The institutional investor portion of the IPO was subscribed 1.5 times and the retail portion had garnered 1.4 times subscription, as on 5 pm. Bharat Dynamics’ IPO is entirely an offer for sale by the government as part of 2017-18 disinvestment programme.
Hyderabad-based Bharat Dynamics is a manufacturer of defence equipment. The price band for the IPO is Rs 413 to Rs 428 per share. Retail investors will be given a discount of Rs 10 per share on the allotment price.