Don't want to miss the best from Business Standard?
(Reuters) - Shares of India's state-run guided weapon systems maker Bharat Dynamics Ltd were trading down 8 percent on their market debut after an initial public offering worth 9.60 billion rupees ($147.5 million).
Shares fell as much as 15 percent in early trade, before recovering some of the losses. The stock was trading at 394 rupees at 0431 GMT, compared with their IPO price of 428 rupees.
The IPO was subscribed 1.3 times on the last day of the sale earlier this month.
($1 = 65.1000 Indian rupees)
(Reporting by Tanvi Mehta in Bengaluru; Editing by Amrutha Gayathri)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
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