Paras Defence and Space Technologies Ltd has released a Monitoring Agency Report for the quarter ended December 31, 2023, stating the utilization of net proceeds from the Initial Public Offer (IPO). The report shows that as of December 31, 2023, the company has utilized Rs. 14.35 million for the stated objectives, while Rs. 63.04 million is still to be utilized and there is a deviation in the object clause of Purchase of Machinery and Equipment which is approved by shareholders.