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Bharat Dynamics IPO subscribed 46% on second day of bidding

Press Trust of India  |  New Delhi 

The initial public offer of defence company was subscribed 46 per cent on the second day of bidding today.

The IPO to raise Rs 960 crore received bids for 1,02,44,255 shares against the total issue size of 2,24,51,953 shares, data available with the NSE till 1730 hrs showed.

The category reserved for qualified institutional buyers (QIBs) was subscribed 50 per cent, non institutional investors 8 per cent and 57 per cent.

The IPO is of up to 22,451,953 equity shares and is scheduled to close tomorrow.

The price band for the offer has been fixed at Rs 413-428.

SBI Capital Markets, Markets & Securities and are managing the offer.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, March 14 2018. 21:25 IST