The OFS opened on Tuesday (8 September) for non-retail investors, while both retail as well as non-retail investors will … Valuation of Bharat Dynamics (Based on latest FY) Earnings Per Share (EPS): INR43.13. Govt has already tricked retail investors to invest at Rs. 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. 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). Business Standard is happy to inform you of the launch of "Business Standard Premium Services". 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 Why follow tips? As on 30 June 2020, the Government of India held 87.75% stake in the company. 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 … Nothing to do with inverter interests. 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. 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. As on 30 June 2020, the Government of India held 87.75% stake in the company. CIN:L24292TG1970GOI001353 The IPO opens on Mar 13, 2018, and closes on Mar 15, 2018. Phone: +91 11 4254 1234 Fax: +91 11 4154 3474 Email: [email protected] Website: www.alankit.com. Bharat Dynamics Ltd.’s offer-for-sale received subscriptions worth Rs 770 crore from institutional and retail investors, the government said on Wednesday. Net sales slumped 97.7% to Rs 9.77 crore in Q1 June 2020 over Q1 June 2019. BDL does not deserve this valuation. 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. The company offers ammunitions, counter measures dispensing, infra red interference indicators, and missile systems. We believe in free, fair and credible journalism. A Govt of India Enterprise, Ministry of Defence. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. 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. Means the price will never reach 428 or even may be available later at less than half the price of the current issue. 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). Choose your winners rationally in 3 simple steps! The centre which owns 87.75% stake in the company is looking to offload 2.71 crore shares. The government is selling over 2.74 crore shares of Bharat Dynamics Ltd (BDL) at a floor price of Rs 330 apiece. 428 in the OFS. Do not subscribe. Bharat Dynamics Ltd OFS Wants To Apply Online. The minimum order quantity is 35 Shares. We, however, have a request. 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 Ltd IPO. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. 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. Its current share price is Rs 305.90. Tomorrow is different. 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 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. The base price for the OFS was set at Rs 330/share, while retail … It opened 12% lower at Rs.338.10 and went down further to Rs.332.40, down 13.5% where it is currently trading. Your support through more subscriptions can help us practise the journalism to which we are committed. 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. For reprint rights: Retail investors...Do not subscribe. 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. Govt to sell 15% stake in Bharat Dynamics via OFS. 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. Remember the BDL OFS was at 428, now at 310 for retail. 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. With BDL performance published recently the company does not deserve this valuation. ), 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. The only aim of the govt is to garner money. 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. Download The Economic Times News App to get Daily Market Updates & Live Business News. Your Reason has been Reported to the admin. 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. 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 … 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.. (This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed. 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.
Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Govt's only aim is to Garner money and have nothing to do with small inverstor interests. 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. 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 may be available at less than half this price later if at all someone wants to invest. 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 is selling over 2.74 crore shares of Bharat Dynamics Ltd (BDL) at a floor price … 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.
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