Bharat Dynamics To Raise Around Rs 960 Cr From IPO

Defence public sector company Bharat Dynamics today said it has fixed the price band between Rs 413 and Rs 428 per equity share for its initial public offer (IPO) to raise around Rs 960 crore.

The issue will open on March 13 and close on March 15.

The government will sell a total of 22,451,953 shares of Bharat Dynamics, diluting its stake by about 12 per cent.

SBI Capital Markets, IDBI Capital Markets and Securities and Yes Securities will manage the public issue.

Bharat Dynamics is engaged in the manufacture of surface-to-air missiles (SAMs), anti-tank guided missiles (ATGMs), underwater weapon launchers, counter measures and test equipment for the defence sector.

“We primarily cater to the requirements of the Indian armed forces. Our objective is to enhance our market position by expanding our capabilities, capitalising on opportunities both in domestic and international markets. Read More…

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