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. News; Sebi move triggers Lollapalooza Effect on D-Street: What to buy now? of ammunition and missile systems manufacturer Bharat Dynamics Ltd through an offer for sale, which concluded on Wednesday. MUMBAI: The government is planning to sell 15% stake in defence company Bharat Dynamics through an offer for sale on 8 and 9 September. Shares of Bharat Dynamics fell over 13 percent on Tuesday after the company said that the government will sell 15 percent sale in the company through an offer for sale route (OFS). Choose your winners rationally in 3 simple steps! Financial Express is now on Telegram. This issue will help the company achieve MPS (minimum public shareholding) norms,” department of investment and public asset management (DIPAM) secretary Tuhin Kant Pandey tweeted. So far this fiscal, the government has raised Rs 6,138 crore by selling minority stake in Hindustan Aeronautics Ltd and Bharat Dynamics Ltd through offer for sale so far this year. Infosys, Wipro shares fall after strong quarterly results; should investors buy now or stay away? 2021The Indian Express [P] Ltd. All Rights Reserved, The share price of BDL fell 5.24% on Wednesday to close at Rs 313.8 on the BSE. New Delhi, January 14, 2021: Thales and Bharat Dynamics Limited (BDL), a Government of India enterprise, have signed a Teaming Agreement to work in partnership on the STARStreak Air Defence system with the support of both the Governments of India and the United Kingdom. share. tweet. The government is selling over 2.74 crore shares of Bharat Dynamics … The Economic Times Digital Payments Forum, Voda Idea to seek shareholders' nod to raise borrowing limit to Rs 1 lakh cr, Motherson Sumi's proposed NCDs worth Rs 3,000 crore assigned IND AAA/Negative rating, RBI broadly accepts Kamath Committee’s parameters on loan restructuring, specifies 5 mandatory ratios, Sebi sets March 31 as cut-off date for re-lodgement of share transfer requests, Initiative to support fresh talent in India and the UK, The out-of-control line between India and Pakistan, Curfews, protests lead to end-of-sales season, SAIL plunges 10% as two-day OFS kicks off. 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. Includes DocuBay and TimesPrime Membership worth ₹1499 & ₹999 resp. … Now receive NPS partial withdrawal amount on 5th day in your bank account, Startup India: Piyush Goyal urges investors to invest, mentor, support startups in BIMSTEC region, India-UK Trade Talks: Virtual discussion to focus on potential deliverables next week, WhatsApp 'read later' feature coming soon, set to be major improvement over existing archived chats, More strength to the Indian Air Force; 83 indigenous fighters will soon join IAF, Market LIVE: Sensex gives up 49,000, plunges 750 pts, Nifty below 14,400, US Stock Market: How to invest in ETFs listed abroad and what to buy now, Warren Buffett’s favourite share market gauge says India stocks overvalued; cross 2008 levels, Budget 2021 expectations: Need for allocating funds to health and wellness sector visible from COVID experience, Goldman Sachs sees over 35% rally in HPCL share price; raises price target by 12%, adds to conviction list, Copyright © The offer for sale will be available for 8th September for non retail investors and 9th September for retail investors. Retail portion of Bharat Dynamics' offer for sale subscribed 40% Business Standard. The Teaming Agreement was signed by Thales and BDL in the presence of UK and Indian Government … gplus. The government has raised Rs 770 crore from stake sale. For reprint rights: Inciting hatred against a certain community, 15 Done Cancel. The government is selling over 2.74 crore shares of Bharat Dynamics Ltd (BDL) at a floor… BDL is engaged in manufacturing guided missile systems for the country. By Admin on September 9, 2020. The disinvestment department has so far raised only 61.38 bln rupees. The floor price for the sale has been fixed at Rs 330 apiece—a discount of about 14% to its current market price. (Image source: Company Website), Bharat Dynamics offer for sale fetches Rs 770 crore, Indigo Paints IPO: Grey market premium surges 57% from issue price, even as Sensex, Nifty fall, GAIL announces Rs 1,046.35 cr share buyback, Morgan Stanley raises India’s ‘overweight’ position, and makes China pay for it, Sun Pharmaceutical Industries Share Price, This website follows the DNPA’s code of conduct. While the institutional portion was subscribed 1.4 times, the retail portion was under subscribed, leading to an overall subscription of 85% of the offer size of 2.75 crore shares. 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. The floor price is fixed at Rs.330 per share against the closing price of 384.45 on 7th September. Meanwhile, shares of Bharat Dynamics fell 5 per cent on Wednesday, extending their two-day fall to 18 per cent Share. Through the offer for sale scheduled on September 8 and 9, the Centre plans to raise nearly Rs 907 crore, the company said in a regulatory filing. Download The Economic Times News App to get Daily Market Updates & Live Business News. "Offer for Sale of 15 per cent Govt shares in BDL got good response on day one and was subscribed 1.40 times by non- retail investors . Choose your reason below and click on the Report button. The base price for the OFS was set at Rs 330/share, while retail investors were offered an additional discount of Rs 20/share. Retail investors get a Rs. Govt has decided to exercise the green shoe option. Share price of Bharat Dynamics fell 5 per cent on Wednesday, extending fall to the second straight day after the government launched an offer for sale (OFS) to divest 15 per cent stake. The Offer Of Sale in Bharat Dynamics will remain open for non-retail and retail investors on Sept.8 and Sept.9, respectively. Also Read: India’s Plan To Boost Defence Production Has Industry Confused. Through the offer for sale scheduled on September 8 and 9, the Centre plans to raise nearly Rs 907 crore, the company said in a regulatory filing. Like us on Facebook and follow us on Twitter. 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 offer for sale … "Offer for Sale of 15% Govt shares in BDL got good response on day one and was subscribed 1.40 times by non- retail investors.
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