Mumbai, Sep 8 (IANS) Shares of Bharat Dynamics plunged 13 per cent on Tuesday as the Union government has announced to sell up to 15 per cent stake in the PSU through an offer for sale (OFS). share. Days Trial. By Admin on September 9, 2020. The centre which owns 87.75% stake in the company is looking to offload 2.71 crore shares. Bharat Dynamics’ is the second OFS launched by the government in the ongoing fiscal. The Centre on Wednesday raised Rs 770 crore by selling 2.34 crore shares of state-run Bharat Dynamics to retail and institutions investors via an … Copyright © 2021 Bennett, Coleman & Co. Ltd. All rights reserved. The floor price for the sale has been fixed at Rs 330 apiece—a discount of about 14% to its current market price. News; Sebi move triggers Lollapalooza Effect on D-Street: What to buy now? The share price of BDL fell 5.24% on Wednesday to close at Rs 313.8 on the BSE. Bharat Dynamics Ltd. ’s offer-for-sale received subscriptions worth Rs 770 crore from institutional and retail investors, the government said 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. BDL is engaged in manufacturing guided missile systems for the country. Also Read: India’s Plan To Boost Defence Production Has Industry Confused. The offer for sale (OFS) of Bharat Dynamics (BDL) was oversubscribed 1.4 times by non-retail investors on Tuesday and following the development, the government has decided to exercise the "green shoe" option. 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 Union government is looking to dilute its stake in another defence manufacturer, Bharat Dynamics Ltd (BDL), following the ₹ 5,020 crore share sale … "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 . The retail investors will get Rs, 20 off on equity shares on the bid price entered by them. 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. 330. 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 … The Centre on Wednesday raised Rs 770 crore by selling 2.34 crore shares of state-run Bharat Dynamics to retail and institutions investors via an offer for sale (OFS). September 8, 2020 Nikhil Bharat. of ammunition and missile systems manufacturer Bharat Dynamics Ltd through an offer for sale, which concluded on Wednesday. Let's reshape it today, Hunt for the brightest engineers in India, Read Stock Insights by ET for a quick analysis. Done Cancel. The retail portion of the Bharat Dynamics offer for sale (OFS) saw bids for just 1.67 million shares, which is 40 per cent of the total 4.12 million on offer. 20 discount on the bids. Infosys, Wipro shares fall after strong quarterly results; should investors buy now or stay away? tweet. Including bids for non-retail investors, the OFS garnered 85 per cent subscription, helping the centre raise Rs 770 crore. Retail investors get a Rs. Financial Express is now on Telegram. Last month, the government sold about 15% stake in Hindustan Aeronautics Ltd. to raise about Rs 5,000 crore. Bharat Dynamics OFS gets off to smooth start, institutional buyers oversubscribe The government is selling over 2.74 crore shares of Bharat Dynamics Ltd (BDL) at a floor price of Rs 330 apiece. Retail portion of Bharat Dynamics' offer for sale subscribed 40% Business Standard. Announcements For reprint rights: Inciting hatred against a certain community, 15 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. Like. #BharatDynamics Offer for Sale #OFS Opens tomorrow (9th September) at a cut off price of Rs. Your Reason has been Reported to the admin. 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. Bharat Dynamics offer-for-sale today The Centre plans to sell up to 10 per cent stake or 1.83 crore shares of Bharat Dynamics Ltd through an offer-for-sale. 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. Choose your winners rationally in 3 simple steps! 15 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. 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. With the latest stake sale, the Centre’s disinvestment proceeds stood at around Rs 5,770 crore so far this fiscal as against the budget target of Rs 2.1 lakh crore for FY21. Bharat Dynamics News & Analysis. thenews21bureau Business January 23, 2020 No Comments. The Offer Of Sale in Bharat Dynamics will remain open for non-retail and retail investors on Sept.8 and Sept.9, respectively. Mumbai, Sep 8: Shares of Bharat Dynamics plunged 13 per cent on Tuesday as the Union government has announced to sell up to 15 per cent stake in the PSU through an offer for sale (OFS). "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. Bharat Dynamics’ Offer For Sale Gets Subscriptions Worth Rs 770 Crore. 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. Govt plans 10% stake sale in Mishra Dhatu via offer for sale. 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. 604.8 crore if the Offer of Sale in Bharat Dynamics gets entirely subscribed. … DIPAM to sell 15% govt stake in Bharat Dynamics Ltd under Offer for Sale. 74 (5) of SEBI (DP) Regulations, 2018. The floor price is fixed at Rs.330 per share against the closing price of 384.45 on 7th September. 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Govt has decided to exercise the green shoe option. 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 … share. The Centre on Wednesday raised Rs 770 crore by selling 2.34 crore shares of state-run Bharat Dynamics to retail and institutions investors via an offer for sale (OFS). Share on Share on Share on Share on . Aditya Birla Sun Life Tax Relief 96 Direct-Growt.. Mirae Asset Emerging Bluechip Fund Direct-Growth, Government to sell 15% stake in Bharat Dynamics through OFS, MUMBAI: The government is planning to sell 15% stake in. As many as 1.83 crore shares of Bharat Dynamics Ltd., amounting to 10% stake, would be sold through an offer for sale, according to an exchange filing. This will alert our moderators to take action. 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. Bharat Dynamics Ltd - 541143 - Notice of Offer for Sale of Share by Promoter & Floor Price by BSE India Comment . 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. The company, in a BSE filing, said that the government will sell up to 1.83 crore equity shares or 10 percent of the company for the face value of Rs 10 each. (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. Out of this, the government raised close to 50 bln rupees by selling 14.82% stake in Hindustan Aeronautics Ltd through an offer for sale and 7.71 bln rupees through Bharat Dynamics Ltd's offer for sale. The government is selling over 2.74 crore shares of Bharat Dynamics … +Includes DocuBay and TimesPrime Membership worth ₹1499 & ₹999 resp. The Teaming Agreement was signed by Thales and BDL in the presence of UK and Indian Government … 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. 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). News; Compliances-Certificate under Reg. Click here to join our channel and stay updated with the latest Biz news and updates. 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