Page 3 - Bharat Dynamics

Bharat Dynamics makes weak debut; lists 16% below issue price

The stock listed at Rs 360, a 16% below against its issue price of Rs 428 per share on the BSE

Bharat Dynamics Rs 9.6-bn IPO gets subscribed only 1.3 times on last day

Hyderabad-based Bharat Dynamics is a manufacturer of defence equipment

Bharat Dynamics' Rs 9.6-billion IPO subscribed 47% a day before close

Hyderabad-based Bharat Dynamics is a manufacturer of defence equipment

Bharat Dynamics fixes price range at Rs 413-428 to raise Rs 9.6 bn from IPO

SBI Capital Markets, IDBI Capital Markets and Securities and Yes Securities will manage the public issue

Bharat Dynamics files IPO with Sebi, 4th PSU going for listing in 2018

Defence PSU Bharat Dynamics Ltd has filed draft papers with capital markets regulator Sebi to float an initial public offer. This is the fourth PSU that has approached Sebi for IPO in less than one month. The other three are - Mishra Dhatu Nigam Ltd, RITES Ltd and Indian Renewable Energy Development Agency (IREDA). Going by the draft papers, Bharat Dynamics's IPO will see sale of equity shares by the government and the public issue will help the company in achieving the benefits of listing. Bharat Dynamics was established in 1970 and is a manufacturer of guided missiles and allied defence equipment. The company's net worth stood at Rs 2,212.46 crore at the end of March 2017. SBI Capital Markets, IDBI Capital Markets & Securities and Yes Securities will manage the company's public issue. Earlier in April last year, the Cabinet had cleared the disinvestment of four PSUs, including Bharat Dynamics and Mishra Dhatu Nigam Ltd, under the defence ministry.

Bharat Dynamics eyes 20% jump in FY18 revenue, to set up 5 Mw solar unit

Bharat Dynamics Ltd (BDL) has targeted revenue of Rs 5,300 crore from operations in the current financial year, up 20 per cent compared to the previous fiscal. The Hyderabad-based company outlined its targets and various performance parameters for 2017-18 in an MoU it signed with the defence ministry. The 'miniratna' defence PSU has planned to set up a five MW solar plant at its upcoming unit at Ibrahimpatnam in Telangana, according to a BDL statement. The company, eyeing a 20 per cent rise over FY17 in revenue from operations at Rs 5,300 crore in FY18, has laid substantial emphasis on R&D in pursuit of self-reliance, it said. The MoU was inked by BDL Chairman and Managing Director V Udaya Bhaskar and secretary (Defence Production), Ashok Kumar Gupta in New Delhi yesterday. BDL was established in 1970 to be a manufacturing base for guided missiles and allied defence equipment.