Paras Defence And Space Technologies Limited has informed the Exchange about the signing of a Memorandum of Understanding (MoU) with Hevendrones Ltd., Israel.
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Paras Defence has signed an MoU with Israeli company Hevendrones Ltd. on May 5, 2025, with the intent to form a Joint Venture in India. The JV will focus on developing and manufacturing logistics and cargo drones for both defence and civil markets, in line with the Government of India's Make in India initiative. The partnership aims to expand both companies' presence in the Indian and global defence sectors. Further details of the JV agreement and investment will be disclosed separately as per SEBI listing regulations.
This is a positive strategic development for Paras Defence, giving it access to Israeli drone technology and expanding its product portfolio into the fast-growing drone segment. Short-term stock reaction may be mildly positive, but actual impact depends on the final JV terms, investment size, and execution.