Big News for Paras Defence.

Paras Defence just made a major move — it has teamed up with Israel’s Heven Drones to build cargo drones in India. A new joint venture (JV) company will be set up in India. Paras Defence will own 51% of it — so they’re in the driver’s seat. These drones will be used for both defence and civilian purposes. This JV supports the Indian government’s ‘Make in India’ initiative, meaning more cutting-edge tech made right here in India. Each company will send 2 directors to the board. Both have the first right if new shares are issued — keeping the control tight. Earlier this month, on May 5, they had signed a MoU (agreement) to work together. Now it's official — the deal is happening. Paras Defence shares rose 2% after the news, bouncing back from earlier losses. Why this matters: • Drones are the future of logistics and defence. • A JV with a global player like Heven Drones brings tech + trust. • It opens doors for both domestic and international markets. With rising interest in defence (thanks to ops like Operation Sindoor), defence companies are getting a lot of attention. In short: Paras Defence + Heven Drones = Big leap for India’s drone game.