Bharat Dynamics slips 14% as government's stake sale via OFS begins

Shares of Bharat Dynamics slipped 14 per cent to Rs 333 on the BSE on Tuesday as the government's 15 per cent stake sale in the company via offer for sale (OFS) route opened for non-retail investors today. The floor price for the OFS has been fixed at Rs 330 per share, a 14 per cent discount to Monday’s closing price of Rs 385.

The government is planning to sell 15 per cent stake in the defence company today (September 8), and tomorrow. The Centre, through President of India, owns 87.75 per cent stake in the company and is