Choose your reason below and click on the Report button. Bharat Dynamics share price plunged 13.49 per cent to Rs 332.60 apiece on BSE a day after the defence company informed that government is planning to sell 15 per cent stake in … Support quality journalism and subscribe to Business Standard. 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. It may be available at less than half this price later if at all someone wants to invest. 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 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. 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). The company offers ammunitions, counter measures dispensing, infra red interference indicators, and missile systems. We, however, have a request. 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. Bharat Dynamics IPO Details. With BDL performance published recently the company does not deserve this valuation. Bharat Dynamics Ltd IPO. Tomorrow is different. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. 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. It opened 12% lower at Rs.338.10 and went down further to Rs.332.40, down 13.5% where it is currently trading. Bharat Dynamics Limited. As on 30 June 2020, the Government of India held 87.75% stake in the company. Govt to sell 15% stake in Bharat Dynamics via OFS. 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. Let's reshape it today, Hunt for the brightest engineers in India, Read Stock Insights by ET for a quick analysis. Bharat Dynamics manufactures defense equipment. BDL does not deserve this valuation. The only aim of the govt is to garner money. MUMBAI: The government is planning to sell 15% stake in defence company Bharat Dynamics through an offer for sale on 8 and 9 September. ), 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. Aditya Birla Sun Life Tax Relief 96 Direct-Growt.. Mirae Asset Emerging Bluechip Fund Direct-Growth, Bharat Dynamics OFS gets off to smooth start, institutional buyers oversubscribe, NEW DELHI: The over Rs 900-crore Offer for Sale (. 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. The government currently holds 75% in SAIL, one of the largest steel-making companies in India. 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 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). We believe in free, fair and credible journalism. 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 … CIN:L24292TG1970GOI001353 Copyright © 2021 Bennett, Coleman & Co. Ltd. All rights reserved. The minimum order quantity is 35 Shares. 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. Why follow tips? 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. 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 ... Its current share price is Rs 305.90. (This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed. 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.. On the technical front, the stock's RSI (relative strength index) stood at 30.412. 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. 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. Choose your winners rationally in 3 simple steps! The IPO opens on Mar 13, 2018, and closes on Mar 15, 2018. Inciting hatred against a certain community, The Economic Times Digital Payments Forum, RBI announces special OMO for purchase, sale of Rs 10,000 cr G-Secs on Sept 10, Government issues multiple clarifications on BPCL stake sale, 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. 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 … Registrar of Bharat Dynamics IPO. 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. 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. Comprehensive up-to-date news coverage about "bharat dynamics share price", aggregated from sources all over the world by Knowledia News. It serves military and aerospace industries in India. 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. 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 OFS was set at Rs 330 each. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30. Bharat Dynamics slumped 12.98% to Rs 334.60 as the offer for sale (OFS) opened for non-retail investors today. Remember the BDL OFS was at 428, now at 310 for retail. A Govt of India Enterprise, Ministry of Defence. 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. 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. 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. Capital Market  The issue will close on 15th March 2018. Its shares on the BSE closed at Rs 331.15, lower by Rs 53.35, or 13.88 per cent, from the previous close. Govt has already tricked retail investors to invest at Rs. 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. Kindly visit the Manage my subscription page to discover the benefits of this programme. Remember CPSE ETF, B22ETF stories. 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. It was listed in 2018. CIN:L24292TG1970GOI001353 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. Digital Editor. The government is selling over 2.74 crore shares of Bharat Dynamics Ltd (BDL) at a floor price of Rs 330 apiece. The stock is down as the Govt yesterday declared an Offer for Sale (OFS) in the PSU. 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. Govt's only aim is to Garner money and have nothing to do with small inverstor interests. 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 base price for the OFS was set at Rs 330/share, while retail … Means the price will never reach 428 or even may be available later at less than half the price of the current issue. Bharat Dynamics Ltd Live BSE Share Price today, Bdl latest news, 541143 announcements. Nothing to do with inverter interests. 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 RSI oscillates between zero and 100. The OFS opened on Tuesday (8 September) for non-retail investors, while both retail as well as non-retail investors will … The issue is priced at ₹413 to ₹428 per equity share. 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. Bharat Dynamics Ltd.’s offer-for-sale received subscriptions worth Rs 770 crore from institutional and retail investors, the government said on Wednesday. Bdl financial results, Bdl shareholding, Bdl annual reports, Bdl pledge, … Download The Economic Times News App to get Daily Market Updates & Live Business News. 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. The government is selling over 2.74 crore shares of Bharat Dynamics Ltd ( BDL) at a floor price of Rs 330 apiece. Enjoy Reading! !!!. For reprint rights: Retail investors...Do not subscribe. Business Standard is happy to inform you of the launch of "Business Standard Premium Services". A Govt of India Enterprise, Ministry of Defence. 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. 428 in the OFS. 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. The company has set a price range of Rs 413 to 428 per share for the public issue. As on 30 June 2020, the Government of India held 87.75% stake in the company. Bharat Dynamics is a big loser on the BSE since the opening bell. Phone: +91 11 4254 1234 Fax: +91 11 4154 3474 Email: [email protected] Website: www.alankit.com. Retail Investors will be allocated equity shares to the offer at a discount of Rs 20 to their respective bid price (including Cut-Off Price) in accordance with the SEBI OFS Circulars. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Your Reason has been Reported to the admin. The share price of BDL fell 5.24% on Wednesday to close at Rs 313.8 on the BSE. The government is selling over 2.74 crore shares of Bharat Dynamics Ltd (BDL) at a floor price … Valuation of Bharat Dynamics (Based on latest FY) Earnings Per Share (EPS): INR43.13. This will alert our moderators to take action. Do not subscribe. The centre which owns 87.75% stake in the company is looking to offload 2.71 crore shares. Last Updated at September 8, 2020 12:31 IST. 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. Its current share price is Rs 305.90. 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Bharat Dynamics Ltd OFS Wants To Apply Online. It was listed in 2018. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. Copyrights © 2021 Business Standard Private Ltd. All rights reserved. This was confirmed by the company in a regulatory filing to exchanges. 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. Net sales slumped 97.7% to Rs 9.77 crore in Q1 June 2020 over Q1 June 2019. The government which owns 87.75 per cent stake in … 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. , Anarkali Complex, Jhandewalan Extension New Delhi – 110 055 15 % in... 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