Paras Defence and Space Technologies Limited (PARAS) has successfully finalized the acquisition of a 49% equity stake in Himanshi Thermal Solutions Private Limited (“Himanshi Thermal”). The shares were purchased from DefSpace Technologies Private Limited. Consequently, Himanshi Thermal has now become an Associate Company of PARAS as of February 19, 2026. This strategic move aligns with PARAS’s objective for expansion, creating new business avenues in high-technology sectors.
Completion of Strategic Acquisition
Paras Defence and Space Technologies Limited (PARAS) announced the successful completion of the acquisition of 49% of the equity share capital in Himanshi Thermal Solutions Private Limited (“Himanshi Thermal”). This transaction was executed with DefSpace Technologies Private Limited (“DefSpace”) on February 19, 2026. As a direct result of this purchase, Himanshi Thermal is now classified as an Associate Company of PARAS under the provisions of the Companies Act, 2013.
Transaction Details and Consideration
The acquisition was structured as a Cash consideration. PARAS acquired 4,900 Equity Shares of Himanshi Thermal, each having a face value of Rs. 10/-. The total cost of acquisition amounted to Rs. 49,000/- (Forty-Nine Thousand Only). It should be noted that this acquisition of an equity stake falls within the definition of a Related Party Transaction, as the shares were bought from DefSpace, a related party of PARAS.
Target Entity Profile
Himanshi Thermal Solutions Private Limited is engaged in the business of manufacturing fabricated metal products, specializing in liquid cold plates for space and airborne applications, and providing vacuum heat treatment services. The company caters to industries requiring precision-engineered metal components and thermal management solutions, focusing on aerospace and high-technology sectors.
Himanshi Thermal was incorporated on March 07, 2022. The brief history of its turnover (in Rupees) for the preceding three financial years is as follows:
- FY 22-23: Turnover of Rs. 2,15,740; PBT of Rs. -28,06,637.
- FY 23-24: Turnover was NIL; PBT was Rs. -16,29,332.
- FY 24-25: Turnover was NIL; PBT was Rs. -8,88,700.
The Authorized Share Capital of Himanshi Thermal is currently Rs. 5,00,000/-, divided into 50,000 Equity Shares. The Paid-up Share Capital stands at Rs. 1,00,000/-, represented by 10,000 Equity Shares.
Strategic Rationale
The acquisition aligns directly with PARAS’s overarching strategic objective of expansion. Management expects this structured arrangement to foster mutual benefits, generating new growth avenues and business opportunities at the group level through a mutually advantageous partnership.
Source: BSE
