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. 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 price of Bharat Dynamics fell 5 per cent on Wednesday, extending fall to the second straight day after the government launched an offer for sale (OFS) to divest 15 per cent stake. 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. 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. The government is selling over 2.74 crore shares of Bharat Dynamics … tweet. September 8, 2020 Nikhil Bharat. Beware of this 'spoofed' online banking message, warns Government of India, IRFC IPO: First IPO of new year 2021 opens Jan 18; check price band, grey market premium, details, EIU report: Vietnam rises as an alternative to China, beating India, SBI’s FD rate hike may be sign of turn in rate cycle, Most popular equity mutual funds chosen by investors - Check the list, Analyst Corner: Retain ‘sell’ on Tata Motors; revised fair value at Rs 155, Share Market Highlights: Sensex ends 91 pts higher, Nifty closes just shy of 14,600; IndusInd Bank, TCS top gainers, Indigo Paints IPO opens next week as Sequoia Capital, promoter look to trim stake; check details, Buy RIL, Bharti Airtel: CLSA sees up to 26% rally in these stocks; check growth outlook 2021, target prices. 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. 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. The Teaming Agreement was signed by Thales and BDL in the presence of UK and Indian Government … Days Trial DIPAM to sell 15% govt stake in Bharat Dynamics Ltd under Offer for Sale. MUMBAI: The government is planning to sell 15% stake in defence company Bharat Dynamics through an offer for sale on 8 and 9 September. +Includes DocuBay and TimesPrime Membership worth ₹1499 & ₹999 resp. The floor price for the sale has been fixed at Rs 330 apiece—a discount of about 14% to its current market price. Choose your winners rationally in 3 simple steps! Bharat Dynamics’ is the second OFS launched by the government in the ongoing fiscal. Financial Express is now on Telegram. The floor price is fixed at Rs.330 per share against the closing price of 384.45 on 7th September. Govt has decided to exercise the green shoe option. Bharat Dynamics Ltd. ’s offer-for-sale received subscriptions worth Rs 770 crore from institutional and retail investors, the government said on Wednesday. Days Trial. Let's reshape it today, Hunt for the brightest engineers in India, Read Stock Insights by ET for a quick analysis. By Admin on September 9, 2020. Download The Economic Times News App to get Daily Market Updates & Live Business News. 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. BDL is engaged in manufacturing guided missile systems for the country. 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). 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; Bharat Dynamics OFS subscribed 76% on last day. The retail investors will get Rs, 20 off on equity shares on the bid price entered by them. Tomorrow is different. Sharp Insight-rich, Indepth stories across 20+ sectors, Access the exclusive Economic Times stories, Editorial and Expert opinion. 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. Choose your reason below and click on the Report button. 604.8 crore if the Offer of Sale in Bharat Dynamics gets entirely subscribed. Done Cancel. “BDL OFS concluded today with total subscription of about 2.34 crore shares worth Rs 770 crore from institutional and retail investors. 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. Includes DocuBay and TimesPrime Membership worth ₹1499 & ₹999 resp. Copyright © 2021 Bennett, Coleman & Co. Ltd. All rights reserved. The centre which owns 87.75% stake in the company is looking to offload 2.71 crore shares. Also Read: India’s Plan To Boost Defence Production Has Industry Confused. 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. 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Comment . 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 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. Infosys, Wipro shares fall after strong quarterly results; should investors buy now or stay away? of ammunition and missile systems manufacturer Bharat Dynamics Ltd through an offer for sale, which concluded on Wednesday. Click here to join our channel and stay updated with the latest Biz news and updates. The share price of BDL fell 5.24% on Wednesday to close at Rs 313.8 on the BSE. The disinvestment department has so far raised only 61.38 bln rupees. #BharatDynamics Offer for Sale #OFS Opens tomorrow (9th September) at a cut off price of Rs. 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 … 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 … 2021The Indian Express [P] Ltd. All Rights Reserved, 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… 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. 330. The base price for the OFS was set at Rs 330/share, while retail investors were offered an additional discount of Rs 20/share. News; Compliances-Certificate under Reg. Meanwhile, shares of Bharat Dynamics fell 5 per cent on Wednesday, extending their two-day fall to 18 per cent Share. Last month, the government sold about 15% stake in Hindustan Aeronautics Ltd. to raise about Rs 5,000 crore. share. Your Reason has been Reported to the admin. Retail investors get a Rs. Govt plans 10% stake sale in Mishra Dhatu via offer for sale. gplus. Announcements 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. This will alert our moderators to take action. Bharat Dynamics Ltd - 541143 - Notice of Offer for Sale of Share by Promoter & Floor Price by BSE India 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. 15 Including bids for non-retail investors, the OFS garnered 85 per cent subscription, helping the centre raise Rs 770 crore. Why follow tips? Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. The offer for sale will be available for 8th September for non retail investors and 9th September for retail investors. Bharat Dynamics’ Offer For Sale Gets Subscriptions Worth Rs 770 Crore. 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. The Union government is looking to dilute its stake in another defence manufacturer, Bharat Dynamics Ltd (BDL), following the ₹ 5,020 crore share sale … 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 … The Offer Of Sale in Bharat Dynamics will remain open for non-retail and retail investors on Sept.8 and Sept.9, respectively. 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. The government has raised Rs 770 crore from stake sale. Share on Share on Share on Share on . 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. "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. For reprint rights: Inciting hatred against a certain community, 15 20 discount on the bids. Like us on Facebook and follow us on Twitter. 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. 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. thenews21bureau Business January 23, 2020 No Comments. The Department of Investment and public Asset Management (DIPAM) will put 15 per cent of government stake on sale in Defence PSU Bharat Dynamics Ltd under the Offer for Sale (OFS) route and has invited merchant bankers to bid for the mandate to take it forward. 74 (5) of SEBI (DP) Regulations, 2018. (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. Like. Government exercises oversubscription option of offer for sale of Bharat Dynamics Limited’s shares. share. News; Sebi move triggers Lollapalooza Effect on D-Street: What to buy now? 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 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). The Modi Government is likely to raise approximately Rs. 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