As on 30 June 2020, the Government of India held 87.75% stake in the company. The OFS opened on Tuesday (8 September) for non-retail investors, while both retail as well as non-retail investors will be able to subscribe on Wednesday (9 September). Bharat Dynamics Ltd IPO. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. Comprehensive up-to-date news coverage about "bharat dynamics share price", aggregated from sources all over the world by Knowledia News. The government’s bid to sell up to 15 per cent of its stake in Bharat Dynamics through the offer for sale (OFS) process will start on Tuesday. Support quality journalism and subscribe to Business Standard. Now at 310 (price for retail) it means that the price will never reach 428 anytime in future and in fact may dip much below this. The Gol intends to disinvest 15 per cent paid up equity capital of BDL out of its shareholding of 87.75 per cent, through OFS method of shares by promoters through the stock exchanges’, DIPAM said. Alankit Assignments Limited 205-208, Anarkali Complex, Jhandewalan Extension New Delhi – 110 055. Choose your reason below and click on the Report button. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Its current share price is Rs 305.90. The dynamic price bands of 10% applicable, for securities in derivatives or securities included in indices on which derivative products are available, may be relaxed intra-day in the event of a market trend in either direction (upper/lower) in co-ordination with other Exchanges. The government is selling over 2.74 crore shares of Bharat Dynamics Ltd (BDL) at a floor price of Rs 330 apiece. ... Its current share price is Rs 305.90. It opened 12% lower at Rs.338.10 and went down further to Rs.332.40, down 13.5% where it is currently trading. The over Rs 900-crore Offer for Sale (OFS) of government shares in defence firm Bharat Dynamics got off to a smooth start with the portion reserved for institutional investors oversubscribed 1.40 times. Why follow tips? Bharat Dynamics slumped 12.98% to Rs 334.60 as the offer for sale (OFS) opened for non-retail investors today. The OFS opened on Tuesday (8 September) for non-retail investors, while both retail as well as non-retail investors will … Bharat Dynamics IPO is a main-board IPO of 22,451,953 equity shares of the face value of ₹10 aggregating up to ₹960.94 Crores. Net sales slumped 97.7% to Rs 9.77 crore in Q1 June 2020 over Q1 June 2019. The issue will close on 15th March 2018. Bharat Dynamics Limited. The floor price for the OFS has been fixed at Rs 330 per share, a 14% discount to Monday’s closing price of Rs 384.50. Its shares on the BSE closed at Rs 331.15, lower by Rs 53.35, or 13.88 per cent, from the previous close. MUMBAI: The government is planning to sell 15% stake in defence company Bharat Dynamics through an offer for sale on 8 and 9 September. The centre which owns 87.75% stake in the company is looking to offload 2.71 crore shares. Remember CPSE ETF, B22ETF stories. The company has set a price range of Rs 413 to 428 per share for the public issue. Tomorrow is different. Choose your winners rationally in 3 simple steps! Last Updated at September 8, 2020 12:31 IST. A Govt of India Enterprise, Ministry of Defence. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. NEW DELHI: The over Rs 900-crore Offer for Sale ( OFS) of government shares in defence firm Bharat Dynamics got off to a smooth start with the portion reserved for institutional investors oversubscribed 1.40 times. Kindly visit the Manage my subscription page to discover the benefits of this programme. A Govt of India Enterprise, Ministry of Defence. Govt has cheated the small investors through manipulating the corporate structures of all PSUs including OIL PSUs post-issue resulting in nosediving of the market valuation and share price. The stock was trading between its 50-day moving average (DMA) placed at 402.44 and its 200-day moving average (DMA) placed at 296.53. With BDL performance published recently the company does not deserve this valuation. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. We, however, have a request. Shares of Bharat Dynamics plunged nearly 14 per cent on Tuesday on the government's proposal to sell up to 15 per cent stake in the PSU through an offer for sale (OFS). Do not subscribe. BDL does not deserve this valuation. Incorporated in 1970, Bharat Dynamics Ltd is a Hyderabad-based wholly-owned Government of India (GoI) company engaged in the manufacturing of Surface to Air missiles (SAMs), Anti-Tank Guided Missiles (ATGMs), underwater … The company offers ammunitions, counter measures dispensing, infra red interference indicators, and missile systems. The Narendra Modi government is planning to sell up to 15 percent stake in Hindustan Aeronautics Ltd (HAL) and 15-18 percent in Bharat Dynamics Ltd (BDL) through an offer for sale (OFS) in the second quarter of this fiscal, sources privy to the developments told CNBC-TV18. This will alert our moderators to take action. The stock is down as the Govt yesterday declared an Offer for Sale (OFS) in the PSU. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30. The government is selling over 2.74 crore shares of Bharat Dynamics Ltd (BDL) at a floor price … It serves military and aerospace industries in India. Govt has already tricked retail investors to invest at Rs. The OFS had hit the market with the government selling over 2.74 crore shares in the country’s largest missile maker at a floor price of Rs 330 a piece. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. Bharat Dynamics Ltd Live BSE Share Price today, Bdl latest news, 541143 announcements. Business Standard is happy to inform you of the launch of "Business Standard Premium Services". Govt to sell 15% stake in Bharat Dynamics via OFS. Bharat Dynamics Limited. The only aim of the govt is to garner money. 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Registrar of Bharat Dynamics IPO. For reprint rights: Retail investors...Do not subscribe. Bharat Dynamics OFS Details: Open Date: 8th September 2020 (Non Retail) Close Date: 9th September 2020 (Retail) Retail Portion: 15%; Floor Price: Rs.330 (14% discount to 384.45) Retail Discount: Rs.20; Base Size: 1,83,28,125 shares; Green Shoe: 91,64,063 shares; Total Size: 2,74,92,188 shares Bharat Dynamics IPO Details. 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The government is selling over 2.74 crore shares of Bharat Dynamics Ltd ( BDL) at a floor price of Rs 330 apiece. Means the price will never reach 428 or even may be available later at less than half the price of the current issue. As on 30 June 2020, the Government of India held 87.75% stake in the company. !!!. The over Rs 900-crore Offer for Sale (OFS) of government shares in defence firm Bharat Dynamics got off to a smooth start with the portion reserved for institutional investors oversubscribed 1.40 times. Bharat Dynamics share slipped over 13% in early trade today after the government said it would sell 15% stake in the defence company through an … The government which owns 87.75 per cent stake in … The minimum order quantity is 35 Shares. Copyright © 2021 Bennett, Coleman & Co. Ltd. All rights reserved. Let's reshape it today, Hunt for the brightest engineers in India, Read Stock Insights by ET for a quick analysis. Bharat Dynamics Ltd.’s offer-for-sale received subscriptions worth Rs 770 crore from institutional and retail investors, the government said on Wednesday. We believe in free, fair and credible journalism. Bharat Dynamics Ltd (BDL) on 7 th March 2018 informed it will come out with its Rs 960 crore Initial Public Offering (IPO) on 13th March 2018.. Shares of Bharat Dynamics were trading at Rs 314, down 17.15 points or 5.18 per cent on BSE at the time of reporting. As a premium subscriber you get an across device unfettered access to a range of services which include: Welcome to the premium services of Business Standard brought to you courtesy FIS. The floor price for the OFS was set at Rs 330 each, a 14.17% discount to Bharat Dynamics' closing price of Rs 384.50 on Monday, 7 September 2020. The floor price for the offer-for-sale has been set at 64 rupees a share, a discount of more than 10% to today's closing price of 74.70 rupees on the National Stock Exchange. The offer for sale (OFS) of the state-run Bharat Dynamics Ltd has received an enthusiastic response from institutional investors as the issue is already subscribed 106.6 percent, a government official said. The government currently holds 75% in SAIL, one of the largest steel-making companies in India. Your support through more subscriptions can help us practise the journalism to which we are committed. Capital Market  Copyrights © 2021 Business Standard Private Ltd. All rights reserved. Phone: +91 11 4254 1234 Fax: +91 11 4154 3474 Email: [email protected] Website: www.alankit.com. The issue is priced at ₹413 to ₹428 per equity share. The floor price for the OFS was set at Rs 330 each, a 14.17% discount to Bharat Dynamics' closing price of Rs 384.50 on Monday, 7 September 2020. Shares of public sector undertaking Bharat Dynamics Ltd. plunged 13.9% to ₹331.15 a share on the BSE as the Union government began the process of divesting a … The floor price for the OFS has been fixed at Rs 330 per share, which is a 14 per cent discount to Monday's close of Rs 384.50. ), Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. The govt is cheating as in case of Bharat 22 ETF and CPSE ETF where after the issues it has manipulated the corporate structure of all PSUs including the bluechip oil PSUs like HPCL, BPCL, IOC, GICRE, NIACL etc etc. On a standalone basis, Bharat Dynamics reported net loss of Rs 78.04 crore in Q1 June 2020 as compared to a net profit of Rs 65.55 crore in Q1 June 2019. Through the OFS, the Government of India proposes to sell 1,83,28,125 equity shares, constituting 10% paid-up share capital of the company, with an option to sell an additional 91,64,063 equity shares or 5% stake (oversubscription option). The share price of BDL fell 5.24% on Wednesday to close at Rs 313.8 on the BSE. The government is selling up to 1.83 crore equity shares or 10 percent of the defense company for the face value of Rs 10 each in the company at a floor price of Rs 330 per equity share. Bdl financial results, Bdl shareholding, Bdl annual reports, Bdl pledge, … It may be available at less than half this price later if at all someone wants to invest. Bharat Dynamics Ltd OFS Wants To Apply Online. Bharat Dynamics manufactures defense equipment. document.write("");googletag.cmd.push(function(){googletag.defineOutOfPageSlot('/6516239/outofpage_1x1_desktop','div-gpt-ad-1490771277198-0').addService(googletag.pubads());googletag.pubads().enableSyncRendering();googletag.enableServices();}); The President of India, acting through and represented by the Department of Defence Production, Ministry of Defence, Government of India, is the promoter of Bharat Dynamics. CIN:L24292TG1970GOI001353 The President of India, acting through and represented by the Department of Defence Production, Ministry of Defence, Government of India, is the promoter of BDL. Your Reason has been Reported to the admin. CIN:L24292TG1970GOI001353 BSE Bid Details – Non Retail (T) Security Type: OFS: Symbol: BDL: Issue Period: ... Retail bids below the cut-off price shall not be eligible for allocation. The IPO opens on Mar 13, 2018, and closes on Mar 15, 2018. Remember the BDL OFS was at 428, now at 310 for retail. It was listed in 2018. 428 in the OFS. Nothing to do with inverter interests. Download The Economic Times News App to get Daily Market Updates & Live Business News. (This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed. The RSI oscillates between zero and 100. On the technical front, the stock's RSI (relative strength index) stood at 30.412. It was listed in 2018. Bharat Dynamics drops 5% on exercising 15% divestment via OFS; Non-retail investors subscribed by 1.4 times A floor price of Rs330 per equity share has been set for the offer. Bharat Dynamics is a big loser on the BSE since the opening bell. Govt's only aim is to Garner money and have nothing to do with small inverstor interests. As on 12:05 IST, the OFS received subscription for 1,66,12,582 shares or 106.64% against the base non-retail offer size of 1,55,78,906 shares. 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