Paras Defence delays Ayatti divestment to March 2026

Paras Defence and Space Technologies Limited has provided an update on the proposed divestment of its 58.02% equity stake in subsidiary Ayatti Innovative Private Limited ("Ayatti"). The company holds 1,520,000 equity shares of Ayatti, each with a face value of ₹10. The transaction, initially expected to conclude by December 31, 2025, is now projected to be completed by March 31, 2026, contingent on the finalisation of due diligence by prospective buyers.

The due diligence process is currently underway, and the company will notify stock exchanges upon the execution of the final agreement and receipt of consideration. Post-completion, Ayatti Innovative Private Limited will cease to be a subsidiary of Paras Defence.

As of March 31, 2024, Ayatti's net worth was Rs. (25,537,000), and its contribution to Paras Defence's consolidated turnover in FY 23-24 was NIL. The consideration amount for the divestment has not yet been finalised, as it is dependent on the due diligence process. The prospective buyers are not affiliated with Paras Defence's promoter or promoter group.