Fund / Corporate Body' login for the Scrutinizer to verify the same. request at enotices@linkintime.co.in or contact on: - Tel: 022 — 4918 6000.

Helpdesk for Individual Shareholders holding securities in physical mode/ Institutional shareholders:

Shareholders facing any technical issue in login may contact Link Intime INSTAVOTE helpdesk by sending a

Helpdesk for Individual Shareholders holding securities in demat mode:

Individual Shareholders holding securities in demat mode may contact the respective helpdesk for any technical issues related to login through Depository i.e. NSDL and CDSL.

Login type	Helpdesk details
Individual Shareholders	Members facing any technical issue in login can contact NSDL helpdesk by
	holding securities in demat sending a request at evoting@nsdl.co.in or call at toll free no.: 1800 1020 990
mode with NSDL	and 1800 22 44 30

Individual Shareholders
holding securities in demat
mode with CDSL

Individual Shareholders Members facing any technical issue in login can contact CDSL helpdesk by holding securities in demat | sending a request at helpdesk.evoting@cdslindia.com or contact at 022 mode with CDSL 23058738 or 22- 23058542-43.

Individual Shareholders holding securities in Physical mode has forgotten the password:

If an Individual Shareholders holding securities in Physical mode has forgotten the USER ID [Login ID] or Password or both then the shareholder can use the "Forgot Password" option available on the e-Voting website of Link Intime: httos://instavote.linkintime.co.in

0 Click on 'Login' under 'SHARE HOLDER' tab and further Click 'forgot password?'

o Enter User ID, select Mode and Enter Image Verification code (CAPTCHA). Click on "SUBMIT".

In case shareholders is having valid email address, Password will be sent to his / her registered e-mail address. Shareholders can set the password of his/her choice by providing the information about the particulars of the Security Question and Answer, PAN, DOB/DOI, Bank Account Number (last four digits) etc. as mentioned above. The password should contain minimum 8 characters, at least one special character (@!#\$&*), at least one numeral, at least one alphabet and at least one capital letter.

User ID for Shareholders holding shares in Physical Form (i.e. Share Certificate); Your User ID is Event No + Folio Number registered with the Company

Individual Shareholders holding securities in demat mode with NSDL/ CDSL has forgotten the password:

Shareholders who are unable to retrieve User ID/ Password are advised to use Forget User ID and Forget Password option available at abovementioned depository/ depository participants website.

• » It is strongly recommended not to share your password with any other person and take utmost care to keep your password confidential.
• » For shareholders/ members holding shares in physical form, the details can be used only for voting on the resolutions contained in this Notice.
• » During the voting period, shareholders/ members can login any number of time till they have voted on the resolution(s) for a particular "Event".

EXPLANATORY STATEMENT PURSUANT TO SECTION 102 AND 110 OF THE COMPANIES ACT, 2013:

Item No. 1:

Pursuant to the Prospectus dated September 25, 2021, the Offer comprised of 97,58,776 equity shares of face value of = 10 each ("equity shares") for cash at a price of = 175 per equity share (including a share premium of = 165 per equity share) ("offer price") aggregating to = 1,707.78 million ("offer') comprising of a fresh issue of 80,34,286 equity shares aggregating to = 1,406.00 million ("fresh issue") and an offer for sale of 17,24,490 equity shares aggregating to = 301.78 million ("offer for sale") by certain existing shareholders. schedule

EXPLANATORY STATEMENT PURSUANT TO SECTION 102 AND 110 OF THE COMPANIES ACT, 2013: The following Explanatory Statement pursuant to Section 102 and 110 of the Companies Act, 2013 ("Act") sets out all material facts relating to the special business(es) mentioned at Item Nos. 1 of the accompanying Notice of Postal ballot. Item No. 1: The Company filed its prospectus dated September 25, 2021 Mumbai, Maharashtra, in connection with its initial public offering ("Offer") of its equity shares of Rs. 10 each ("Equity Shares") and the Equity Shares are presently listed on the BSE Limited and the National Stock Exchange of India Limited (together, the "Stock Exchanges"). Pursuant to the Prospectus dated September 25, 2021, the Offer comprised of 97,58,776 equity shares of face value of = 10 each ("equity shares") for cash at a price of = 175 per equity share (including a share premium of = 165 per equity share) ("offer price") aggregating to = 1,707.78 million ("offer') comprising of a fresh issue of 80,34,286 equity shares aggregating to = 1,406.00 million ("fresh issue") and an offer for sale of 17,24,490 equity shares aggregating to = 301.78 million ("offer for sale") by certain existing shareholders. The members are hereby informed that as set forth in the Prospectus of the Company dated September 25, 2021, the Company had earmarked a sum of Rs. 346.57 million towards the object 'Purchase of machinery and equipment'. The Company raised an aggregate of Rs. 1,406 million utilization of the Net Proceeds of the Offer was proposed to be deployed in the following manner, as set forth under the of deployment as disclosed in the Prospectus: schedule Particulars	("Prospectus") with the Registrar of Companies, (including offer expenses) pursuant to the Fresh Issue. The Amount to be		Amounts in millions Estimated deployment
	funded from the Net Proceeds	Fiscal 2022	Fiscal 2023
Purchase of machinery and equipment	346.57	346.57
Funding requirements incremental working capital our of Company	600.00	240.00	360.00
Repayment or prepayment of all or a portion of certain borrowings/outstanding loan facilities availed by our Company	120.00	120.00
General corporate purposes	177.90	177.90
			360.00
Total (Net of Issue Expenses) Out of the above mentioned objects of the issue, and as stated in the implementation schedule of the prospectus dated September 25, 2021, the Company has till date utilized Rs. 240 million towards funding the incremental working capital 120 million towards repayment of borrowings availed and requirements, Rs.	1,244.47 Rs.	884.47 177.90	million towards General

our Company; and any other business and commercial considerations the proposed utilization shall be shifted to the subsequent year/s. Accordingly, it is proposed to utilize/deploy the unspent amount of Rs. 332.40 million in the subsequent Fiscal year 2023. The detailed revised list of the machineries for which orders have been placed and received, orders yet to be placed and machineries those for which orders will not be placed out of the total unspent amount has been approved by the Board of Directors and the remaining unspent amount lying with the Company shall be used in accordance with the monitoring agency agreement with the liberty to the Board of Directors or any committee of the Board thereof, to utilize the said funds for the purchase of machinery and equipment which may be both new and upgraded (imported / indigenous) machineries as and when required by the Company from the registered vendors within the Fiscal Year 2023, at the discretion of the Board. The detailed revised list of machineries shall be made available for inspection at the registered office of the Company during the normal business hours on working days upto the date of the declaration of postal ballot results.

both	new and upgraded	machineries as and when (imported / indigenous) registered vendors within the Fiscal Year 2023, at the discretion of the Board. The detailed revised list of machineries shall be made available for inspection at the registered office of the Company during the normal business hours on working days upto the date of the declaration of postal ballot results. Proposed time schedule within which the proposed delay in implementation of the objects would be achieved:	required		by the Company from the Amounts in millions
Particulars		Amount to be Deployment Schedule
			funded from the Net	Utilisation Estimated Fiscal in	utilisation § in
			Proceeds	2022	Fiscal 2023
	Purchase of machinery and equipment		346.57	14.17	332.40
		Funding incremental working capital requirements of our Company	600.00	240.00	360.00
	Repayment or prepayment of all or a portion of certain		120.00	120.00		-
	General corporate purposes	borrowings/outstanding loan facilities availed by our Company	177.90	177.90		-
Total			1,244.47	552.07	692.40
		Clause-wise details as specified under Rule 3(3) of the Companies (Prospectus and Allotment of Securities) Rules, 2014 with respect to the originally proposed objects of the Offer:
	Requirement	Disclosure in the Prospectus
(i)	The objects of the} Offer	The objects for which the Net Proceeds (as defined below) of the Initial Public Offer will be utilized are as set forth below.
		Purchase of machinery and equipment 1.
Sr. No.		Funding incremental working capital requirements of our Company 2.
		Repayment or prepayment of all or a portion of certain 3. borrowings/outstanding loan facilities availed
		by our Company

				Amounts in millions
Particulars			Amount to be funded from		Deployment Schedule Utilisation Estimated
			the Net Proceeds	Fiscal in 2022	utilisation § in Fiscal 2023
	Purchase of machinery and equipment		346.57	14.17	332.40
		Funding incremental working capital requirements of our Company	600.00	240.00	360.00
	Repayment or prepayment of all or a portion of certain	borrowings/outstanding loan facilities availed by our Company	120.00	120.00	-
	General corporate purposes		177.90	177.90	-
Sr. No. (i)	Requirement The objects of the}	Rules, 2014 with respect to the originally proposed objects of the Offer: Disclosure in the Prospectus The objects for which the Net Proceeds (as defined below) of the Initial Public
	Offer	Offer will be utilized are as set forth below.
		Purchase of machinery and equipment 1.
		Funding incremental working capital requirements of our Company 2.
		Repayment or prepayment of all or a portion of certain 3. borrowings/outstanding loan facilities availed
		by our Company
		General corporate purposes 4. proposed Proposed Schedule of Implementation and Deployment of Funds:
	schedule project	of We propose to deploy the Net Proceeds for the aforesaid purposes in accordance implementation of the with the estimated schedule of implementation and deployment of funds set out below. Amounts in millions Amount to be Estimated deployment
		Particulars
			funded from the Proceeds	Fiscal Net } 2022	Fiscal 2023
		Purchase machinery § and of equipment	346.57	346.57	-
		Funding incremental working requirements capital of Company	600.00 our	240.00	360.00
		Repayment or prepayment of all or a portion of certain borrowings / outstanding loan facilities availed by our Company	120.00	120.00	-
		General corporate purposes	177.90	177.90	-
		Total (Net of Issue Expenses)	1,244.47	884.47	360.00
	The interim use of]	amount The remaining unspent accordance with the monitoring agency agreement with the liberty to the Board of	with the lying	Company shall	used be in Directors or any committee of the Board thereof, to utilize the said funds for the

Accordingly, approval of the members is sought for delaying the implementation of the terms of objects of the issue referred to in the Prospectus. The Board recommends the passing of resolution as set out under Item No. 1 for approval of the members as a special resolution.

None of the Directors or Key Managerial Personnel of the Company including their relatives is, in any way, concerned or interested, financially or otherwise, in the proposed resolution except to the extent of their shareholding in the Company, if any.

By Order of the Board of Directors For Paras Defence and Space Technologies Limited

Sdi-

Ajit K. Sharma Company Secretary & Compliance Officer

Date : 31.03.2022 Place : Navi Mumbai

Registered Office:

D- 112, TTC Industrial Area, MIDC, Nerul, Navi Mumbai — 400706