The proposed company—tentatively named Paras Heven Advanced Drones Private Limited—will be incorporated with an authorised capital of ₹1 lakh. Paras Defence will hold a majority 51% stake, while Heven Drones will own the remaining 49%.
The JV aligns with the Government of India’s ‘Make in India’ initiative and is expected to strengthen India’s domestic drone manufacturing capabilities. Both companies will have equal board representation with two directors each and pre-emptive rights in any future share issuance.
Paras Defence clarified that it does not hold any existing stake in Heven Drones or its affiliates and that the agreement does not constitute a related party transaction.
Also Read: Paras Defence promoters pare stake after stock rallies 63% in a month
Following the announcement, shares of Paras Defence recovered some ground but were still trading down 0.74% at ₹1,605.20 on the BSE at 3:20 PM.
