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What is the story about?
Paras Semiconductors Pvt. Ltd., a subsidiary of Paras Defence And Space Technologies Ltd. has signed an Memorandum of Understanding (MoU) to set up a new greenfield advanced IC packaging Outsourced Semiconductor Assembly and Test (OSAT) facility in Madhya Pradesh.
In an exchange filing on Wednesday, July 22, the management of Paras Defence said that it signed the MoU with the Department of Science and Technology, who was acting on behalf of the Madhya Pradesh State Electronics Development Corporation (MPSeDC).
As per the MoU, the greenfield facility will be a collaboration between Paras Defence and MPSeDC, who will integrate their respective expertise and resources to collaboratively facilitate the establishment of this unit.
The proposed facility will undertake advanced packaging operations, including 3D heterogeneous integration, 2.5D/3D advanced packaging, hybrid bonding, ultra-high-density, fan-out packaging, chiplet integration, wafer bumping, flip-chip assembly, testing and reliability.
Paras Defence will be spending close to ₹6,200 crore through the course of setting up a facility in Madhya Pradesh, he filing stated. Paras Defence has a market capitalization of close to ₹10,000 crore.
The company is yet to disclose the date as for the declaration of its first quarter results for the current financial year.
In an interaction with CNBC-TV18 on July 10, the management of Paras Defence had highlighted that it is involved in every part of the imagery systems value chain and is also working on the interceptor drone opportunity.
The company is also trying to build systems to adapt to the ever changing requirements of defence applications.
Paras Defence is also looking for opportunities to partner with global companies to increase their reliance in defence technologies, but clarified that it is not looking at any form of inorganic growth currently.
The stock was in focus earlier this month when the Defence Acquisition Council had approved AoNs worth ₹52,000 crore for the Army, Navy and Air Force.
It had signed an IP license agreement with Tandem Defence LLC, based in Geortia for Guardians Interceptor Technology. The Guardian-1 interceptor is a high-speed, battery-powered counter-drone system designed to combat low-cost aerial threats.
Through the agreement, Paras gets an exclusive license to use the Licensed IP within India for manufacturing and commercializing products in India. The contract will be valued for a 12-month period.
Shares of Paras Defence and Space Technologies are trading 1.2% lower on Wednesday at ₹1,208.3. The stock is down 12% over the last one month, but has gained nearly 80% so far this year.
In an exchange filing on Wednesday, July 22, the management of Paras Defence said that it signed the MoU with the Department of Science and Technology, who was acting on behalf of the Madhya Pradesh State Electronics Development Corporation (MPSeDC).
As per the MoU, the greenfield facility will be a collaboration between Paras Defence and MPSeDC, who will integrate their respective expertise and resources to collaboratively facilitate the establishment of this unit.
The proposed facility will undertake advanced packaging operations, including 3D heterogeneous integration, 2.5D/3D advanced packaging, hybrid bonding, ultra-high-density, fan-out packaging, chiplet integration, wafer bumping, flip-chip assembly, testing and reliability.
Paras Defence will be spending close to ₹6,200 crore through the course of setting up a facility in Madhya Pradesh, he filing stated. Paras Defence has a market capitalization of close to ₹10,000 crore.
The company is yet to disclose the date as for the declaration of its first quarter results for the current financial year.
In an interaction with CNBC-TV18 on July 10, the management of Paras Defence had highlighted that it is involved in every part of the imagery systems value chain and is also working on the interceptor drone opportunity.
The company is also trying to build systems to adapt to the ever changing requirements of defence applications.
Paras Defence is also looking for opportunities to partner with global companies to increase their reliance in defence technologies, but clarified that it is not looking at any form of inorganic growth currently.
The stock was in focus earlier this month when the Defence Acquisition Council had approved AoNs worth ₹52,000 crore for the Army, Navy and Air Force.
It had signed an IP license agreement with Tandem Defence LLC, based in Geortia for Guardians Interceptor Technology. The Guardian-1 interceptor is a high-speed, battery-powered counter-drone system designed to combat low-cost aerial threats.
Through the agreement, Paras gets an exclusive license to use the Licensed IP within India for manufacturing and commercializing products in India. The contract will be valued for a 12-month period.
Shares of Paras Defence and Space Technologies are trading 1.2% lower on Wednesday at ₹1,208.3. The stock is down 12% over the last one month, but has gained nearly 80% so far this year.
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