Bharat Dynamic IPO details and application process

The initial public offering (IPO) of Bharat Dynamics opens on 13 March and closes on 15 March. The company is offering shares in the price band of Rs 413-438.
A discount of Rs 10 will be applicable for retail investors and employees.

About Bharat Dynamics
Established in year 1970 Bharat Dynamics is a Govt of India enterprise (Mini Ratna) which manufactures Surface-to-Air missiles (SAMs), Anti-Tank Guided Missiles (ATGMs), Underwater Weapon Launchers, Countermeasures and test equipment for the defence sector. The comoany is a co-development partner with DRDO for the next gen ATGMs & SAMs. The company is also setting up 2 new manufacturing facilities in Ibrahimpatanam (Telengana) and Amaravati (Maharashtra)

The current orderbook of the company stands at 10,543 cr.

Purpose of the issue
The entire proceeds of the issue will go to the Govt.

Issue Details
The issue comprises of an offer for sales (OFS) of 2.2 cr shares. 4.5 lakh will be reserved for retail investors.

IPO schedule
Issue opens - March 13th
Issue close - March 15th
Issue size - ₹ 960 crores at the upper end of the price band.
Listing on both NSE and BSE
Retail portion - 35%
Bid lot - 35 shares

Basis of allotment - 20 March
Refunds - 21 March
Credit of shares - 22 March
Listing 23 March

Follow these steps to apply for an IPO

Keep track of all the upcoming IPOs here