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Paras Defence and Space Technologies informs about formation of associate company

17 May 2023 Evaluate

Pursuant to the Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, Paras Defence and Space Technologies has informed that the Board of Directors at their meeting held on Tuesday, May 16, 2023, have approved incorporation of an Associate Company with CONTROP Precision Technologies (‘CONTROP’) through a proposed Joint Venture Agreement. CONTROP is an Israeli Electro Optics (‘EO’) company, specializing in the development and production of EO/ Infrared (‘IR’) payloads for Land, Air and Naval applications all around the globe. The proposed Associate Company shall be engaged in the business of manufacturing EO/IR Systems for various applications in accordance with the Government of India’s Make in India initiative. Details required pursuant to Regulation 30 of the SEBI Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015 is attached as Annexure A.
The above information is a part of company’s filings submitted to BSE.

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811.10 34.05 (4.38%)
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