 "Bharat Dynamics' Rs 9.6-billion IPO subscribed 47% a day before close")
The Rs 9.6-billion initial public offering (IPO) of state-run Bharat Dynamics was subscribed 47 per cent on Wednesday, a day before its close.
The offering had received bids for 10.2 million shares as against 22.5 million shares on offer. Bharat Dynamics’ IPO is entirely an offer for sale by the government.
The centre is selling 12 per cent stake through the IPO.
Hyderabad-based Bharat Dynamics is a manufacturer of defense equipment.
The price band for the IPO is Rs413 to Rs 428 per share.
The centre is offering a discount of Rs 10 per share to retail investors applying in the IPO.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%