Bharat Dynamics lists on bourses at share value of Rs 370

State-owned defence manufacturer got listed on the bourses on Friday at a discount of 13.50 per cent. The scrip got listed at Rs 370 on the against an issue price of Rs 428.

Last week, the defence equipment manufacturer had opened an Initial Public Offering (IPO) of its shares. The Rs 960 crore IPO was oversubscribed 1.30 times. The company had offered. The company had offered 2,24,51,953 equity shares for sale at a price band of Rs 413-Rs 428 per share. It had reserved a portion of 4,58,203 equity shares for allotment to eligible employees.

The IPO was a part of the disinvestment programme of the government and was an offer for sale (OFS). Hence, the company did not receive any proceeds form the IPO.

At 10.13 am, the scrip was trading at Rs 397.95 on the NSE, up 7.50 per cent from the listing price.
Get latest news & live updates on the go on your pc with . Download The for your device. in English and other languages.