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.
“The Promoter proposes to sell up to 18.33 million equity shares of the Company on September 8, 2020, (for non-retail investors only) and on September 9, 2020 (for retail investors and for un-allotted non-retail Investors who choose to carry forward their bids) with an option to additionally sell 9.16 million equity shares (representing 5 per cent of the total issued and paid up equity share capital of the company),” Bharat Dynamics
said in a exchange filing.
The stock of Bharat Dynamics has corrected nearly 31 per cent from its all-time high level of Rs 481, touched on August 14, 2020 on the BSE. It hit a 52-week low of Rs 147 in intra-day trade on March 24, 2020.
Last month, the government had sold 15 per cent stake in aerospace and defence company Hindustan Aeronautics to raise about Rs 5,000-crore.
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